OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

CAYMAN ISLANDS

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

11 class actions against 42 defendants in 16 countries alleging sale of unregistered cryptocurrencies

April 04, 2020 - The cryptocurrency industry experienced its own 'Red Wedding' on April 3rd when 11 class action complaints alleging the sale of unregistered securities were filed at federal court in Manhattan against 42 parties in the BVI, Canada, Cayman Islands, China, Estonia, Hong Kong, Israel, Japan, Malta, Seychelles, Singapore, South Africa, Switzerland, Taiwan, USA, and Vietnam.

Chase Williams et al v. Block.one et al: Class Action Complaint

April 03, 2020 - Class Action Complaint alleging the sale of unregistered securities involving digital tokens known as EOS in Chase Williams and William Zhang v. Block.one, described as a Cayman Islands-domiciled "blockchain-focused software development company" with operations in New York, California, Virginia, Washington D.C., and Hong Kong; Brendan Blumer, described as "an American entrepreneur and investor" residing in Hong Kong, and Dan Larimer, described as "a software programmer and cryptocurrency entrepreneur" residing in Christiansburg, Virginia, at the U. S. District Court for the Southern District of New York.

Kingstown Partners Master Ltd. et al v. DXC Technology Company et al: Complaint

March 31, 2020 - Complaint alleging securities fraud in Kingstown Partners Master Ltd., of the Cayman Islands; Kingstown Partners II LP, Ktown LP, and Kingfishers LP, all of Delaware v. DXC Technology Company, Hewlett Packard Enterprise Company, Rishi Varna, Timothy C. Stonesifer, Jeremy K. Cox, Mukesh Aghi, Amy E. Alving, David Herzog, Sachin Lawande, J. Michael Lawrie, Julio A. Portalatin, Peter Rutland, Manoj P. Singh, Margaret C. Whitman, Robert F. Woods, and Paul N. Saleh at the U. S. District Court for the Northern District of California.

Steven Reynolds v. Binance Holdings Ltd.: Complaint

March 27, 2020 - Complaint in Steven Cody Reynolds, a resident of Oregon described as "an experienced investor in cryptocurrencies" v. Binance Holdings Ltd., described as "a Cayman Islands limited company with headquarters in the Republic of Malta", at the U. S. District Court for the Northern District of California.

3 Point Ventures Ltd. et al v. Chet Mining Co. LLC et al: Complaint

March 24, 2020 - Complaint alleging fraud and breach of contract regarding crypto mining products and services in 3 Point Ventures Ltd., of the Cayman Islands, and Amir Fardghassemi, a resident of California and Dubai v. Chet Mining Co. LLC, of Wyoming; Chet Mining Co. Canada Ltd., described as a British Columbia company based in New York, and Chet Stojanovich, of New York, at the U. S. District Court for the Southern District of New York.

Diligence Inc. v. Nicholas Day: Diligence Opposition to Day's Motion To Dismiss

March 24, 2020 - Diligence Inc.'s Opposition to Nicholas Day's Motion to Dismiss regarding a dispute over ownership of Switzerland-domiciled Diligence Global Business Intelligence SA in Diligence Inc., a Delaware company majority owned by Cayman Islands-domiciled Information Security Investments Company v. Nicholas Day, a citizen of the United Kingdom residing in France, at the Court of Chancery of the State of Delaware.

Joseph Acerno v. XP Inc. et al: Class Action Complaint

March 21, 2020 - Class Action Complaint alleging securities law violations in Joseph Acerno v. XP Inc., described as a NASDAQ-listed, Cayman Islands-domiciled company that "purports to be a leading, technology-driven financial services platform and a trusted provider of low-fee financial products and services in Brazil"; Guilherme Dias Fernandes Benchimol, Bruno Constantino Alexandre dos Santos, Bernardo Amaral Botelho, Carlos Alberto Ferreira Filho, Gabriel Klas da Rocha Leal, Fabricio Cunha de Almeida, Guilherme Sant'Anna Monteiro da Silva, Julio Capua Ramos da Silva, Martin Emiliano Escobari Lifchitz, Geraldo José Carbone, Francisco Eduardo de Almeida Pinto, Maria Helena dos Santos Fernandes de Santana, Jared Wilson, Goldman Sachs & Co.. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, XP Investments US LLC, Itau BBA USA Securities Inc., BofA Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and UBS Securities LLC at the U. S. District Court for the Eastern District of New York.

Diligence Inc. v. Nicholas Day: Diligence's Motion for Partial Summary Judgment

March 11, 2020 - Diligence Inc.'s Motion for Partial Summary Judgment regarding a dispute over ownership of Switzerland-domiciled Diligence Global Business Intelligence SA in Diligence Inc., a Delaware company majority owned by Cayman Islands-domiciled Information Security Investments Company v. Nicholas Day, a citizen of the United Kingdom residing in France, at the Court of Chancery of the State of Delaware.

Roger Malmrose v. Riverwood Capital Partners et al: Complaint

March 11, 2020 - Complaint alleging fraud in Roger Malmrose v. Riverwood Capital Partners, of the Cayman Islands; Supply Chain Resources Group Inc., of Delaware; Nicolas Brathwaite, Sean McArthur, and Thomas Smach at the Superior Court, in and for the County of San Mateo, California.

Hain Capital Investors Master Fund Ltd. v. Rio Sul SA de CV: Complaint

March 09, 2020 - Complaint in Hain Capital Investors Master Fund Ltd., of the Cayman Islands v. Rio Sul S.A. de CV, of Mexico, at the U. S. District Court for the Southern District of New York.

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

View Recent Digests

BAHAMAS  
BERMUDA  
BRITISH VIRGIN ISLANDS  
CAYMAN ISLANDS  
Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.