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Fraud charges filed over Cayman firm's $30M ICO

January 17, 2020 - Criminal and regulatory charges alleging fraud have been brought in New Jersey against Canadian Boaz Manor and Israeli attorney Edith Pardo regarding a $30 million Initial Coin Offering by BCT Inc. SEZC, of the Cayman Islands.

Mark McDonald et al v. Michael Gubbay: Originating Application

December 23, 2019 - Originating Application in Mark McDonald and Matthew Richardson, both of Grant Thornton, as Liquidators of Tuscola Group Limited (in Liquidation) v. Michael Gubbay, evidently a resident of Israel, at the British Virgin Islands High Court.

Fraud alleged in €79M 'security token' dispute between Cayman firms

October 22, 2019 - Cayman Islands financial advisory Outcrop Capital, which is owned by a former resident of Russia now living in Israel, claims to have been swindled out of bonds with a nominal value of €79.8 million in a "security token" deal with Russian-controlled, Cayman firm Versatile Chain.

'Financial crime consultant' Kenneth Rijock defamed Israeli attorney Steven Slom, rules Miami judge

October 22, 2019 - Miami-based self-described "financial crime consultant" Kenneth Rijock "falsely" accused Israeli attorney Steven Slom of involvement in serious financial crime, a Florida judge has determined.

BVI operator of Bitfinex crypto exchange seeks discovery in 'hunt for missing $880M of client funds'

October 20, 2019 - The BVI operator of Bitfinex cryptocurrency exchange, which was sued 12 days earlier for allegedly perpetrating a multi-billion dollar fraud, has applied to take discovery in California for a purported attempt to recover $880 million of client funds that its Swiss payments processor has allegedly failed to remit.

Steven Slom v. Kenneth Rijock: Partial Summary Judgment Order

October 17, 2019 - Order Granting Plaintiff's Motion for Partial Summary Judgment for defamation regarding "false and defamatory statements" about participation in serious financial crime in Steven Slom, an Israeli attorney v. Kenneth Rijock, a self-described "financial crime consultant", at the Circuit Court of the Eleventh Judicial Circuit, in and for Miami-Dade County, Florida.

Outcrop Capital Ltd. v. Versatile Chain Ltd.: Writ of Summons

October 15, 2019 - Writ of Summons regarding "certain cryptographic tokens which were to be issued on a private blockchain platform known as the 'Vostok Platform'" in Outcrop Capital Ltd., founded by Dmitry Kaganovich, who is apparently a resident Israel v. Versatile Chain Ltd., formerly known as Vostok Ltd., at the Grand Court of the Cayman Islands.

SEC v. Anton Senderov et al: Complaint

October 09, 2019 - Complaint alleging binary options fraud in U. S. Securities and Exchange Commission v. Anton Senderov and Lior Babazara, a.k.a. Lior Bar, both of Israel, at the U. S. District Court for the Eastern District of Washington.

Funds from $100M 'binary options' fraud laundered via BVI firms, says US regulator

September 26, 2019 - An Israeli father-and-son and a resident of Germany swindled tens of thousands of investors out of more than $100M in a 'binary options' fraud, laundering much of the proceeds through two BVI firms, the US SEC has alleged in a complaint at federal court in Los Angeles.

SEC v. Kai Petersen et al: Complaint

September 26, 2019 - Complaint alleging a $100 million-plus 'binary options' fraud in U. S. Securities and Exchange Commission v. Kai Christian Petersen, a resident of Germany; Gil Beserglik, a citizen of Israel, and Raz Beserglik, a citizen of Israel, as Defendants, and Shraga Holdings Ltd. and Lembex Global Investments Ltd., both of the British Virgin Islands, as Relief Defendants, at the U. S. District Court for the Central District of California.

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.