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CW Baice Ltd. v. The Wisdomobile Group Ltd. et al: Complaint

May 26, 2020 - Complaint in CW Baice Limited, of the British Virgin Islands v. The Wisdomobile Group Limited, formerly known as The Ocean Swell Group Limited, of the Cayman Islands; The Wisdomobile Limited, formerly known as The Ocean Swell Limited, of the British Virgin Islands, and Wisdomobile HK Limited, formerly known as Hong Kong Baice Limited, of Hong Kong, at the U. S. District Court for the Northern District of California.

La Dolce Vita Fine Dining Company Ltd. et al v. Zhang Lan et al : Notice of Motion to Confirm Order of Attachment

May 19, 2020 - Notice of Motion to Confirm Order of Attachment following an arbitration award of $142 million regarding allegations of fraud in La Dolce Vita Fine Dining Company Limited, and La Dolce Vita Fine Dining Group Holdings Limited, both of the Cayman Islands v. Zhang Lan, described in the motion as "a citizen and resident of China" and, in an exhibit, as "a citizen and resident of St. Kitts and Nevis"; Grand Lan Holdings Group (BVI) Limited, of the British Virgin Islands; Qiao Jiang Lan Development Limited, f.k.a. South Beauty Development Limited, of the British Virgin Islands, and Metro Joy International LLC, of New York, at the U. S. District Court for the Southern District of New York.

1Globe Capital LLC et al: Penalties

May 13, 2020 - Order Imposing Penalties for securities violations on 1Globe Capital, LLC, described as a Delaware company based in Boston, MA, and Beijing, China that is "a family office that purchases stock listed on US exchanges", and Jiaqiang 'Chiang' Li, described as a resident of Boston and Beijing, regarding trading in Sinovac Biotech Ltd., described as an Antigua and Barbuda-domiciled firm based in China whose shares are listed on NASDAQ, before the U. S. Securities and Exchange Commission.

SEC v. Zhuobin Hong et al: Complaint

May 04, 2020 - Complaint alleging insider trading in the securities of Delaware-domiciled Sagent Pharmaceuticals, Inc. using "Hong Kong-based trading accounts held in the names of China-based relatives" in U. S. Securities and Exchange Commission v. Zhuobin Hong, a.k.a. Ben Hong, and Caixia Jiang, both described as former residents of California currently residing in China, as Defendants, and Zhuoyan Hong and Haotao Jiang, both of China, as Relief Defendants, at the U. S. District Court for the Central District of California.

American Bondholders Foundation, LLC et al: Penalties

April 30, 2020 - Administrative Order imposing monetary penalties on American Bondholders Foundation, LLC, of Delaware, and Jonna Bianco, of Tennessee, regarding "thousands of defaulted bonds issued by the Republic of China between 1912 and 1942", before the U. S. Securities and Exchange Commission.

Wei Duan: $126K Penalties

April 30, 2020 - Administrative Order imposing monetary penalties totaling $126,559 for insider trading against Wei Duan, a citizen of China, regarding Momo, Inc., a Cayman Islands company based in China, before the U. S. Securities and Exchange Commission.

Heng Huang v. DouYu International Holdings Ltd. et al: Class Action Complaint

April 29, 2020 - Complaint alleging securities violations in Heng Huang v. DouYu International Holdings Ltd., a Cayman Islands-domiciled, China-based company that is "purportedly one of the People's Republic of China's top two live-streaming video-game platforms" whose securities are listed on NASDAQ; Shaojie Chen, Wenming Zhang, Chao Cheng, Mingming Su, Hao Cao, Ting Yin, Haiyang Yu, Xi Cao, Xuehai Wang, Zhaoming Chen, Zhi Yan, Tencent Holdings Limited, of the Cayman Islands, and Cogency Global Inc. at the U. S. District Court for the Central District of California.

Jinyun Quan et al v. Herbert Lawson et al: Complaint

April 27, 2020 - Complaint alleging fraud in Jinyun Quan, of China, and Abundant Season Ltd., of the British Virgin Islands, v. Herbert Lawson, Steven Lawson, Lakepark Estates LLC, Windham Lakepark Estates LLC, Lake Park Florida Investors LLC, and Lake Park Florida Investors II LLC at the Superior Court of the State of California, County of Los Angeles.

Thomas Jenkins v. iQIYI Inc. et al: Class Action Complaint

April 27, 2020 - Class Action Complaint alleging securities fraud in Thomas Jenkins v. iQIYI Inc., described as a Cayman Islands-domiciled, China-based company that "provides online entertainment services under the iQIYI brand in China" and whose securities are listed on NASDAQ; Yu Gong, Xiaodong Wang, Robin Yanhong Li, Qi Lu, Herman Yu, Xuyang Ren, Victor Zhixiang Liang, and Chuan Wang at the U. S. District Court for the Northern District of California.

Katherine Wandel v. Phoenix Tree Holdings Ltd. et al: Class Action Complaint

April 24, 2020 - Class Action Complaint alleging securities violations in Katherine Wandel v. Phoenix Tree Holdings Limited, described as "a Cayman Islands holding company that leases and manages apartments in China"; Jing Gao, Derek Boyang Shen, Yan Cui, Wenbiao Li, Erhai Liu, Xian Chen, William Wang, Gang Ji, Edwin Fung, Jianping Ye, Jason Zheng Zhang, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, JPMorgan Securities LLC, Tiger Brokers (NZ) Limited, US Tiger Securities Inc., Cogency Global Inc., and Richard Arthur 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.

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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.