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California Asphalt Production Inc. v. UBS AG et al: Summons With Notice

July 19, 2021 - Summons With Notice for $100 million alleging fraud in California Asphalt Production Inc. v. UBS AG, of Switzerlnd, and UBS AG, London Branch, of England, at the Supreme Court of the State of New York, County of New York.

Bavaguthu Shetty et al v. Bank of Baroda et al: Complaint

July 16, 2021 - Complaint for more than $7 billion "brought by two victims of Defendants' massive financial fraud surrounding NMC Health Plc and its related entities" that was "exposed when an investigative market research firm, Muddy Waters Research LLC, released a report questioning the integrity of NMC's audited financials" in Dr. Bavaguthu Raghuram Shetty and Neopharma LLC v. Bank of Baroda, of New York; Credit Europe Bank NV, of the Netherlands; Ernst & Young Global Limited, of England; Ernst & Young EMEIA Limited, of England; Prasanth Manghat, Promoth Manghat, Suresh Kumar Vadakke Kootala, and Suresh Kumar Nandiraju, all of India, at the Supreme Court of the State of New York, County of New York.

Dorset Ltd. v. Trax Ltd.: Stop Notice

July 15, 2021 - Stop Notice by Dorset Limited, of the Marshall Islands, regarding shares in Trax Ltd., of the Cayman Islands, registered to Panagiotis Triantafyllidis, filed at the Grand Court of the Cayman Islands.

Portugal's cannabis regulator set to give license to British investment fraudsters

July 13, 2021 - British serial investment fraudsters Paul Segal and Minette Coetzee who have been raising funds for their latest scheme, known as Symtomax, by pretending it has a license in Portugal to cultivate, sell, and export cannabis are about to be given a real one by the country's regulator, INFARMED.

Douglas Reynolds et al v. Callaway Golf Company: Discovery Application

July 13, 2021 - Application by Douglas Reynolds and John Rose, both of England, to take discovery from Callaway Golf Company for use in legal proceedings in England against Julian Morley and Truvis Limited alleging "breach of agreement and breach of trust relating to a licensing, sale, transfer and/or exploitation of certain rights (including intellectual property) of the 'Truvis' golf ball to Callaway Golf Company", filed at the U. S. District Court for the Southern District of California.

Anthony Constantinou charged in England over '£50M Ponzi scheme' involving BVI & Cayman

July 10, 2021 - Briton Anthony Constantinou has been criminally charged regarding an alleged £50 million Ponzi scheme known as CWM that, inter alia, involved entities in the British Virgin Islands, Cayman Islands, and England.

Cubitt Homes Developments Ltd. v. BVI Registrar of Corporate Affairs: Restoration Application (Hazel Marketing Ltd.)

July 09, 2021 - Fixed Date Claim Form regarding Hazel Marketing Inc. in Cubitt Homes Developments Limited, of London, England v. The Registrar of Corporate Affairs at the British Virgin Islands High Court

SEC v. Eric Watson et al: Complaint

July 09, 2021 - Complaint in U. S. Securities and Exchange Commission v. Eric J. Watson, described as "a New Zealand citizen and believed to be a resident of London, United Kingdom"; Oliver-Barret Lindsay, described as "a Canadian citizen and resident of Vancouver, British Columbia, Canada" and, during the relevant period, "principal of CMGT Capital Management, a Cayman Islands-exempt broker-dealer registered with the Cayman Islands Monetary Authority", and Gannon Giguiere, described as a resident of Newport Coast, California" who "owned and operated TheMoneyStreet.com, a stock promotion website", at the U. S. District Court for the Southern District of New York.

DTCC Derivatives Repository Plc: €408K Fine

July 08, 2021 - Public Notice by the European Securities and Markets Authority that it has imposed a fine of €408,000 on DTCC Derivatives Repository Plc for regulatory breaches.

Horus Malta Ltd.: License Cancellation

July 08, 2021 - Public Notice by the Malta Financial Services Authority that it has cancelled the license of Horus Malta Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Horus Malta Limited was incorporated on September 14th, 2015, its sole director is Gilles Farrugia, described as a citizen of France residing in Switzerland, former directors include Xavier Rubio, who resigned effective June 1st, 2020; David Raphael Busuttil, who resigned effective April 16th, 2020; Thierry Leger, a citizen of France residing in London, England, who resigned effective November 6th, 2017, and Diandra Muscat, who resigned effective September 1st, 2017, and its sole shareholder is Horus Europe Holdings Limited, which was incorporated in Malta on September 10th, 2015, whose directors are Gilles Farrugia and Thierry Leger, and whose shareholders are 5G Limited, a Maltese company whose sole director and shareholder is Gilles Farrugia; Jeanval S.A.R.L., of Luxembourg; Salvino Busuttil, of Malta, and Michael Fornara, a citizen of the United Kingdom residing in France.

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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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.