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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.

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USA v. Leonardo Santilli: Criminal Complaint

March 20, 2020 - Criminal Complaint alleging money laundering regarding the alleged proceeds of bribery and corruption involving Petróleos de Venezuela, SA, a.k.a. PDVSA, described as "Venezuela's state-owned and state-controlled oil company", in USA v. Leonardo Santilli, described as "a Venezuelan and Italian citizen", at the U. S. District Court for the Southern District of Florida.

Juan María Rendón et al v. Abbott Laboratories Inc.: Discovery Application

March 16, 2020 - Application by Juan María Rendón, a citizen of Italy residing in Portugal, and Roberto Maurice Ventura Crispino, a citizen of Italy residing in Panama, to take discovery from Abbott Laboratories Inc. for use in legal proceedings in Colombia and Switzerland involving "a group of sellers who entered into a stock purchase agreement with CFR International SpA, as purchaser, and CFR Pharmaceuticals S.A., as warrantor, for purposes of transferring control over one of the largest pharmaceutical groups in Colombia, named Lafrancol", filed at the U. S. District Court for the Southern District of Florida.

Lorenzo Mariani v. Citibank: Discovery Application

March 12, 2020 - Application by Lorenzo Mariani to take discovery from Citibank NA for use in divorce proceedings in Italy, filed at the U. S. District Court for the Southern District of New York.

Motu Novu LLC v. Golden Gate Capital, LLC et al: Discovery Application

January 29, 2020 - Application by Motu Novu LLC, of Delaware, to take discovery from Golden Gate Capital, LLC, Stephen Oetgen, Michael Dierks, Sue Breedlove, Mark Percival, and Alaina Percival for use in legal proceedings in England regarding "Motu Novu's ability to collect on a €3,226,900 judgment it holds against John Kenneth Percival", filed at the U. S. District Court for the Northern District of California.

EXPOSED: Symtomax Group's fraudulent €12M Bond Offering

January 22, 2020 - A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.

Motu Novu LLC v. Joye Percival et al: Discovery Application

January 17, 2020 - Ex Parte Application for Judicial Assistance by Motu Novu LLC, of Delaware, to take discovery from Joye Percival, described as the "ex-wife of John K. Percival", Synovus Financial Corporation, of Atlanta, GA, and Elizabeth Mabry, of Fayetteville, GA, for use in legal proceedings in England regarding "Motu Novu's ability to collect on a €3,266,900 judgment it holds against John Kenneth Percival" who allegedly "has gone to great lengths to avoid paying", filed at the U. S. District Court for the Northern District of Georgia.

Caterpillar Inc. v. Deere & Company et al: Discovery Application

October 31, 2019 - Application by Caterpillar Inc. to take discovery from Deere & Company and Wirtgen America, Inc. for use in legal proceedings in Italy between Wirtgen GmbH and Caterpillar's European subsidiaries, Caterpillar Prodotti Stradali Srs and Caterpillar Financial Corporacion Financiera SA EFC, and "threatened" litigation in Germany, filed at the U. S. District Court for the Middle District of Tennessee.

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.

iFinex Inc. v. Citibank: Discovery Application

October 18, 2019 - Application by iFinex Inc., a British Virgin Islands-domiciled, Hong Kong-based company that operates the Bitfinex cryptocurrency exchange from Citibank NA for use in legal proceedings in Poland, Portugal, and the United Kingdom regarding an attempt to recover $880 million, filed at the U. S. District Court for the Central District of California.

iFinex Inc. v. Rondell Monroe: Discovery Application

October 18, 2019 - Application by iFinex Inc., a British Virgin Islands-domiciled, Hong Kong-based company that operates the Bitfinex cryptocurrency exchange from Rondell Clyde Monroe, a resident of Las Vegas, Nevada, for use in legal proceedings in Poland, Portugal, and the United Kingdom regarding an attempt to recover $880 million, filed 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 ISLANDS  
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.