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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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Hine & Ogulluk LLP v. Gholam Golsorkhi et al: Summons With Notice

December 15, 2020 - Summons With Notice regarding alleged unpaid legal fees in Hine & Ogulluk LLP, a law firm based in New York, NY v. Gholam Reza Golsorkhi, of New York, NY, and Pelmadulla Stiftung Vaduz, "c/o Dr. Guido Meier", of Liechtenstein, at the Supreme Court of the State of New York, County of New York.

Tatiana Akhmedova v. Google LLC: Discovery Application

September 16, 2020 - Application by Tatiana Akhmedova to take discovery from Google LLC for use in legal proceedings in England involving, inter alia, her husband, Farkhad Akhmedov, a Russian businessman; their son, Temur Akhmedov, and "Liechtenstein trustee entities Counselor Trust Reg and Sobaldo Establishment" regarding judgment collection and alleged "fraudulent evasion", filed at the U. S. District Court for the Northern District of California.

Pioneer Recovery Fund LP et al v. Amanda Wilson et al: Discovery Application

August 21, 2020 - Application by Pioneer Recovery Fund LP and Champlain Investment Holdings Ltd., both of the Cayman Islands, to take discovery from Amanda Wilson, Pedro Santiago, Astrid Pillay, and Charles Holzer regarding "a series of purported frauds perpetrated by the late Mr. Lance Valdez and subsequent directors and officers of the Fund [Pioneer Recovery Fund], who used the Fund as the instrument of a fraud perpetrated against the Fund's founder, Vermeer Investments Limited" for use in legal proceedings in the Bahamas against Subacu Investment Partners LP, of the Bahamas; Beecham Ltd., of the Bahamas; Crescent Advisers Ltd., of the Cayman Islands; Pioneer Investment Management Ltd., of the Bahamas; Universal Corporate Limited, of Ireland; Jason Sweeney, Dasha Valdez, nee Dasha Pastoukhova, a resident of the Bahamas; London Capital Holdings Ltd., of the British Virgin Islands; PCH Ltd., of the Bahamas; Subacu Holdings Ltd., of the British Virgin Islands; Guam Investment Services, of the British Virgin Islands; 10 East 63rd Street Inc., of New York, and Amanda Wilson, of New York, filed at the U. S. District Court for the Southern District of New York.

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 British Virgin Islands, 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.

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.
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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.