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Dolfin Financial UK Ltd.: Restrictions

March 12, 2021 - Public Notice by the United Kingdom's Financial Conduct Authority that it has "imposed a number of restrictions on Dolfin Financial (UK) Ltd. stopping it from carrying on any regulated activities due to concerns about the way it conducts its business". Editor's Note: Research by OffshoreAlert at Companies House for England and Wales showed that Dolfin Financial (UK) Ltd. was incorporated on November 5th, 2010, its directors are Rodney Pennington Baker-Bates, who is chairman of British insurance broker Willis Ltd.; Stephen Michael Kingsley, a former partner of PR firm FTI Consulting, and Amir Mohammed Nabi, who are all citizens of the United Kingdom, its former directors include Sanjay Maraj, a citizen of the United Kingdom, who resigned effective September 30th, 2020, and Denis Andras Nagy, a citizen of Hungary, who resigned effective April 30th, 2020, and its "person with significant control" is Denis Nagy.

Novasigma Limited: Unlicensed Activity

February 25, 2021 - Public Warning by the Gibraltar Financial Services Commission that Novasigma Limited "appears to be purporting to offer company management services in Gibraltar" without a license. Editor's Note: Research by OffshoreAlert at Companies House Gibraltar showed that Novasigma Limited was incorporated in Gibraltar on May 21st, 2015 and, in its most recent annual return dated May 4th, 2018, the company's sole director was identified as Jussi Olavi Hallikas, described as a Finnish "tax advisor" residing in Tbilisi, Georgia, and its sole shareholder as Novasigma Limited, of the Seychelles. The company's website at www.novasigma.com is no longer operational. In his LinkedIn profile, Hallikas is currently described as "Managing Director" of "Fidelcrest", a company purportedly domiciled in Hungary that offers "forex trading" products and services at www.fidelcrest.com.

