OffshoreAlert
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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ETR AG: Unlicensed Activity

July 07, 2020 - Public Notice by the Liechtenstein Financial Market Authority regarding unlicensed activity by ETR AG, described as "the operator of the website https://blocktrade.com". Editor's Note: Research by OffshoreAlert showed that, in the Liechtenstein Commercial Register, the members of ETR AG are Audina Treuhand Aktiengesellschaft, Christoph Gassner, Armin Reiter, Lukas Gubo, and Klaus Dieter Stark. Gubo is identified as the company's "Manager" and Anja Monika Frauwallner  as an "Authorized Officer". On ETR AG's website, it is stated that "Blocktrade is developing and operating an institutional-grade digital assets exchange that focuses on cutting-edge technologies, highest security standards, and excellent user experiences."

Creditors apply to wind up Cayman parent of Liechtenstein's Gable Insurance

June 17, 2020 - Creditors in the BVI, England, and Guernsey have applied to wind up the Cayman Islands parent company of insolvent Liechtenstein insurer Gable Insurance AG.

Liechtenstein: Royal Business Bank

June 08, 2020 - Application for the appointment of a Commissioner to collect evidence from Royal Business Bank - pursuant to a request for judicial assistance from Liechtenstein - for a criminal investigation into "unknown subjects" for a suspected fraud based around "a Bitcoin investment opportunity".

ADCADA Investments AG PCC: Bond Ban

June 03, 2020 - Announcement by the Liechtenstein Financial Market Authority that it has banned a bond issued by ADCADA Investments AG PCC.

ADCADA Immobilien AG PCC: Bond Ban

June 03, 2020 - Announcement by the Liechtenstein Financial Market Authority that it has banned a bond issued by ADCADA Immobilien AG PCC.

USA v. Funds Held by RAKIA: Forfeiture Complaint

June 03, 2020 - Forfeiture Complaint regarding "an international conspiracy to launder funds traceable to violations of the International Emergency Economic Powers Act ... and a scheme to defraud financial institutions in the Republic of Korea" in USA v. AED 73 million in the custody of Ras Al Khaimah Investment Authority and "All Claims Filed And Asserted" by VI2 Partners GmbH, of Austria, against Ras Al Khaimah Investment Authority Georgia LLC in the Republic of Georgia at the U. S. District Court for the District of Alaska.

Lilly Perry et al v. Lopag Trust Reg. et al: Judgment

May 27, 2020 - Judgment in Lea Lilly Perry and Tamar Perry v. Lopag Trust Reg., of Liechtenstein; Private Equity Services (Curaçao) NV, of Curaçao; Fiduciana Verwaltungsanstalt, of Liechtenstein; Gal Greenspoon, Yael Perry, Dan Greenspoon, Ron Greensoon, Ron Greenspoon, Mia Greenspoon, by Hagai Greenspoon, her guardian ad litem, and Admintrust Verwaltungs Anstalt at the Grand Court of the Cayman Islands.

ADCADA Investments AG PCC: Investor Warning

May 22, 2020 - Investor Warning by the Austrian Financial Market Authority that ADCADA Investments AG PCC, of Liechtenstein, "is failing to comply with its obligations". Editor's Note: Research by OffshoreAlert showed that, in the Liechtenstein Commercial Register, the directors of ADCADA Investments AG PCC are identified as Lukas Jakob Wössner, Florian Scheiber, who is also President, and Benjamin Franklin Kühn, Chairman. On its website at https://adcada.healthcare/, ADCADA group claims to have "set up a production facility for mouth-nose protection mask" in Germany, where "12 million respiratory masks and other protective equipment are manufactured here every month".

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.

Caja Paraguaya de Jubilaciones y Pensiones del Personal de Itaipu Binacional v. Stephanie Segarra: Discovery Application

May 18, 2020 - Application by Caja Paraguaya de Jubilaciones y Pensiones del Personal de Itaipu Binacional, of Paraguay, to take discovery from Stephanie Segarra for use in legal proceedings in Ontario, Canada, regarding an alleged "fraudulent scheme perpetrated by Antonio Duscio", filed at the U. S. District Court for the Northern District of Georgia.

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.