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The Employees' Retirement System of the City of Milwaukee v. Allianz Global Investors U.S. LLC et al: Complaint

October 16, 2020 - Complaint alleging "negligence and breach of contractual and fiduciary duties arising from misconduct and gross mismanagement of two investment funds: AllianzGI Structured Alpha 1000 Plus LLC (“Alpha 1000 Plus”), and AllianzGI Structured Alpha U.S. Fixed Income 250 LLC" in The Employees' Retirement System of the City of Milwaukee v. Allianz SE, of Germany; Allianz Asset Management GmbH, of Germany; Allianz Global Investors U.S. LLC, Allianz Global Investors U.S. Holdings LLC, Allianz of America Inc., Allianz Asset Management of America Holdings Inc., Allianz Asset Management of America LLC, Allianz Asset Management of America LP, PFP Holdings Inc., all of Delaware, and ABC Insurance Co., described as "a fictitiously named insurance entity" whose "state of incorporation, name, and principal place of business are unknown", at the U. S. District Court for the Southern District of New York.

Madison Asset LLC v. Deutsche Bank AG: Complaint (Redacted)

October 14, 2020 - Redacted Complaint "against Deutsche for its role in a fraudulent trading scheme orchestrated by Madison's former principals and principals of related entities between 2014 and 2017 that caused Madison to suffer more than $200 million in damages" in Martin Trott and Christopher Smith, of RHSW (Cayman) Limited, as Joint Official Liquidators of Madison Asset LLC (in Official Liquidation), described as "a Cayman investment fund that is now in official liquidation proceedings before the Grand Court of the Cayman Islands" v. Deutsche Bank AG at the U. S. Bankruptcy Court for the Southern District of New York.

Condor Flugdienst GmbH: Chapter 15 Petition

October 02, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Germany by Christoph Debus, Ralf Teckentrup, Christian Schmitt, Detlef Specovius, as the Foreign Representatives of Condor Flugdienst GmbH, described as "a global airline carrier based in Germany" that "belonged to the Thomas Cook Group, an international tourism group with your operation and airline business divisions", at the U. S. Bankruptcy Court for the Northern District of Illinois.

USA v. Nika Nazarovi et al: Indictment

September 29, 2020 - Criminal Indictment against "citizens of multiple countries, including Georgia, Latvia, Romania, Bulgaria, and Belgium" who were described as being "members of a transnational organized crime network known as 'QQAAZZ'" that "provided money laundering services to significant cybercriminal organizations that stole money from unwitting victims in the United States and abroad" involving accounts at financial institutions in Belgium, Germany, Portugal, Spain, the Netherlands, Turkey, and the United Kingdom in USA v. Nika Nazarovi, a.k.a. Nika Utiashvili, a.k.a. Mihail Atansov, a.k.a. Stefan Trifonov Zhelyazkov; Martins Ignatjevs, a.k.a. Yordan Angelov Stoyanov, a.k.a. Aleksander Tihomirov, a.k.a. Svetlin Iliyanov Asenov; Aleksandre Kobiashvili, a.k.a. Antonios Nastas, a.k.a. Ognyan Krasimirov Trifonov; Dmitrijs Kuzminovs, a.k.a. Parush Gospodinov Genchev; Valentins Sevecs, a.k.a. Marek Jaswilko, a.k.a. Rafal Szczytko; Dmitrijs Slapins, Armens Vecels, Artiom Capacli, Ion Cebanu, Tomass Trescinkas, Ruslans Sarapovs, Silvestrs Tamenieks, Andelhak Hamdaoui, and Petar Iliev at the U. S. District Court for the Western District of Pennsylvania.

Avago Technologies International Sales Pte. Ltd. v. Harman International Industries Inc. et al: Discovery Application

September 25, 2020 - Ex Parte Application by Avago Technologies International Sales Pte. Limited, of Singapore, and CA Inc., of Delaware, to take discovery from Harman International Industries Inc. and Harman Becker Automotive Systems Inc. for use in legal proceedings in Germany regarding "patent infringement claims" against BMW AG and BMW Bank GmbH, filed at the U. S. District Court for the Eastern District of Michigan.

BMW et al: $18M Fine

September 24, 2020 - Administrative Order imposing a fine of $18 million in U. S. Securities and Exchange Commission v. Bayerische Motoren Werke Aktiengesellschaft, of Germany; BMW of North America, LLC and BMW US Capital, LLC, both of Delaware, regarding "inaccurate disclosures ... of its retail vehicle sales volume in the United States".

Germany: Stefan Greiner et al

September 22, 2020 - Application for the appointment of a Commissioner to collect evidence from Wells Fargo Bank - pursuant to a request for judicial assistance from Germany - for a criminal investigation into "unknown subjects for fraud", described as "purported Swiss stockbrokers using the name Stefan Greiner and Martin Gerler".

Kung Fury 2 Europe UG v. Creasun Entertainment USA Inc. et al: Complaint

September 16, 2020 - Complaint alleging "blatant violation of its contractual duty to provide $10 million in financing for the film Kung Fury 2" in Kung Fury 2 Europe UG, of Germany v. Creasun Entertainment USA Inc. and Minglu Ma at the Superior Court of the State of California, County of Los Angeles.

State of Libya v. Strabag SE: Petition To Vacate Arbitral Award

September 15, 2020 - Petition To Vacate Arbitral Award of €82 million, £1.1 million, and $497,533 in State of Libya v. Strabag SE, of Austria, at the U. S. District Court for the District of Columbia.

Teamster Members Retirement Plan v. Allianz Global Investors. U.S. LLC et al: Complaint

September 02, 2020 - Complaint alleging "breaches of contract, violations of fiduciary duty, and other knowing and reckless (or at least negligent) acts and omissions led to the collapse of a hedge fund and the evaporation, almost overnight, of almost a billion dollars of its investors' money" in Teamster Members Retirement Plan, f.k.a. GCIU Inter-Local Pension Plan, individually and on behalf of all others similarly situated v. Allianz Global Investors U.S. LLC, of Delaware; Allianz Global Investors U.S. Holdings LLC, of Delaware; Allianz SE, of Germany; Allianz Asset Management GmbH, of Germany; Allianz of America Inc., of Delaware; Allianz Asset Management of America Holdings Inc., of Delaware; Allianz Asset Management of America LLC, of Delaware; Allianz Asset Management of America L.P., of Delaware, and PFP Holdings Inc., of Delaware, 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.