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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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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".

Citadel Insurance Company Ltd.: Fine

August 05, 2020 - Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £2,170 on Citadel Insurance Company Limited for "a number of regulatory failings".

Rybovich Boat Company LLC v. M/Y Naia et al: Complaint

July 31, 2020 - Complaint in Rybovich Boat Company LLC v. M/Y Naia, described as "a 242-foot Freire Shipyard motor yacht" registered in the Isle of Man, and Peninsula Marine Limited, of the Isle of Man, at the U. S. District Court for the Southern District of Florida.

SEC v. Nelson Gomes et al: TRO Motion

June 09, 2020 - Emergency Ex Parte Motion for a Temporary Restraining Order regarding accounts in Canada, the Cayman Islands, Hong Kong, Isle of Man, Malta, and the USA in U. S. Securities and Exchange Commission v. Nelson Gomes, described as a citizen of Canada who "resides at various times in the Bahamas and Hong Kong"; Michael Luckhoo-Bouche, a citizen of Canada residing in Mississauga, Ontario; Shane Schmidt, a citizen of Canada residing in Vancouver, British Columbia; Douglas Roe, a citizen of Canada residing in Vancouver, British Columbia; Kelly Warawa, a citizen of Canada residing in Vancouver, British Columbia; FFS Capital Limited, of Hong Kong; Paifang Trading Limited, of Hong Kong; Atlantean Management Corporation, of Canada; Meadow Asia Limited, of Hong Kong, and Thyme International Limited, of Hong Kong, at the U. S. District Court for the District of Massachusetts.

N888JK Ltd. v. Equiom (Isle of Man) Ltd.: Complaint

May 28, 2020 - Complaint in N888JK Limited, of the British Virgin Islands v. Equiom (Isle of Man) Limited, of the Isle of Man, as Trustee of ANAP Aircraft Ownership Trust, at the Supreme Court of the State of New York, County of New York.

Lilly Perry et al v. Lopag Trust Reg. et al: Judgment

May 27, 2020 - Judgment in Lea Lilly Perry and Tamar Perry v. Lopag Trust Reg., of Liechtenstein; Private Equity Services (Curaçao) NV, of Curaçao; Fiduciana Verwaltungsanstalt, of Liechtenstein; Gal Greenspoon, Yael Perry, Dan Greenspoon, Ron Greensoon, Ron Greenspoon, Mia Greenspoon, by Hagai Greenspoon, her guardian ad litem, and Admintrust Verwaltungs Anstalt at the Grand Court of the Cayman Islands.

Swan Developments becomes latest member of British fraud group to collapse

April 16, 2020 - Scotland-based Swan Developments Management Limited has become the latest firm to go into liquidation that was operated by, or associated with, the notorious Swan Group of British investment fraudsters.

Banque Pictet & Cie SA v. TCA Global Credit Fund Ltd.: Winding Up Petition

April 01, 2020 - Winding Up Petition in Banque Pictet & Cie SA, of Switzerland, described as a creditor that is owed $11.6 million v. TCA Global Credit Fund Ltd. at the Grand Court of the Cayman Islands.

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.