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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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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.

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

October 02, 2019 - Judgment appointing Receiver, Manager and Inspectors 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.

Galaxy Lights Ltd. v. Kinda Priestley et al: Complaint

September 24, 2019 - Complaint in Galaxy Lights Ltd., of the Isle of Man, as owner of the M/V Santandrea v. Kinda Priestley and J. Goodison Co. Inc., both of Rhode Island, at the U. S. District Court for the District of Rhode Island.

USA v. Steve Pursley: Jury Verdict

September 06, 2019 - Jury Verdict in USA v. Jack Stephen Pursley, a.k.a. Steve Pursley, an attorney based in Houston, Texas, regarding an offshore tax evasion scheme involving, inter alia, companies in Australia and the Isle of Man and a nominee in Brazil, filed at the U. S. District Court for the Southern District of Texas.

British fraud firm Etaireia Investments goes into administration

August 29, 2019 - British firm Etaireia Investments Plc has gone into administration - four years after being exposed by OffshoreAlert for perpetrating a property-based investment fraud involving firms and individuals in the BVI, England, Gibraltar, Isle of Man, Scotland, Seychelles, and Spain.

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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$150M lawsuit alleges crypto fraud by parties in Antigua, BVI, Hong Kong & US
A complaint for damages of $150M for alleged cryptocurrency futures trading fraud and the operation of an unlicensed money transmitting business has been filed against individuals and companies in Antigua, British Virgin Islands, Hong Kong, and the United States, including Alameda Research and FTX Trading.
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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.