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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.

'Virtual casino' firm Crypto Meca has registration revoked in Isle of Man

March 24, 2020 - The Isle of Man Financial Services Authority has revoked the registration of South Korea-based Crypto Meca Ltd., which solicited investors' funds last year purportedly to finance the development of a virtual casino platform that has not been launched.

Crypto Meca Ltd.: Registration Revocation

March 19, 2020 - Announced by the Isle of Man Financial Services Authority that the registration of Crypto Meca Limited was revoked for "failure to pay the annual fee".

Highlights Holdings Ltd. v. SMP Partners Ltd. et al: Judgment

March 12, 2020 - Judgment in Highlights Holdings Limited v. SMP Partners Limited, Rivercroft Limited, and Cedargrove Limited at the Isle of Man High Court.

Wilton Trustees (IoM) Ltd. et al v. AFS Trustee Ltd. et al: Judgment

February 24, 2020 - Judgment regarding an application for summary judgment in Wilton Trustees (IoM) Limited and Fiduciana Verwaltungsanstalt, as Trustees of the Erica Settlement v. AFS Trustee Ltd. at the British Virgin Islands High Court.

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.

Axiom Legal Financing Fund: Receivers' Seventh Report

January 15, 2020 - Seventh Report of the Receivers of Axiom Legal Financing Fund, of the Cayman Islands.

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.

Margaret Riley v. BVI Registrar of Corporate Affairs: Restoration Application

December 04, 2019 - Fixed Date Claim Form regarding Naussal Holdings Inc. in Margaret Alison Riley, of the Isle of Man v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

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.

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.