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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.

ISLE OF MAN

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Kestrel Insurance Services Ltd.: Civil Penalty

January 17, 2020 - Public Statement announcing the imposition of a civil penalty against insurance broker Kestrel Insurance Services Limited, whose directors during the relevant period were identified as Alan Burrows, Kate Burrows, and Paul Coniglio-Burrows. Research by OffshoreAlert showed that, in its 2019 annual return with the Isle of Man Government, the company's shareholders were identified as Beacon Holdings Ltd., of the Isle of Man; Mark Burrows, of the Isle of Man; Alan Burrows, and Paul Coniglio-Burrows.

Phillip Sean McCarthy: Disqualified Director

December 20, 2019 - Notice by the Isle of Man Financial Services Authority regarding the Director Disqualification of Phillip Sean McCarthy.

Isle of Man FSA v. Phillip Sean McCarthy: Judgment

November 28, 2019 - Judgment imposing a Disqualification in Isle of Man Financial Services Authority v. Phillip Sean McCarthy at the Isle of Man High Court.

Fedelta Trust Ltd.: Regulatory Fine

November 21, 2019 - Public Statement by the Isle of Man Financial Services Authority regarding "the imposition of a discretionary civil penalty" against Fedelta Trust Limited.

Ex-UK military lost pensions in dubious Guernsey scheme, says regulator

October 19, 2019 - Former UK "military personnel" were persuaded to transfer their government pensions to Guernsey-based Marlborough Pension Trustees, which then invested their assets in unsuitable "high-risk investments" that failed and distributed false net asset values that concealed losses, a regulator has claimed.

Certes Capital Ltd.: Public Statement

October 18, 2019 - Public Statement by the Guernsey Financial Services Commission regarding "insolvent" Certes Capital Limited (in Voluntary Liquidation), formerly Marlborough Pension Trustees Limited.

Axiom Legal Financing Fund v. Royal Bank of Scotland International Ltd.: Judgment on Summary Judgment Application

October 15, 2019 - Judgment dismissing defendant's applications for summary judgment and strike out of Amended Particulars of Claim regarding a fraud committed by Cayman Islands-domiciled Axiom Legal Financing Fund in JP SPC 1 and JP SPC 4, both of the Cayman Islands, on behalf of Axiom Legal Financing Fund v. Royal Bank of Scotland International Limited at the High Court of Justice of the Isle of Man.

Isle of Man's Montpelier Trust in receivership after boss accused of diverting 'millions of pounds' of client funds

October 09, 2019 - Following a regulator's allegation that its principal, Watkin Gittins, has diverted "millions of pounds" of client money to fund his lifestyle, Isle of Man-based Montpelier (Trust & Corporate) Services Ltd. has been forced into receivership.

Montpelier (Trust and Corporate) Services Ltd.: Receiver Appointment

October 08, 2019 - News Release by the Isle of Man Financial Services Authority regarding the appointment of Receiver, Manager, and Inspectors for Montpelier (Trust and Corporate) Services Limited.

Isle of Man FSA v. Montpelier (Trust and Corporate) Services Ltd.: Receivership Order

October 02, 2019 - Order in Isle of Man Financial Services Authority v. Montpelier (Trust and Corporate) Services Limited at the High Court of Justice of the Isle of Man.

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.