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Syscontek Consulting LLC: Public Censure

September 08, 2020 - Public Statement by the Qatar Financial Centre Authority that it has censured Syscontek Consulting LLC for regulatory breaches regarding beneficial ownership requirements. Editor's Note: Research by OffshoreAlert in the Qatar Financial Centre Public Register showed that Syscontek Consulting LLC, trading as SCT Consulting, was formed on November 26th, 2017, has had its "Licence Withdrawn by QFCA", and its "significant shareholder" is Allan Brandt Callo, whose LinkedIn profile states that he is based in Dallas, Texas.

Encryptics Data Security LLC et al: Public Censures

September 06, 2020 - Announcement by the Qatar Financial Centre Authority that it has imposed "a public censure" on Encryptics Data Security LLC and Siham Boulbadaoui for regulatory breaches regarding beneficial ownership.

Century Banking Corporation Ltd.: License Revocation

September 01, 2020 - Public Notice by the Mauritius Financial Services Commission that it has revoked the Islamic Banking License of Century Banking Corporation Ltd. Editor's Note: Research by OffshoreAlert in the Corporate and Business Registration Department for Mauritius showed that Century Banking Corporation Ltd. was incorporated on May 21st, 2008, its directors are Charles Mark Broadley, of Hong Kong; Waleed Qassim Bangash, of Bahrain; Shakil Ibrahim Moollan, Rajendra Kumar Ujoodha, and Muhammad Houmayd Sulleman Rawat, all of Mauritius, and its shareholder is CBC Capital Limited, of Hong Kong. Research in the Hong Kong Companies Registry showed that the sole director of CBC Capital Limited is Charles Mark Broadley and its sole shareholder is Oryx Investment Limited, of Hong Kong, and that the sole director of Oryx Investment Limited is Kenneth Richard Wyness, a citizen of South Africa residing in Mauritius, and its sole shareholder is Ghanim Saad M. Alsaad Al-Kuwari, of Qatar. Charles Broadley ceased being a director of Oryx Investment Limited on July 31st, 2019.

InvestBank PSC v. Citibank et al: Discovery Application

July 24, 2020 - Application by InvestBank PSC to take discovery from Citibank N.A., Deutsche Bank Trust Co. Americas, Standard Chartered Bank,  The Bank of New York Mellon, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Wells Fargo Bank, N.A., Bank of America, N.A., HSBC Bank USA, N.A., Société Générale, BNP Paribas USA, The Bank of Nova Scotia, UBS AG, Commerzbank AG, Bank of China, New York Branch, and The Clearing House Payments Company LLC for use in "contemplated proceedings" in Dubai "against Greenline Interiors FZCO, Greenline Yacht Interiors FZCO, Samir Michael Badro, Nabila Iskandar Samir Abboud Badro, Lea Samir Badro Hamadeh, Roy Samir Badro, and Fay Badro Zakhem" involving, inter alia, companies in Bahrain, British Virgin Islands, Dubai, Germany, Lebanon, Qatar, Saudi Arabia, Syria, United Kingdom, and the USA, filed at the U. S. District Court for the Southern District of New York.

Mohammed Thani Al Thani v. Alan Hanke et al: Complaint

June 22, 2020 - Complaint alleging investment fraud in Mohammed Thani A.T. Al Thani, a citizen of Qatar v. Alan J. Hanke, of Crystal Lake, Illinois, and IOLO Global LLC, of Wyoming, at the U. S. District Court for the Southern District of New York.

Horizon Crescent Wealth LLC v. Qatar Financial Centre Regulatory Authority et al: Judgment

June 09, 2020 - Judgment regarding permission to appeal in Horizon Crescent Wealth LLC v. Qatar Financial Centre Regulatory Authority and Qatar Financial Centre Authority at the Appellate Division of the Civil and Commercial Court of the Qatar Financial Centre.

Horizon Crescent Wealth LLC: QFCRA Press Release

March 29, 2020 - Press Release by the Qatar Financial Centre Regulatory Authority regarding a QAR 30 million fine imposed against Horizon Crescent Wealth LLC. Editor's Note: Research by OffshoreAlert showed that, in the Public Register for the Qatar Financial Centre, the directors of Horizon Crescent Wealth LLC are Patrick Baeriswyl and Jean Marc Mantegani, while Baeriswyl is the only person listed under "significant shareholders". Baeriswyl appears to be based in Switzerland and Mantegani appears to be a citizen of Switzerland based in England.

Horizon Crescent Wealth LLC: QAR30M Fine

March 29, 2020 - Public Statement by the Qatar Financial Centre Regulatory Authority regarding fines totaling QAR 30 million imposed against Horizon Crescent Wealth LLC. Editor's Note: Research by OffshoreAlert showed that, in the Public Register for the Qatar Financial Centre, the directors of Horizon Crescent Wealth LLC are Patrick Baeriswyl and Jean Marc Mantegani, while Baeriswyl is the only person listed under "significant shareholders". Baeriswyl appears to be based in Switzerland and Mantegani appears to be a citizen of Switzerland based in England.

State of Qatar v. First Abu Dhabi Bank PJSC et al: First Amended Complaint

January 17, 2020 - First Amended Complaint alleging fraud regarding "brazen schemes to manipulate the markets of Qatari currency. bonds, and other financial instruments" that "arise out of an illicit blockade of Qatar by the Kingdom of Saudi Arabia, the United Arab Emirates, and the Kingdom of Bahrain, which seeks to isolate Qatar by land, air, and sea" in State of Qatar v. First Abu Dhabi Bank PJSC, of Abu Dhabi, and Samba Financial Group SJSC at the Supreme Court of the State of New York, County of New York.

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".
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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.