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SEC sues John McAfee for '$23M ICO fraud' in New York

October 05, 2020 - Famous computer programmer John McAfee was today sued by the SEC in New York for allegedly swindling his Twitter followers by recommending they buy Initial Coin Offerings by entities in Belize, Nigeria, Romania, U.K. and U.S. without disclosing that he received $23 million in hidden compensation.

USA v. Nika Nazarovi et al: Indictment

September 29, 2020 - Criminal Indictment against "citizens of multiple countries, including Georgia, Latvia, Romania, Bulgaria, and Belgium" who were described as being "members of a transnational organized crime network known as 'QQAAZZ'" that "provided money laundering services to significant cybercriminal organizations that stole money from unwitting victims in the United States and abroad" involving accounts at financial institutions in Belgium, Germany, Portugal, Spain, the Netherlands, Turkey, and the United Kingdom in USA v. Nika Nazarovi, a.k.a. Nika Utiashvili, a.k.a. Mihail Atansov, a.k.a. Stefan Trifonov Zhelyazkov; Martins Ignatjevs, a.k.a. Yordan Angelov Stoyanov, a.k.a. Aleksander Tihomirov, a.k.a. Svetlin Iliyanov Asenov; Aleksandre Kobiashvili, a.k.a. Antonios Nastas, a.k.a. Ognyan Krasimirov Trifonov; Dmitrijs Kuzminovs, a.k.a. Parush Gospodinov Genchev; Valentins Sevecs, a.k.a. Marek Jaswilko, a.k.a. Rafal Szczytko; Dmitrijs Slapins, Armens Vecels, Artiom Capacli, Ion Cebanu, Tomass Trescinkas, Ruslans Sarapovs, Silvestrs Tamenieks, Andelhak Hamdaoui, and Petar Iliev at the U. S. District Court for the Western District of Pennsylvania.

Garrett Motion Inc. et al: Chapter 11 Petition

September 20, 2020 - Chapter 11 Petition by Garrett Motion Inc., of Switzerland, which "designs, manufactures and sells highly engineered turbocharger, electric-boosting and connected vehicle technologies for original equipment manufacturers and the aftermarket"; BRH LLC, of Switzerland; Calvari Limited, of Ireland; Friction Materials LLC, of Michigan; Garrett ASASCO Inc., of Michigan; Garrett Borrowing LLC, of Michigan; Garrett Holding Company Sàrl, of Switzerland; Garrett LX I Sàrl, of Luxembourg; Garrett LX II Sàrl, of Luxembourg; Garrett LX III Sàrl, of Luxembourg; Garrett Motion Australia Pty Limited, of Australia; Garrett Motion Automotive Research Mexico S. de R.L. de C.V., of Mexico; Garrett Motion Holdings Inc., of Michigan; Garrett Motion Holdings II Inc., of Michigan; Garrett Motion International Services S.R.L., of Romania; Garrett Motion Ireland A Limited, of Ireland; Garrett Motion Ireland B Limited, of Ireland; Garrett Motion Ireland C Limited, of Ireland; Garrett Motion Ireland Limited, of Ireland; Garrett Motion Italia S.r.l., of Italy; Garrett Motion Japan Inc., of Japan; Garrett Motion LLC, of Michigan; Garrett Motion México, Sociedad Anónima de Capital Variable, of Mexico; Garrett Motion Romania S.R.L., of Romania; Garrett Motion Sàrl, of Switzerland; Garrett Motion Slovakia s.r.o., of Slovakia; Garrett Motion Switzerland Holdings Sàrl, of Switzerland; Garrett Motion UK A Limited, of England; Garrett Motion UK B Limited, of England; Garrett Motion UK C Limited, of England; Garrett Motion UK D Limited, of England; Garrett Motion UK Limited, of England; Garrett Transportation I Inc., of Michigan; Garrett Transportation Systems Ltd., of England; Garrett Transportation Systems UK II Ltd., of England; Garrett TS Ltd., of England, and Garrett Turbo Ltd., of England, at the U. S. Bankruptcy Court for the Southern District of New York.

