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Fortinvest Investments Holding SA SPF v. Vladimir Oblonsky et al: Complaint

October 14, 2020 - Complaint alleging "a scheme by Defendant Edmond de Rothschild (Europe) S.A. to use the luster and reputation of the Rothschild name to defraud Plaintiff Fortinvest of tens of millions of dollars" in Fortinvest Investments Holding SA SPF, of Luxembourg v. Vladimir Oblonsky, of New York; Olga Oblonsky, of New York; Fontanelle Capital Inc., of New York; OIM Capital LLC, of Delaware; Mikhail Filimonov, of New York, and Edmond de Rothschild (Europe) S.A., of Luxembourg, at the Supreme Court of the State of New York, County of New York.

Insider Talking: June 30, 2004

June 30, 2004 - In separate actions, the Cayman Islands Monetary Authority has announced its intention to revoke the Mutual Fund Administrator's license held by Signature Financial Group (Grand Cayman) Ltd., c/o P. O. Box 2494 GT, Grand Cayman, and that it has revoked the unrestricted Class 'B' Insurer's License held by Potomac Indemnity Company, effective April 6, 2004; Controversial newsletter publisher Pirate Investor LLC has obtained a subpoena against Yahoo! Inc. as part of its attempt to identify an anonymous Internet user who is suspected of a breach of copyright; The Isle of Man Financial Supervision Commission issued notices over April-June, 2004 urging the public to "exercise the greatest possible caution" when dealing with several businesses; The Office of the Comptroller of the Currency, which regulates national banks in the United States, has issued advisories several 'banks'; If anyone wants a blueprint of how not to attempt to transport more than $10,000 out of the United States without correctly filling out the proper Customs forms, they could do a lot worse than study the case of 23-year-old Bahamian national Antunya Shenique Rahming; A Costa Rica-based private bank that targeted expatriates – Corporación Elca, S.A., more commonly known as Banco Elca – has been closed down by local regulator Superintendencia General de Entidades Financieras; Evidence of corruption against Grenada's Prime Minister Keith Mitchell and former Director of Public Prosecutions and current "Special Prosecutor" Hugh Wildman while he was Director of Public Prosecutions was referred to in a Judgment delivered in the UK High Court on June 24, 2004 in a civil lawsuit that had been filed against former First International Bank of Grenada CEO Lawrence Victor Jones by his former fiancé, Kerry Cox; Apart from being home to many a fraudulently-operated offshore company, the South Pacific island of Niue is also one of the biggest producers of Internet pornography in the world; The Australian Securities and Investments Commission announced on June 11, 2004 that it had concluded its proceedings in the Supreme Court of New South Wales against Trans Pacific Insurance Corporation, a Cayman Islands-registered insurers, and Triton Underwriting Insurance Agency Pty Ltd.; and Under the Progressive Labour Party Government, Bermuda — for so long a model, small-country jurisdiction — is hurtling towards being as openly corrupt as any of the islands in the Caribbean that it has historically looked down on.

Newt Utopia: What happened to the little nations that were the first to capitulate to the FATF, OECD and IMF tax bullies?

April 30, 2003 - What happened to the little nations that were the first to capitulate to the FATF, OECD and IMF tax bullies? When the FAFT/OECD began the Non Compliant Countries and Territories (NCCT) ploy, they first went after several very small nations. These small nations were some of the first to capitulate and no longer offer a "harmful tax" competition jurisdiction. I am not saying they didn't deserve some of the abuse heaped upon them, but given the wholesale sleaze that exists in major countries such as the United Kingdom, France, and the United States, particularly on Wall Street, which is littered with dirt bags wearing expensive suits and working for companies with household names such as Citibank and Goldman Sachs, let's put it into its proper perspective …

Brek Energy - past allegations against CFO

July 31, 2002 - OffshoreAlert has uncovered further information casting doubt on the legitimacy of Nasdaq-listed Brek Energy, whose dismal operating results caused the Bank of Bermuda to write off its entire $14.3 million investment.We have obtained details of allegations of impropriety against the firm's Chief Financial Officer in 1995 relating to a former employer.

Newt Utopia: A look at Offshore Financial Centers in the Pacific islands

December 31, 2001 - Niue (Last rock from the Sun); Nauru; Marshall Islands; Solomon Islands; Cook Islands; Vanuatu; Shift In Fortunes; FATF/OECD - How they are Viewed; and The Future.

Niue complains about US ban on monetary transactions

February 28, 2001 - The offshore financial center of Niue has had sanctions placed on it's banking industry by the United States that is having a serious impact on the island's economy, it was reported recently.Niue Prime Minister Sani Lakatani told a Pacific Leaders Conference in January that the US had forbidden cash transfers to Niue or any of its entities in New Zealand or Australia, reported the French-based news agency Agence France Presse.

Offshore shareholders face huge losses after First Ecom share price collapses

November 30, 2000 - A publicly-traded company whose principal shareholders include the Bank of Bermuda and Lines Overseas Management is well on the way to becoming an e-commerce flop. The share price of First Inc. hit an all-time low of $1.063 on NASDAQ on November 30, 2000 just nine months after a trading high of $34 on the over-the-counter market.

Offshore Financial Centers capitulate to international pressure

July 31, 2000 - The governments of offshore financial centers have moved with unprecedented haste in changing their regulatory and supervisory systems in order to be removed from international 'hit lists'.Rather than attempt to group together and negotiate with foreign agencies from a position of strength, many governments have capitulated to international pressure and rushed through emergency legislation.

Finding the Beneficial Owner: Making Sense of the Changing Landscape

September 11, 2011 - Learn about the various standards and statutes out there and join in the discussion to generate some practical ideas and policy initiatives to help the identification process.

Are OFCs Fairly or Overly Protective of Non-Executive/Independent Directors in their Legislation and Case Law?

September 11, 2011 - An independent offshore fund director and a professional liquidator, each 'represented' by an attorney, argue the pros and cons of whether Offshore Financial Centers protect independent directors too much at the expense of creditors.

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.