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Helios Ventures FZE v. VistaJet US Inc. et al: Discovery Application

May 05, 2021 - Application by Helios Ventures FZE, of Ajman, in the United Arab Emirates, to take discovery from VistaJet US Inc., Rhône Capital LLC, and Rhône Group LLC for use in "contemplated civil proceedings in the United Kingdom and Malta", filed at the U. S. District Court for the Southern District of New York.

Em@ney Plc: €359K Fine

April 29, 2021 - Public Notice by the Malta Financial Intelligence Analysis Unit imposing a fine of €359,339 on Em@ney Plc, described as a "financial institution", for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Em@ney Plc was incorporated in Malta on June 14th, 2012, its directors are Germano Arno, a citizen of Italy, and Konstantin Balassopulos, a citizen of Austria, former directors include Nicola Mattocks, who resigned effective October 22nd, 2020, and its shareholders are Malta-domiciled Absolute Holding Limited, whose sole director is Francesco Malandrino, a citizen of Italy, and whose shareholder is Trident Trust Company (Malta) Limited, and Malta-domiciled Tyke Holding Limited, whose sole director is Germano Arno and whose shareholder is Trident Trust Company (Malta) Limited.

Tumas Gaming Ltd.: €233K Fine

April 27, 2021 - Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €233,156 on Tumas Gaming Limited, described as a "Land Based Casino", for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Tumas Gaming Limited was incorporated in Malta on March 24th, 1998, its directors are Emmanuel Fenech, Raymond Fenech, and Ray Sladden, all of Malta, its former directors include Yorgen Fenech, who resigned effective November 12th, 2019, and its shareholders are Tumas Group Company Limited and Tumas Group Management Company Limited, both of Malta. Tumas Group Company Limited's directors are Emmanuel Fenech, Franco Fenech, and Raymond Fenech and its shareholders are Yorgen Fenech, TGI Limited, of Malta; Anna Fenech, Carmen Fenech, Franco Fenech, Josephine Fenech, Moira Fenech, Patricia Fenech, and Raymond Fenech, and Tumas Group Management Company Limited's directors are Emmanuel Fenech and Raymond Fenech and its shareholders are Spinola Investments Ltd. and Tumas Group Company Limited, both of Malta.

Zenith Finance Ltd.: Administration

April 26, 2021 - Public Notice by the Malta Financial Services Authority that an administrator has been appointed for Zenith Finance Limited. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Zenith Finance Limited, formerly known as MFSP Financial Management Limited, was incorporated in Malta on November 2nd, 2007, its directors are Lorraine Falzon and William Charles Van Buren, both citizens of Malta; its former directors include Matthew Pace, a citizen of Malta, who resigned effective March 8th, 2021, and André Micallef, who resigned effective August 24th, 2017, its shareholders are Matthew Pace and Lorraine Falzon, and its auditor, Nexia BT, resigned effective November 16th, 2020.

Money + Card Payment Institution Ltd.: €404K Fine

April 20, 2021 - Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €403,947 on Money + Card Payment Institution Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Money + Card Payment Institution Limited was incorporated in Malta on July 27th, 2015, went into liquidation on June 13th, 2019, has no current directors, its former directors include Zoltan Bota, who resigned effective May 11th, 2019; Terry Galea, of Malta, who resigned effective May 14th, 2019; Franco Falzan, of Malta, who resigned effective May 9th, 2019, and Dmitrij Kozelkin, of Hungary, who resigned effective August 9th, 2018, and its shareholders are Viktor Hujber, a citizen and resident of Hungary, and Prifolio Holding Limited, which was incorporated in Malta on September 16th, 2010, whose sole director is Otto Hujber, and whose shareholders are Otto Hujber and Viktor Hujber,

Pelagos Shipping Company Ltd. v. PB Finance LLC: Complaint

April 16, 2021 - Complaint alleging fraud in Pelagos Shipping Company Ltd., of Malta v. PB Finance LLC, described as a Marshall Islands company based in Stamford, Connecticut, at the U. S. District Court for the Southern District of New York.

MC Trustees (Malta) Ltd.: €160K Fine

April 16, 2021 - Public Notice by the Malta Financial Services Authority that it has imposed a fine of €160,000 on MC Trustees (Malta) Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that MC Trustees (Malta) Limited was incorporated in Malta on December 11th, 2009, its directors are Noel Buttigieg Scicluna, of Malta; William Daniel Dane, a citizen of the United Kingdom residing in Portugal, and Edward Thorpe, a citizen of the United Kingdom residing in Malta; its former directors include Martin Cadman, a citizen of the United Kingdom who resigned effective December 24th, 2019, and its shareholders are Christine Rhoda Grace Dane, a citizen of the United Kingdom residing in Portugal; William Dane, and MC Holdings (Malta) Limited, a Maltese company incorporated on March 14th, 2011 whose sole director is Martin Cadman and whose shareholders are Martin Cadman and Basi & Basi Financial Planning Limited, a British firm whose sole director is Michael Sudagar Basi, a citizen of the United Kingdom, and whose "persons with significant control" are Basi and Brite Advisory Group Limited, of Hong Kong.

Meridian Gaming Ltd.: €89K Fine

April 13, 2021 - Public Notice by Malta's Financial Intelligence Analysis Unit that it has imposed a fine of €88,937 fine on Meridian Gaming Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Meridian Gaming Limited was incorporated in Malta on May 9th, 2007, its sole director is Zoran Milosevic, of Serbia, previous directors include Anthony Axisa, who resigned effective September 15th, 2020, and Andjelina Rajacic, who resigned effective March 13th, 2019, and its shareholders are Aleksandr Milovanovic, of Serbia, and Meridian Gaming Holdings Ltd., the latter of which was incorporated in Malta on May 16th, 2016 and whose directors are Zoran Milosevic and Snezana Bozovic, of Serbia, and shareholders are Meridian Tech d.o.o., of Serbia; Zoran Milosevic, Snezana Bozovic, and Aleksandr Milovanovic.

Bank Leumi USA v. Trade Finance Trust et al: Complaint

April 05, 2021 - Complaint for Interpleader regarding "the remainder of what was at one time several dozen accounts at the Bank opened by an affiliate of International Investment Group, LLC, a now defunct investment advisor accused by the Securities and Exchange Committee of perpetrating a fraud akin to a Ponzi scheme" in Bank Leumi USA v. Trade Finance Trust, described as "a Delaware Statutory Trust"; IIG Trade Finance LLC, of New York, as Administrator of Trade Finance Trust; IIG Bank (Malta) Ltd., of Malta; Girobank International N.V., of Curaçao; Girobank N.V., of Curaçao; Valerie P. Maria, of Curaçao, as the Foreign Representative of IIG Trade Opportunities Fund Ltd.; Christopher Kennedy and Alexander Lawson, both of the Cayman Islands, as Joint Liquidators of IIG Global Trade Finance Fund Ltd. and IIG Structured Trade Finance Fund Ltd.; TriLinc Global Impact Fund LLC, of Delaware, and TriLinc Global Impact Fund - Trade Finance Ltd., of the Cayman Islands, at the U. S. District Court for the Southern District of New York.

Zenith Finance Ltd. et al: Public Notice

March 26, 2021 - Public Notice by the Malta Financial Services Authority that it has taken action against Zenith Finance Limited and Zenith (Tied Insurance Intermediary) Limited.

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.