Seadrill Ltd. et al: Chapter 11 Petition

February 10, 2021 - Chapter 11 petitions by companies in Angola, Bermuda, Brazil, Canada, Hong Kong, Hungary, Liberia, Luxembourg, Malaysia, Mexico, Netherlands, Nigeria, Singapore, United Arab Emirates, United Kingdom, and the United States, specifically Seadrill Limited, Seadrill Limited, Asia Offshore Drilling Limited, Asia Offshore Rig 1 Limited, Asia Offshore Rig 2 Limited, Asia Offshore Rig 3 Limited, Eastern Drilling AS, North Atlantic Alpha Ltd., North Atlantic Elara Ltd., North Atlantic Epsilon Ltd., North Atlantic Linus Charterer Ltd., North Atlantic Navigator Ltd., North Atlantic Phoenix Ltd., North Atlantic Venture Ltd., Scorpion Courageous Ltd., Scorpion Deepwater B.V., Scorpion Deepwater Ltd., Scorpion Drilling Ltd., Scorpion Freedom Ltd., Scorpion International Ltd., Scorpion Nederlandse B.V., Scorpion Offshore Inc., Scorpion Resolute Ltd., Scorpion Rigs Ltd., Scorpion Servicos Offshore Ltda, Scorpion USA Expats, Inc., Scorpion Vigilant Ltd., SDS Drilling Ltd., Sea Dragon de Mexico S de R.L. de CV, Seadrill Abu Dhabi Operations Limited, Seadrill Americas, Inc., Seadrill Angola LDA, Seadrill Ariel Ltd., Seadrill Australia Pte Ltd., Seadrill Brunei Ltd., Seadrill Callisto Ltd., Seadrill Carina Ltd., Seadrill Castor Ltd., Seadrill Castor Pte Ltd., Seadrill Common Holdings Ltd., Seadrill Cressida Ltd., Seadrill Deepwater Charterer Ltd., Seadrill Deepwater Contracting Ltd., Seadrill Deepwater Crewing Ltd., Seadrill Deepwater Holdings Ltd., Seadrill Deepwater Units Pte Ltd., Seadrill Dione Ltd., Seadrill Eclipse Ltd., Seadrill Eminence Ltd., Seadrill Equatorial Guinea Ltd., Seadrill Europe Management AS, Seadrill Far East Limited, Seadrill Freedom Ltd., Seadrill GCC Operations Ltd., Seadrill Gemini Ltd., Seadrill Global Services Ltd., Seadrill Gulf Operations Neptune LLC, Seadrill Holdings Singapore Pte Ltd., Seadrill Hyperion Ltd., Seadrill Indonesia Ltd., Seadrill Insurance Ltd., Seadrill International Resourcing DMCC, Seadrill Investment Holding Company Limited, Seadrill Jack Up Holding Ltd., Seadrill Jack Up I B.V., Seadrill Jack Up II B.V., Seadrill Jack-Ups Contracting Ltd., Seadrill Jupiter Ltd., Seadrill Labuan Ltd., Seadrill Management (S) Pte Ltd., Seadrill Management AME Ltd., Seadrill Management Ltd., Seadrill Mimas Ltd., Seadrill Mira Hungary Kft., Seadrill Mira Ltd., Seadrill Neptune Hungary Kft., Seadrill Newfoundland Operations Ltd., Seadrill Nigeria Operations Limited, Seadrill North Atlantic Holdings Limited, Seadrill North Sea Crewing Ltd., Seadrill Norway Crew AS, Seadrill Norway Operations Ltd., Seadrill Offshore AS, Seadrill Offshore Malaysia Sdn. Bhd., Seadrill Offshore Nigeria Limited, Seadrill Operations de Mexico S de R.L. de CV, Seadrill Orion Ltd., Seadrill Pegasus (S) Pte Ltd., Seadrill Prospero Ltd., Seadrill Proteus Ltd., Seadrill Rhea Ltd., Seadrill Rig Holding Company Limited, Seadrill Saturn Ltd., Seadrill Saudi I B.V., Seadrill Saudi II B.V., Seadrill Servicos de Petroleos Ltda., Seadrill Sevan Holdings Limited, Seadrill Telesto Ltd., Seadrill Tellus Ltd., Seadrill Tethys Ltd., Seadrill Titan Ltd., Seadrill Titania Sarl, Seadrill Treasury UK Limited, Seadrill Triton Ltd., Seadrill Tucana Ltd., Seadrill UK Ltd., Seadrill UK Operations Ltd., Seadrill UK Support Services Ltd., Seadrill Umbriel Ltd., Sevan Brasil Ltd., Sevan Developer Ltd., Sevan Driller Ltd., Sevan Drilling Limited, Sevan Drilling North America LLC, Sevan Drilling Pte Ltd., Sevan Drilling Rig II AS, Sevan Drilling Rig II Pte Ltd., Sevan Drilling Rig IX Pte Ltd., Sevan Drilling Rig V Pte Ltd., Sevan Louisiana Hungary Kft., and Sevan Marine Servicos de Perfuracao Ltda at the U. S. Bankruptcy Court for the Southern District of Texas.

Seadrill Polaris Ltd. et al: Chapter 11 Petition

December 01, 2020 - Chapter 11 Bankruptcy Petition by Seadrill Polaris Ltd., of Bermuda; Seadrill Partners LLC, of England; Seadrill OPCO Sub LLC, of England; Seabras Rig Holdco Kft., of Hungary; Seadrill Operating GP LLC, of England; Seadrill Auriga Hungary Kft., of Hungary; Seadrill Operating LP, of the Marshall Islands; Seadrill Canada Ltd., of Canada; Seadrill Partners B.V., of the Netherlands; Seadrill Capricorn Holdings LLC, of the Marshall Islands; Seadrill Partners Finco LLC, of England; Seadrill China Operations Ltd., of Luxembourg; Seadrill Partners Malaysia Sdn. Bhd., of Malaysia; Seadrill Deepwater Drillship Ltd., of England; Seadrill Partners Operating LLC, of the Marshall Islands; Seadrill Ghana Operations Ltd., of England; Seadrill Mobile Units (Nigeria) Ltd., of Nigeria; Seadrill T-15 Ltd., of Bermuda; Seadrill Gulf Operations Auriga LLC, of England; Seadrill T-16 Ltd., of Bermuda; Seadrill Gulf Operations Sirius LLC, of England; Seadrill Texas LLC, of England; Seadrill Gulf Operations Vela LLC, of England; Seadrill US Gulf LLC, of England; Seadrill Hungary Kft., of Hungary; Seadrill Vela Hungary Kft., of Hungary; Seadrill International Ltd., of England; Seadrill Vencedor Ltd., of Bermuda, and Seadrill Leo Ltd., of England, at the U. S. Bankruptcy Court for the Southern District of Texas.

