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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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USA v. Swiss Life: Forfeiture Complaint

June 10, 2021 - Forfeiture Complaint regarding $35 million associated with alleged tax evasion activity by "Swiss Life Holding AG, a Swiss insurance holding company, and three of its subsidiaries, Swiss Life (Liechtenstein) AG, Swiss Life (Singapore) Pte. Ltd., and Swiss Life (Luxembourg) S.A." in USA v. $35 Million at the U. S. District Court for the Southern District of New York.

Zuca Properties LLC: Chapter 11 Petition

June 07, 2021 - Chapter 11 Petition by Zuca Properties LLC, a Delaware company based in Geneva, Switzerland, that "was established to acquire property investments", at the U. S. Bankruptcy Court for the Southern District of New York. The seven largest unsecured creditors, with claims totaling more than $55 million, include those based in Brunei Darussalam, Jersey, in the Channel Islands; Luxembourg, Switzerland, and the United States.

USA v. Swiss Life Holding AG et al: Criminal Information

May 14, 2021 - Criminal Information alleging conspiracy to defraud the United States in USA v. Swiss Life Holding AG, of Switzerland; Swiss Life (Liechtenstein) AG, of Liechtenstein; Swiss Life (Luxembourg) SA, of Luxembourg, and Swiss Life (Singapore) Pte. Ltd., of Singapore, at the U. S. District Court for the Southern District of New York.

USA v. Swiss Life Holding AG et al: Deferred Prosecution Agreement

May 14, 2021 - Deferred Prosecution Agreement, with exhibits that include a Criminal Information, Statement of Facts, and Forfeiture Complaint, in USA v. Swiss Life Holding AG, of Switzerland; Swiss Life (Liechtenstein) AG, of Liechtenstein; Swiss Life (Luxembourg) SA, of Luxembourg, and Swiss Life (Singapore) Pte. Ltd., of Singapore, who agreed to pay $77 million to settle a criminal charge of what the USA described in an accompanying news release as "conspiring with U.S. taxpayers and others to conceal from the Internal Revenue Service more than $1.452 billion in offshore insurance policies, including more than 1,600 insurance wrapper policies, and related policy investment accounts in banks around the world and the income generated in these accounts", filed at the U. S. District Court for the Southern District of New York.

Makhpal Karibzhanova v. Aidan Karibzhanov: Discovery Application

May 12, 2021 - Application by Makhpal Karibzhanova, who "is a citizen of Kazakhstan and is the former wife of a wealthy and politically-connected Kazakh businessman, Aidan Karibzhanov", for an order of judicial assistance "to obtain testimony and documentary evidence to assist in discovery for use in prospective Kazakhstan civil proceedings" involving her former husband, filed at the U. S. District Court for the Southern District of New York.

MarkDutchCo 1 B.V. et al v. Zeta Interactive Corp.: Petition to Compel Arbitration

May 04, 2021 - Petition to Compel Arbitration in MarkDutchCo 1 B.V., of the Netherlands, and Markmidco Sarl, of Luxembourg v. Zeta Interactive Corp. at the U. S. District Court for the District of Delaware.

Cayman judge dismisses petition against Circumference Holdings as 'abuse of process'

May 04, 2021 - A petition by Luxembourg-based accused fraudster Nicholas Martin to wind up the Cayman Islands holding company of the Circumference Group of corporate service providers has been dismissed "on the grounds that it is an abuse of process".

Nicholas Martin v. Circumference Holdings Ltd.: Judgment

May 03, 2021 - Judgment striking out a winding-up petition for being "an abuse of process" in Nicholas James Martin, of Luxembourg v. Circumference Holdings Ltd. at the Grand Court of the Cayman Islands.

Nicholas Martin v. Circumference Holdings Ltd.: Order Striking Out Petition

May 03, 2021 - Order striking out petition "on the grounds that it is an abuse of the process" in Nicholas James Martin, of Luxembourg v. Circumference Holdings Ltd. at the Grand Court of the Cayman Islands.

Tatiana Akhmedova v. Farkhad Akhmedov et al: Judgment

April 21, 2021 - Judgment for hundreds of millions of dollars in favor of a "wife" who "has been the victim of a series of schemes designed to put every penny of the Husband's wealth beyond her reach" involving individuals, companies, and structures in Bermuda, Cyprus, Dubai, England, France, Isle of Man, Liechtenstein, Luxembourg, Panama, Russia, and Switzerland in Tatiana Akhmedova v. Farkhad Teimur Ogly Akhmedov, a citizen of Russia; Woodblade Limited, of Cyprus; Cotor Investment SA, of Panama; Qubo 1 Establishment, of Liechtenstein; Qubo 2 Establishment, of Liechtenstein; Straight Establishment, of Liechtenstein; Avenger Assets Corporation, of Panama; Counselor Trust Reg, of Liechtenstein, as Trustee of certain Trusts; Sobaldo Establishment, of Liechtenstein, as Trustee of certain Trusts; Temur Akhmedov, described as "a British citizen who lives in London", and Borderedge Limited, of Cyprus, at the High Court of Justice, for England and Wales.

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.