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Neoma Manager (Mauritius) Ltd. v. Neoma Global Growth Markets Fund (B) LP et al: Writ of Summons

January 05, 2021 - Writ of Summons in Neoma Manager (Mauritius) Limited, as the Manager of Neoma Private Equity Fund IV LP v. Neoma Global Growth Markets Fund (B) LP, Bicorp S.A.L., of Lebanon; Crown Global Secondaries III Plc, of Ireland; Falcon Flight LLC, of New York, NY; Raghida Ghandour, of Dubai, and The Public Institution for Social Security, of Kuwait, at the Grand Court of the Cayman Islands.

Patricia Raad et al v. Bank Audi SAL: Removal

December 31, 2020 - Notice of Removal, including a copy of the complaint alleging Bank Audi "refuses to honor its obligation to pay" $17.6 million, in Patricia Raad, Stephanie Raad, and David Raad v. Bank Audi S.A.L., of Beirut, Lebanon, at the U. S. District Court for the Southern District of New York.

Pierre Fattouch et al v. The Republic of Lebanon et al: Complaint

September 15, 2020 - Complaint to recognize judgments totaling $556 million in Pierre Fattouch, Moussa Fattouch, and United Lebanese Quarries and Crushers Company S.A.L., all of the Lebanon v. The Republic of Lebanon and Marie-Claud Najim, as Minister of Justice, at the U. S. District Court for the District of Columbia.

InvestBank PSC v. Citibank et al: Discovery Application

July 24, 2020 - Application by InvestBank PSC to take discovery from Citibank N.A., Deutsche Bank Trust Co. Americas, Standard Chartered Bank,  The Bank of New York Mellon, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Wells Fargo Bank, N.A., Bank of America, N.A., HSBC Bank USA, N.A., Société Générale, BNP Paribas USA, The Bank of Nova Scotia, UBS AG, Commerzbank AG, Bank of China, New York Branch, and The Clearing House Payments Company LLC for use in "contemplated proceedings" in Dubai "against Greenline Interiors FZCO, Greenline Yacht Interiors FZCO, Samir Michael Badro, Nabila Iskandar Samir Abboud Badro, Lea Samir Badro Hamadeh, Roy Samir Badro, and Fay Badro Zakhem" involving, inter alia, companies in Bahrain, British Virgin Islands, Dubai, Germany, Lebanon, Qatar, Saudi Arabia, Syria, United Kingdom, and the USA, filed at the U. S. District Court for the Southern District of New York.

Joseph Daou et al v. Banque du Liban et al: Complaint

June 10, 2020 - Complaint alleging a "Ponzi scheme that is the Lebanese banking system" in Joseph A. Daou and Karen M. Daou, both of Clearwater Beach, Florida v. BLC Bank SAL, Credit Libanais SAL, Al-Mawarid Bank SAL, and Banque du Liban, all of the Lebanon, at the U. S. District Court for the Southern District of New York.

Khaleb Debs v. Strong Media Group Ltd. et al: Claim Form

May 25, 2020 - Claim Form seeking at least €503,791 in Khaleb Debs, of Beirut, Lebanon v. Strong Media Group Limited and Strong International Limited at the British Virgin Islands High Court.

Benjamin Steinmetz v. Vale SA et al: Discovery Application

May 21, 2020 - Application by Benjamin Steinmetz, of Israel, described as an "adviser" to BSG Resources Limited, "a Guernsey-based international mining and natural resources company", to take discovery from Vale SA, described as a Brazil company that is "one of the largest mining companies in the world"; Vale Americas Inc., Rio Tinto Plc, and Rio Tinto Limited for use in legal proceedings in the United Kingdom involving Vale S.A., of Brazil; Vale Holdings B.V., of the Netherlands, and Vale International S.A., of Switzerland, filed at the U. S. District Court for the Southern District of New York.

Jamal Hammoud v. Société Générale de Banque au Liban: Notice of Removal

January 06, 2020 - Notice of Removal, including a copy of the complaint seeking damages of $457,224 alleging failure to execute wire transfer requests in Jamal Hammoud, described as "the majority owner and principal of Milestones Capital, LLC" v. Société Générale de Banque au Liban, of Lebanon, at the U. S. District Court for the Southern District of New York.

SEC v. Benjamin Taylor et al: Complaint

October 22, 2019 - Complaint regarding allegations that "investment bankers in London, England ... participated in an international insider trading scheme that netted its participants tens of millions of dollars in illicit profits from trading in the securities of U.S. companies" in U. S. Securities and Exchange Commission v. Benjamin Taylor, a resident of France; Darina Windsor, a citizen of Thailand, and Joseph Abdul Noor El-Khouri, described as a citizen of Lebanon residing in Monaco and England, at the U. S. District Court for the Southern District of New York.

'Mahmoud El Chahal abused our trust in funding scam,' writes 'victim'

October 17, 2019 - Letter to OffshoreAlert from Abdelrahim Mahamat Badaoui, of Sociétè Complexe Industriel Rahma, complaining and warning about Lebanese national Mahmoud El Chahal, of Qatar Finance House, an advance fee fraudster whom we have previously exposed.

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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UAE 'gold supplier' SION Trading sued for '$5M fraud'
UAE-domiciled purported gold supplier SION Trading FZE, which has been implicated in several fraudulent schemes, including a cryptocurrency scam involving Bermuda-based Arbitrade, is being sued in Utah along with individuals and companies in or from Barbados, Canada, England, Panama, St. Lucia, and the USA for allegedly perpetrating a $5 million 'advance fee' scam.
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.