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Sabena Puri v. USA: Petition to Quash IRS Summons

May 28, 2020 - Petition to Quash Third Party Summons issued to Citibank NA by the Internal Revenue Services regarding "India Tax Liabilities" in Sabena Puri, of India v. USA at the U. S. District Court for the Central District of California.

Cayman regulator revokes license of Hinduja Bank

May 28, 2020 - The Cayman Islands Monetary Authority has revoked the banking license of Hinduja Bank & Trust (Cayman) Ltd. for suspected insolvency, its Switzerland-based sole director, Gilbert Pfaeffli, not being "fit and proper", and other regulatory breaches

Deepak Raswant v. Centaur Ventures Ltd. et al: Judgment

April 29, 2020 - Judgment in Deepak Raswant, of New Delhi, India v. Centaur Ventures Ltd., The Centaur Group Limited, and Daniel James McGowan at Bermuda Supreme Court.

Meril GmbH et al v. Edwards Lifesciences Corp. et al: Discovery Application

April 27, 2020 - Application by Meril GmbH, of Germany, and Meril Life Sciences Private Limited, of India, to take discovery from Edwards Lifesciences Corp., Edwards Lifesciences LLC, and Edwards Lifesciences Pvt Inc., all of Delaware, for use in legal proceedings in Italy, France, and the United Kingdom against Meril by Edwards Lifesciences Corporation and its subsidiary Edwards Lifesciences Limited, filed at the U. S. District Court for the District of Delaware.

Vijay Mallya v. India Government: Judgment

April 20, 2020 - Approved Judgment regarding an appeal against a lower court's finding that there was "a prima facie case of conspiracy to defraud" in Vijay Mallya, as Appellant v. Government of India, as Respondent, and National Crime Agency, as Interested Party, at the High Court of Justice, in London.

Liberty Highrise Pvt. Ltd. v. Praxis Energy Agents DMCC et al: Complaint

March 19, 2020 - Complaint in Liberty Highrise Pvt. Ltd., of India v. Praxis Energy Agents DMCC, of Dubai, and Praxis Energy Agents Pte Ltd., of Singapore, at the U. S. District Court for the Southern District of New York.

Stenn Assets UK Ltd. v. Citibank et al: Discovery Application

March 04, 2020 - Application by Stenn Assets UK Limited, of England, to take discovery from Citibank, N.A., The Bank of New York Mellon, Société Générale, New York, HSBC Bank USA, N.A., BNP Paribas USA, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Co. Americas, Bank of Nova Scotia, UBS AG, Bank of America, N.A., Standard Chartered Bank US, Commerzbank AG US and The Clearing House Payments Company, LLC for use in "contemplated arbitration proceedings" in Dubai against Arion Metals FZE, of Ras Al-Khaimah, filed at the U. S. District Court for the Southern District of New York.

Firestar Diamond Inc. et al v. Ami Modi et al: Complaint

February 25, 2020 - Complaint alleging racketeering regarding "the largest bank fraud in Indian history" and involving companies and individuals in Belgium, the British Virgin Islands, Delaware, Dubai, England, Hong Kong, New York, South Dakota, and Texas in Firestar Diamond Inc., Firestar Diamond Inc., Fantasy Inc., and Old AJ Inc., f.k.a. Jaffe Inc. v. Ami Javeri, a.k.a. Ami Modi; Purvi Mehta, a.k.a. Purvi Modi; Nehal Modi, Neeshal Modi, Central Park Real Estate LLC, Central Park South 50 Properties LLC, Trident Trust Company (South Dakota) Inc., as Trustee of the Ithaca Trust; Twin Fields Investments Ltd., Auragem Company Ltd., Brilliant Diamonds Ltd., Eternal Diamonds Corporation Ltd., Fancy Creations Company Ltd., Hamilton Precious Traders Ltd., Sino Traders Ltd., Sunshine Gems Ltd., Unique Diamond and Jewellery FZC, World Diamond Distribution FZE, Vista Jewelry FZE, Empire Gems FZE, Universal Fine Jewelry FZE, Diagems FZC, Tri Color Gems FZE, Pacific Diamonds FZE, Himalayan Traders FZE, Unity Trading FZE, Fine Classic FZE, and DG Brothers FZE at the U. S. Bankruptcy Court for the Southern District of New York.

Sunwealth Global HK Ltd. et al v. Pinder International Inc. et al: Complaint

February 19, 2020 - Complaint alleging racketeering against "an habitual fraudster, and two of his closely held companies" in Sunwealth Global HK Ltd., of Hong Kong, and Anil Kumar Dhanwani, of India v. Pinder International Inc., 30 Below Corp., f.k.a. Ckel Generational Corp., and Jitander Singh Dhall, a.k.a. Ricky Singh, all of New York, at the U. S. District Court for the Southern District of New York.

PJSC Uralkali v. Lawrence Stroll: Discovery Application

January 30, 2020 - Application by PJSC Uralkali to take discovery from Lawrence Stroll, a citizen of Canada apparently residing in Switzerland, for use in legal proceedings in England against Geoffrey Rowley and Jason Baker, "as administrators of Force India Formula One Team Limited", filed 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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Creditors apply to wind up Cayman's Obelisk Capital Management
Alleging "serious wrongdoing", two creditors claiming to be owed $448,333 under a loan bearing interest at 10% per month have applied to wind up Cayman Islands-based Obelisk Capital Management Ltd., which manages factoring and gold funds for Obelisk Global, whose directors include Jazeb Jones, who was previously dismissed as MD of a Cayman bank over his relationship with a client accused of committing a £50 million fraud.
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.