NMC Health Plc: Chapter 15 Petition

May 28, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Richard Dixon Fleming, Mark Firmin, and Ben Cairns, as the Foreign Representatives of NMC Health Plc, described as being part of a group that is "the largest private healthcare provider in the United Arab Emirates" that is suspected of "financial irregularity" and "fraudulent behavior", at the U. S. Bankruptcy Court for the District of Delaware.

USA v. Petroleum Tanker Nautic: Forfeiture Complaint

May 01, 2020 - Forfeiture Complaint regarding "the unlawful use of the U.S. financial system to support and finance Iran's transport and sale of oil products to benefit sanctioned Iranian entities" in USA v. $12,3 million fo funds "associated with petroleum tanker Nautic", a.k.a. Gulf Sky, at the U. S. District Court for the District of Columbia.

USA v. Amir Abdolaziz Dianat et al: Arrest Warrant Affidavit

April 30, 2020 - Affidavit in support of application for arrest warrant alleging "knowingly and willfully conspiring with each other and persons in Iran to use the U.S. financial system to procure a petroleum tanker named Nautic, and later renamed to the Gulf Sky, in violation of the Iranian Transactions and Sanctions Regulations" in USA v. Amir Abdolaziz Dianat, a.k.a. Ameer Abdulaazeez Jaafar, and Kamran Ali Lajmiry, a.k.a. Kamran Ali Lajmiri, at the U. S. District Curt for the District of Columbia.

Romania: Gigi-Vadik Zavera et al

January 13, 2020 - Application for the appointment of a Commissioner to collect evidence from Bank of America, Citibank, and First Federal Savings Bank - pursuant to a request for judicial assistance from Romania - for a criminal investigation into Gigi-Vadik Zavera, Cornel Pana, and Gabriel Soreav for suspected "setting up an organized crime group, computer intrusion, performance of fraudulent financial operations, illegal operations with information devices or software, counterfeiting bonds or payment instruments, circulation of counterfeited securities, and possession of tools used for the counterfeit of securities".

Arab nations claim 'hundreds of millions of dollars are missing' from Cayman Islands fund

December 30, 2019 - In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".

Gulf Investment Corp. v. Bank of America et al: Discovery Application

December 26, 2019 - Application by Gulf Investment Corporation, of Kuwait, described as "a supranational financial institution owned equally by the six Gulf Cooperation Council states: The Kingdom of Bahrain; The State of Kuwait; The Sultanate of Oman; The State of Qatar; The Kingdom of Saudi Arabia; and The United Arab Emirates", to take discovery from Bank of America, NA, The Bank of New York Mellon, Citibank, NA, Deutsche Bank AG, New York Branch; Deutsche Bank Trust Company USA, Goldman Sachs and Co., HSBC Bank USA, NA, JPMorgan Chase Bank, NA, Mashreqbank PSC, New York Branch; National Australia Bank Limited, New York Branch; Standard Chartered Bank, New York Branch; and Wells Fargo Bank NA for use in "contemplated litigation in the Cayman Islands" regarding "hundreds of millions of dollars that have gone missing", filed at the U. S. District Court for the Southern District of New York.

Arif Efendi v. DigitalOcean LLC: Discovery Application

May 01, 2019 - Application by Arif Efendi, of London, England, to take discovery from DigitalOcean LLC for use in legal proceedings in Romania and Cyprus involving Doyen Sports Investment Limited, of Malta, and Tevfik Arif at the U. S. District 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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UAE 'gold supplier' SION Trading sued for '$5M fraud'
UAE-domiciled purported gold supplier SION Trading FZE, which has been implicated in several fraudulent schemes, including a cryptocurrency scam involving Bermuda-based Arbitrade, is being sued in Utah along with individuals and firms in or from Barbados, Canada, England, Panama, St. Lucia, and the USA for allegedly perpetrating a $5 million 'advance fee' fraud.
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.