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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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London law firm Preiskel & Co. sues Binance and other crypto firms

June 23, 2021 - London-based law firm Preiskel & Co. has sued cryptocurrency firms domiciled in the Cayman Islands, Estonia, Lithuania, Seychelles, Switzerland, and United Kingdom, including cryptocurrency exchange Binance.

Wilhelmus Johannes van Opzeeland et al v. Cannafornia Holdings Inc. et al: Complaint

May 28, 2021 - Complaint alleging a cannabis-based investment fraud in Wilhelmus Johannes van Opzeeland, a citizen of the Netherlands residing in Singapore; Qi Guan, a citizen of China residing in England, and Mindaugas Montvilas, a citizen and resident of Lithuania v. Cannafornia Holdings Inc. and Paul King at the U. S. District Court for the Northern District of California.

Lithuania: ESmotorsport

April 26, 2021 - Application for the appointment of a Commissioner to collect evidence from IAA, Inc., described as an "online auction business" - pursuant to a request for judicial assistance from Lithuania - for a criminal investigation into ESmotorsport, of Lithuania, for suspected fraud and tax evasion.

Richard Fagan's British polo fraudsters set up fake 'Swiss bank' & attempt Cayman fund take-over

February 18, 2021 - Middle East-based British polo players led by Richard Fagan who fund their lavish lifestyles through investment fraud have set up a fake 'Swiss bank' and are trying to take over a Cayman Islands fund, OffshoreAlert can reveal.

Lithuania: Darius Vitkus

November 19, 2020 - Complaint to extradite Darius Vitkus, described as "the sole owner and shareholder Gvidonas UAB", from the USA to Lithuania to face charges of fraud, forgery, misappropriation, tax evasion, and theft.

UAB E energija v. The Republic of Latvia: Petition to Confirm Arbitration Award

August 31, 2020 - Petition to Confirm Arbitration Award and Enter Judgment in UAB E energija, of Lithuania v. The Republic of Latvia at the U. S. District Court for the District of Columbia.

Lithuania: One Discord

May 27, 2020 - Application for the appointment of a Commissioner to collect evidence from One Discord - pursuant to a request for judicial assistance from Lithuania - for a criminal investigation into "a Lithuanian police officer for unauthorized disclosure or use of information about a person's private life and abuse of office offenses".

Dreymoor Fertilizers Overseas Pte Ltd. v. HSBC et al: Discovery Application

April 14, 2020 - Application by Dreymoor Fertilizers Overseas Pte Ltd. to take discovery from HSBC Bank USA, Bank of New York Mellon, JPMorgan Chase Bank, Citibank, Deutsche Bank Trust Company Americas and its affiliates Deutsche Bank and Bankers Trust Company; Israel Discount Bank of New York, Wells Fargo Bank, Commerzbank AG, and Bank of America for use in legal proceedings in Lithuania, filed at the U. S. District Court for the Southern District of New York.

Fund for Protection of Investor Rights in Foreign States v. AlixPartners LLP et al: Discovery Application

August 29, 2019 - Application by the Fund for Protection of Investor Rights in Foreign States, of Russia, as "assignee of claims brought by Mr. Vladimir Antonov", to take discovery from AlixPartners LLP and its CEO, Simon Freakley, "in connection with Mr. Freakley’s appointment as temporary receiver and investigation of Bankas Snoras AG", of Lithuania, for use in "a pending arbitration pursuant to the Lithuania-Russia Bilateral Investment Treaty of 2004", filed at the U. S. District Court for the Southern District of New York.

Mundo Media Ltd. et al: Chapter 15 Petition

June 18, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by Ernst & Young, as the Foreign Representative of Mundo Media Ltd., 2538853 Ontario Ltd., M Zone Marketing Inc., and AppThis Holdings, Inc., at the U. S. Bankruptcy Court for the District of Delaware.

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.