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Arab nations claim 'hundreds of millions of dollars are missing' from Cayman Islands fund

December 30, 2019 - In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".

Gulf Investment Corp. v. Bank of America et al: Discovery Application

December 26, 2019 - Application by Gulf Investment Corporation, of Kuwait, described as "a supranational financial institution owned equally by the six Gulf Cooperation Council states: The Kingdom of Bahrain; The State of Kuwait; The Sultanate of Oman; The State of Qatar; The Kingdom of Saudi Arabia; and The United Arab Emirates", to take discovery from Bank of America, NA, The Bank of New York Mellon, Citibank, NA, Deutsche Bank AG, New York Branch; Deutsche Bank Trust Company USA, Goldman Sachs and Co., HSBC Bank USA, NA, JPMorgan Chase Bank, NA, Mashreqbank PSC, New York Branch; National Australia Bank Limited, New York Branch; Standard Chartered Bank, New York Branch; and Wells Fargo Bank NA for use in "contemplated litigation in the Cayman Islands" regarding "hundreds of millions of dollars that have gone missing", filed at the U. S. District Court for the Southern District of New York.

Future Media Architects, Inc. v. Akin Gump Strauss Hauer & Feld LLC: Complaint

December 19, 2019 - Complaint in Future Media Architects, Inc., of the British Virgin Islands v. Akin Gump Strauss Hauer & Feld LLC at the Supreme Court of the State of New York, County of New York.

Hamad Abdel Aziz Al Shaya et al v. National Bank of Kuwait et al: Discovery Application

December 18, 2019 - Application by Hamad Abdel Aziz Al Shaya and Haitham Hamad Abdulaziz Al Shaya to take discovery from the National Bank of Kuwait SAKP, New York Branch; Standard Chartered Bank, and JPMorgan Chase & Co. for use in legal proceedings in Kuwait and Qatar regarding an alleged fraud by Anas Taiss Al Jumaily involving "loans from the International Bank of Qatar, Qatar Commercial Bank, and Al Khaliji Commercial Bank", filed at the U. S. District Court for the Southern District of New York.

Gulf Investment Corporation v. The Port Fund LP et al: Originating Summons

November 26, 2019 - Originating Summons in Gulf Investment Corporation, of Kuwait v. The Port Fund LP and Port Link (GP) Limited at the Grand Court of the Cayman Islands.

USA v. Imaad Shah Zuberi: Plea Agreement

October 22, 2019 - Plea Agreement in USA v. Imaad Shah Zuberi at the U. S. District Court for the Central District of California.

USA v. Imaad Shah Zuberi: Criminal Information

October 22, 2019 - Criminal Information alleging Violations of the Foreign Agents Registration Act, Tax Evasion, and Foreign, Conduit, and Other Illegal Campaign Contributions in USA v. Imaad Shah Zuberi at the U. S. District Court for the Central District of California.

Doosan Heavy Industries and Construction Co., Ltd. v. Liberty Maritime Corp.: Discovery Application

June 25, 2019 - Application by Doosan Heavy Industries and Construction Co., Ltd., of South Korea, to take discovery from Liberty Maritime Corporation for use in legal proceedings in Egypt involving Damietta International Port Company S.A.E., of Egypt, and Kuwait Gulf Link Ports International, a.k.a. KGL International For Ports, Warehousing and Transport K.S.C.C., of Kuwait, at the U. S. District Court for the Eastern District of New York.

Kuwait Public Institution for Social Security v. Asia Private Credit Fund Ltd.: Petition

December 18, 2018 - Petition in Public Institution for Social Security for the State of Kuwait v. Asia Private Credit Fund Limited at the Grand Court of the Cayman Islands.

HiTs Africa Ltd.: Chapter 15 Petition

November 27, 2018 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Claire Loebell and Keiran Hutchison, as the Foreign Representatives of HiTs Africa Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.
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Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
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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.