Pacific Drilling LLC et al: Chapter 11 Petition

October 30, 2020 - Chapter 11 Petition by Pacific Drilling LLC, Pacific Drilling Operations Inc., Pacific Drilling Inc., and Pacific Drilling Company Limited, all of Houston, Texas; Pacific Drilling SA, Pacific Drilling Finance S.À.R.L., Pacific Sharav S.À.R.L., and Pacific Drillship S.À.R.L., all of Luxembourg; Pacific Drilling Limited, Pacific Scirocco Ltd., Pacific Mistral Ltd., and Pacific Bora Ltd., all of Liberia; Pacific Drilling Operations Limited, Pacific Drilling V Limited, Pacific Drilling VII Limited, Pacific Drillship Nigeria Limited, and Pacific Santa Ana Limited, all of the British Virgin Islands; Pacific Sharav Korlátolt Felelosségu Társaság, of Hungary, and Pacific Drilling Holding (Gibraltar) Limited, of Gibraltar, at the U. S. Bankruptcy Court for the Southern District of Texas.

Noleum Holdings Partners LP v. Miros Development Group Inc.: Fixed Date Claim Form

August 03, 2020 - Fixed Date Claim Form in Noleum Holdings Partners LP v. Miros Development Group Inc at the British Virgin Islands High Court.

Hungary: Zsolt Kurányi

July 20, 2020 - Application for the appointment of a Commissioner to collect evidence from JPMorgan Chase Bank regarding Kratos LLC - pursuant to a request for judicial assistance from Hungary - for a criminal investigation into Zsolt Kurányi for tax fraud and money laundering.

Hungary: JPMorgan Chase Bank

March 27, 2020 - Application for the appointment of a Commissioner to collect evidence from JPMorgan Chase Bank - pursuant to a request for judicial assistance from Hungary - for a criminal investigation into "unknown subjects for fraud" committed against companies in China and Hungary.

CFTC v. Yukom Communications Ltd. et al: Complaint

August 12, 2019 - Complaint for "an illegal and fraudulent 'binary options' trading scheme" involving companies in Anguilla, Bulgaria, Cyprus, Gibraltar, Israel, Malta, Marshall Islands, Mauritius, Saint Vincent and the Grenadines, and the United Kingdom in Commodity Futures Trading Commission v. Yukom Communications Ltd., of Israel; Linkopia Mauritius Ltd., of Mauritius; Wirestech Limited, d.b.a. BigOption, of the Marshall Islands; WSB Investments Ltd., d.b.a. BinaryBrook, of Anguilla, Gibraltar, St. Vincent and the Grenadines, and the United Kingdom; Zolarex Ltd., d.b.a. BinaryOnline, of the Marshall Islands; Yakov Cohen, an Israeli residing in Israel and Mauritius; Yossi Herzog, of Israel; Lee Elbaz, of Israel, currently incarcerated in the USA, and Shalom Peretz, of Israel, at the U. S. District Court for the Northern District of Illinois.

Estate of Vince Richter v. San Diego County Credit Union: Discovery Application

June 20, 2019 - Application by the Probate Court in Gödöllö, Hungary, to take discovery from San Diego County Credit Union for use in probate proceedings in Hungary involving the Estate of Vince Richter, Deceased, filed at the U. S. District Court for the Southern District of California.

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.