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XiO Fund LLP v. Silicon Valley Bank: Discovery Application

January 14, 2020 - Application by Gwynn Hopkins, of Perun Consultants Limited, in Hong Kong, and Gordon MacRae, of Kalo (Cayman) Limited, of the Cayman Islands, as Joint and Several Interim Receivers of XiO Fund LLP, of the Cayman Islands, to take discovery from Silicon Valley Bank for use in legal proceedings in the Cayman Islands, filed at the U. S. District Court for the Northern District of California. Editor's Note: This discovery application includes, as an exhibit, a copy of the underlying complaint alleging fraud involving hundreds of millions of dollars that was filed under seal at the Grand Court of the Cayman Islands on May 8th, 2019 and, eight months later, remains sealed as part of the Cayman Court's secretly-imposed mass-sealing policy - implemented by Chief Justice Anthony Smellie - that conceals from public view even the existence of many cases involving allegations of impropriety and insolvency against the jurisdiction's hedge funds.

KTH Capital Management Ltd.: License Revocation

January 14, 2020 - Decision Notice by the Cayman Islands Monetary Authority announcing the license revocation of KTH Capital Management Limited.

KTH Capital Ltd.: Fund Cancellation

January 02, 2020 - Decision Notice by the Cayman Islands Monetary Authority announcing the cancellation of the mutual fund registration of KTH Capital Limited, whose directors are identified as Du Wang and Vivian Ding Li.

Thong Soon Seng v. Pharmally International Holding Company Ltd. et al: Claim Form

December 27, 2019 - Fixed Date Claim Form in Thong Soon Seng, of Singapore v. Pharmally International Holding Company Limited, of the Cayman Islands; Longterm Lista Limied, of the British Virgin Islands; Wang Mingliang, of China, and Huang Wenlie, of China, at the British Virgin Islands High Court.

Great Simplicity Investment Corp. v. BitMain Technologies Holding Company: Originating Summons

December 13, 2019 - Originating Summons in Great Simplicity Investment Corporation v. BitMain Technologies Holding Company at the Grand Court of the Cayman Islands.

SEC v. Telefonaktiebolaget LM Ericsson: Complaint

December 06, 2019 - Complaint arising from "violations of the anti-bribery, recordkeeping, and internal accounting controls provisions of the Foreign Corrupt Practices Act" in U. S. Securities and Exchange Commission v. Telefonaktiebolaget LM Ericsson, of Sweden, at the U. S. District Court for the Southern District of New York.

Sherri Leshore et al v. ByteDance Technology Co. Ltd. et al: Class Action Complaint

December 03, 2019 - Class Action Complaint alleging fraud in TK, through her mother, Sherri Leshore, and A.S., through her mother, Laura Lopez v. ByteDance Technology Co. Ltd., of China; Inc., of California;, of the Cayman Islands, and TikTok Inc., of California, at the U. S. District Court for the Northern District of Illinois.

Eucken China Fund: Restoration Application

November 27, 2019 - Originating Application in the matter of Eucken China Fund at the Grand Court of the Cayman Islands.

Bulgaria: PW Arms, Inc. et al

November 25, 2019 - Application for the appointment of a Commissioner to collect evidence from Puget Bank, now known as Heritage Bank; PW Arms, Inc., and Hazem Rayful - pursuant to a request for judicial assistance from Bulgaria - for a criminal investigation into "unknown target(s)" for suspected money laundering.

China Hospitals Inc.: Chapter 15 Petition

November 24, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Hong Kong by Cosimo Borrelli, as the Foreign Representative of China Hospitals Inc., domiciled in the Cayman Islands-domiciled, based in Hong Kong, at the U. S. Bankruptcy 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.

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EXPOSED: Symtomax Group's fraudulent €12M Bond Offering
A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.
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.