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

COOK ISLANDS

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Caledonian Bank liquidators paint bleak picture for creditors

April 10, 2015 - Cayman Islands-based Caledonian Bank has millions of dollars of related-party transactions that typically "can be difficult to recover full value" and is exposed to "a single large loan" of $93.7 million, representing more than half of all loans receivable. The grim news for creditors came in the first report of liquidators Keiran Hutchison and Claire Loebell.

Sen. Carl Levin Letter: Closing 10 Offshore Tax Loopholes

October 05, 2012 - Letter about closing offshore ten tax loopholes from Senator Carl Levin to Senator Harry Reid, Senator Mitch McConnell, Senator Dick Durbin, Senator Jon Kyl, Senator Kent Conrad, Senator Saxby Chambliss, Senator Mark Warner, Senator Mike Crapo, Senator Tom Coburn, Senator Michael Bennet, Senator Mike Johanns, Senator John McCain, Senator Jeanne Shaheen, Senator Lindsey Graham, Senator Sheldon Whitehouse, Senator Kelly Ayotte, Honorable Timothy Geithner, Secretary of the Treasury; Gene Sperling, Director, National Economic Council, dated October 5, 2012.

The Dry Trust v. Denise Rich et al: Rich's Motion to Dismiss

March 08, 2012 - Denise Rich's Motion to Dismiss in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

The Dry Trust v. Denise Rich et al: Amended Complaint

February 21, 2012 - Amended Complaint in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

The Dry Trust v. Denise Rich et al: Complaint

February 17, 2012 - Complaint in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

Dwane Hubbart v. Government of the Cook Islands et al: Complaint

November 30, 2011 - Complaint in Dwane Hubbart v. Government of the Cook Islands and Ministry of Health of the Cook Islands at the U. S. District Court for the District of Columbia.

Argentina: Ricardo Jaime

July 29, 2011 - Request from Argentina for Judicial Assistance in a criminal investigation into Ricardo Raul Jaime for alleged unjust enrichment and corruption while serving as National Transportation Secretary.

Insider Talking: March 24, 2011

March 24, 2011 - Alleged fraudster Michael Guard rises to the top at dubious Capital Conservator Group; The sordid tale of disbarred Bahamas attorney Jan Ward; Arnold Forbes claims he intends to sue Canadian broadcaster CTV for implicating him in an alleged investment fraud; Stanford University Professor Dr. Thomas Kenney accepts advisory role with dubious offshore investment firm Cedrus Investments; and Cayman Islands-domiciled Alacrity Capital Offshore Fund and related parties are sued in a dispute over administrative fees.

Cayman National Bank account used to launder $40 m, says US Gov't

September 10, 2007 - An account at Cayman National Bank was used by an Italian family to help defraud a state supported Italian bank out of approximately US$576 million in a scheme that also involved bribing a judge to fix litigation, it has been

Court dismisses offshore insurance fraud indictment

November 04, 2005 - A United States federal judge has dismissed a criminal indictment against all eight defendants who were accused of using several offshore reinsurers to commit a $45 million fraud.All 54 counts of conspiracy, fraud and money laundering against Michael Arthur Reeve,
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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.