OffshoreAlert
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

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

Stephen Cryer: Disqualification

October 22, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has disqualified Stephen David Cryer, described as "a senior financial advisor", for not being "fit and proper", a penalty that the regulator stated "reflects the serious nature of the lack of integrity of Mr Cryer".

Big Time Holdings Inc.: Securities Registration Revocation

October 19, 2020 - Administrative Order by the U. S. Securities and Exchange Commission revoking the registration of securities issued by Big Time Holdings, Inc., described as a "forfeited Delaware corporation located in Douglas, Isle of Man". Editor's Note: In a filing with the SEC on October 29th, 2018, Big Time Holdings Inc. identified its CEO and sole director as David Smeed, its former directors and officers as Thomas DeNunzio, Brian Kistler, and Mandla Gwadiso, and its principal shareholders as Ascot Group Plc, of the Isle of Man, and Palewater Global Management, Inc., of New York, NY. Records filed with the Isle of Man's Companies Registry show that the directors of Ascot Group Plc are David Gordon Smeed, of Dublin, Ireland, and Lee John Bernard Murphy, of the Isle of Man.

Island Financial Solutions Ltd.: £63K Fine

September 28, 2020 - Public Statement by the Isle of Man Financial Services Authority imposing a fine of £62,996 on Island Financial Solutions Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Isle of Man Companies Registry showed that Island Financial Solutions Limited was formed on October 12th, 2002 and, in the company's annual return for 2019, its directors and shareholders were identified as Michael Shane Twist, a.k.a. Mike Twist, and Stephen John Groom, a.k.a. Steve Groom, each described as a "Financial Advisor" who is a citizen of the United Kingdom.

Greg Taylor: Disqualification

September 25, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has disqualified Greg Nicholas Taylor, who worked as an insurance administrator.

ASW Law Ltd. v. Stavanger Ltd.: Writ of Summons

August 28, 2020 - Specially Indorsed Writ of Summons for $175,000 in allegedly unpaid legal fees, plus interest, in ASW Law Limited, a Bermuda law firm v. Stavanger Limited, of the Isle of Man, at Bermuda Supreme Court. Editor's Note: Research by OffshoreAlert in the Isle of Man Companies Registry showed that Stavanger Limited was incorporated in the Isle of Man on March 10th, 2014 and that its sole director is Kleino Limited, also of the Isle of Man. Kleino Limited was incorporated in the Isle of Man on December 30th, 2010 and its directors are Mark Jonathan Lewin, Christopher James Tushingham, and John Craig Brown, all of the Isle of Man.

Nkwe Platinum Ltd. v. Glendina Ltd. et al: Originating Summons

August 21, 2020 - Originating Summons in Nkwe Platinum Limited, of Bermuda v. Glendina Limited, of Australia, as Trustee of the Sunset Superannuation Fund; Genorah Resources Proprietary Limited, of South Africa, and 456 individual defendants from Australia, Germany, Isle of Man, Malaysia, New Zealand, Sweden, Thailand, United Kingdom, and United States at Bermuda Supreme Court.

Legion N.A. Investments Ltd.: Chapter 15 Petition

August 21, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Isle of Man by Carl Jackson, Simon Bonney, and Amy Louise Slee, as the Foreign Representatives of Legion N.A. Investments Ltd., described as being "part of a larger group of companies called the 'Arena Group', which also includes, among others, Sulby Alternatives Limited, Square Mile Services, Limited, Misprint Limited, Land Consultants Limited, and Local Protectors Limited", filed at the U. S. Bankruptcy Court for the Southern District of New York.

Paul Deighton: Disqualified Director

August 11, 2020 - Notice by the Isle of Man Financial Services Authority that Paul Deighton has received a 12-year Disqualification. Editor's Note: In December, 2019, Deighton was sentenced to four years and nine months in prison after being convicted of swindling his clients out of nearly £700,000 in a fraudulent investment scheme via his company, Haven Administration Limited, according to a news article by the Isle of Man Examiner.

Isle of Man Assurance Ltd.: Fine

August 05, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £87,108 on Isle of Man Assurance Limited for "a number of regulatory failings".

Isle of Man Insurance Management Ltd.: Fine

August 05, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £7,770 on Isle of Man Insurance Management Limited for "a number of regulatory failings".

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.

View Recent Digests

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.