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BVI broker Worldwide Markets and NJ-based CEO swindled $400K from clients, claims SEC

June 25, 2019 - The US SEC has accused British Virgin Islands-domiciled broker-dealer Worldwide Markets Ltd. and its New Jersey-based principal, Thomas Plaut, of misappropriating at least $400,000 from clients, including residents of Costa Rica and Nigeria.

SEC v. Worldwide Markets Ltd. et al: Complaint

June 25, 2019 - Complaint alleging fraud in U. S. Securities and Exchange Commission v. Worldwide Markets Ltd., of the British Virgin Islands; TAB Networks Ltd., of New Jersey, and Thomas E. Plaut, of New Jersey, at the U. S. District Court for the District of New Jersey.

BSG Resources Ltd.: Chapter 15 Petition

June 03, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Guernsey by William Callewaert and Malcolm Cohen, as the Foreign Representatives of BSG Resources Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Edward Fagan v. East West Bank et al: Discovery Application

April 15, 2019 - Application by Edward Fagan to take discovery from East West Bank and Zhejiang Sunmarr International Transportation Co. Ltd. for use in a criminal investigation in South Africa into a 'Nigerian inheritance scam', filed at the U. S. District Court for the Central District of California.

Nigeria v. International Legal Consulting Ltd. et al: Restoration Application

March 21, 2019 - Fixed Date Claim Form in Federal Republic of Nigeria v. International Legal Consulting Limited, The Registrar of Companies, and The Financial Secretary at the British Virgin Islands High Court.

Edward Fagan v. Chase Bank et al: Discovery Application

February 06, 2019 - Application for discovery in Edward Fagan v. Chase Bank, East West Bank, Bank of America, Mei You Le Inc., Jianhua Ma, Xuxin Liu, Zhejiang Sunmarr International Trans Co. Ltd., and Mellin Fan at the U. S. District Court for the Central District of California.

NNPC LNG Ltd.: Restoration Application

December 06, 2018 - Originating Application in the matter of NNPC LNG Ltd. at the Grand Court of the Cayman Islands.

Iyen Idienumah v. Schlumberger Global Resources Ltd.: Writ of Summons

August 28, 2018 - Specially Indorsed Writ of Summons in Iyen Idienumah v. Schlumberger Global Resources Limited at Bermuda Supreme Court.

Carlton Masters v. Bank of America et al: Discovery Application

June 12, 2018 - Ex Parte Application by Carlton Masters for an order to conduct discovery from Bank of America and Citibank, N.A. for use in a lawsuit between Carlton A. Masters and Ugo Okafor, Rachel Akhuette, and Fifty Nine Parkview Limited at the High Court of Lagos State in Nigeria.

Avanti Communications Group Plc: Chapter 15 Petition

February 21, 2018 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England and Wales by Patrick Willcocks, as the Foreign Representative of Avanti Communications Group Plc, 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.