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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. KBR Diensten: Forfeiture Complaint

March 26, 2020 - Complaint to seize funds at de Volksbank, in the Netherlands, in an account in the name of KBR Diensten, whose beneficiary is identified as Naim Ali Oglou, that are allegedly the proceeds of a $3.8 million "Business Email Compromise" fraud against a real estate management company in Atlanta, Georgia, in USA v. Funds at de Volksbank at the U. S. District Court for the Northern District of Georgia.

Newbrook Shipping Corporation et al v. Global Marketing Systems Inc. et al: Discovery Application

March 24, 2020 - Application by Newbrook Shipping Corporation, of the Netherlands, and Falcon Confidence Shipping Ltd., of Liberia, to take discovery from Global Marketing Systems Inc. and Anil F. Sharma, both of Maryland, for use in legal proceedings in Nevis and South Africa, filed at the U. S. District Court for the Northern District of Maryland.

Kazakhstan v. King & Spalding LLP: Discovery Application

March 19, 2020 - Application by the Republic of Kazakhstan to take discovery from King & Spalding LLP for use in criminal proceedings in Kazakhstan regarding suspected fraud, tax evasion, and money laundering involving Anatolie Stati and Gabriel Stati and "their group of affiliated companies which they have owned or controlled", including Ascom Group SA, of Moldova; Terra Raf Trans Traiding Ltd., of Gibraltar, and Hayden Intervest Limited, of the British Virgin Islands, filed at the U. S. District Court for the Southern District of New York.

IIG Trade Opportunities Fund NV: Chapter 15 Petition

March 02, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Curaçao by Valerie P. Maria, as the Foreign Representative of IIG Trade Opportunities Fund NV, at the U. S. Bankruptcy Court for the Southern District of New York.

Coöperatieve Rabobank UA et al v. The Clearing House Payments Company LLC et al: Discovery Application

February 14, 2020 - Application by Coöperatieve Rabobank UA, of Argentina; Credit Agricole Corporate and Investment Bank, of New York; ING Bank NV, of Brazil; the International Finance Corporation, of Washington, DC; Natixis, New York Branch, and Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden NV, of the Netherlands, to take discovery from The Clearing House Payments Company LLC, of New York; Banco Bilbao Vizcaya Argentina SA, of Spain; Banco do Brasil SA, of Brazil; Bank Leumi US, of New York; Bank of America, NA, of North Carolina; Barclays Bank PLC, of England; Citibank, NA, of New York; Deutsche Bank AG, of Germany; Deutsche Bank Trust Co Americas, of New York; HSBC Bank USA, of New York; Itau Unibanco SA - New York Branch, of Brazil; JPMorgan Chase Bank, NA, of New York; Mizuho Bank, Ltd., of Japan; MUFG Bank, Ltd., of Japan; MUFG Union Bank, NA, of New York; Sumitomo Mitsui Banking Corporation, of Japan; The Bank of New York Mellon, of New York; UBS AG, of Switzerland; Wells Fargo Bank NY INTL, of New York, and Wells Fargo Bank, of California, for use in legal proceedings in Argentina regarding suspected "major international financial impropriety" involving Vincentin SAIC, filed at the U. S. District Court for the Southern District of New York.

USA v. Airbus SE: Forfeiture Complaint

February 12, 2020 - Forfeiture Complaint in USA v. $56.5 million in proceeds from the sale of a bond belonging to Airbus SE, domiciled in the Netherlands, based in France, at the U. S. District Court for the District of Columbia.

Sint Maarten: Michael Dijkhoffz et al

February 04, 2020 - Application for the appointment of a Commissioner to collect evidence from Bank of America regarding Cyprus Enterprises LLC, Global Hardware Resellers LLC, and US Caribbean Export LLC - pursuant to a request for judicial assistance from Sint Maarten - for a criminal investigation into Michael Dijkhoffz and others for suspected "money laundering and abuse of power by a civil servant".

EXPOSED: Symtomax Group's fraudulent €12M Bond Offering

January 22, 2020 - A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.

IIG Global Trade Finance Fund Ltd. v. TOF Cayman SPV: Winding Up Petition

January 10, 2020 - Winding Up Petition alleging a debt of $15.8 million in IIG Global Trade Finance Fund Ltd. Iin Official Liquidation) v. TOF Cayman SPV at the Grand Court of the Cayman Islands.

SNEXDXB BV: Chapter 15 Petition

December 17, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Netherlands by P.E.M. Schol, as the Foreign Representative of SNEXDXB BV, formerly known as Starneth BV, against which a Singapore arbitration award of $2.9 million was entered regarding a dispute with Hyundai Engineering and Construction Co. Ltd. over the construction of "the world's largest ferris wheel in Dubai", at the U. S. Bankruptcy Court for the Southern District of New York.

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.