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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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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.

SEC v. Carlos Ghosn: Final Judgment

September 23, 2019 - Final Judgment imposing a $1 million fine in U. S. Securities and Exchange Commission v. Carlos Ghosn, a citizen of Brazil, France, and Lebanon, at the U. S. District Court for the Southern District of New York.

SEC v. Carlos Ghosn et al: Complaint

September 23, 2019 - Complaint alleging securities fraud regarding Japanese automobile manufacturer Nissan Motor Co. Ltd. in U. S. Securities and Exchange Commission v. Carlos Ghosn, a citizen of Brazil, France, and Lebanon, and Gregory L. Kelly, a resident of Brentwood, Tennessee, at the U. S. District Court for the Southern District of New York.
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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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US tycoon Bob Brockman indicted for '$2B offshore tax fraud scheme'
US software tycoon Bob Brockman has been criminally indicted in California for an alleged $2 billion offshore tax evasion scheme involving accounts and entities in Bermuda, British Virgin Islands, Cayman Islands, Nevis, and Switzerland. In a related case, billionaire private equity boss Robert Smith agreed to pay penalties of $139 million to avoid prosecution.
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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.