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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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REDS Caribbean Ltd.: Discovery Application (Robert Holloway et al)

July 12, 2019 - Ex Parte Application by Mark McDonald and David Holukoff, as the Joint Official Liquidators of REDS Caribbean Ltd., of Trinidad and Tobago, to take discovery from Robert Holloway, REDS Americas Inc., Lavelle Holdings Inc., BBVA Compass, and Frost Bank regarding REDS Caribbean Ltd., REDS Caribbean (BVI) Ltd., Reds Americas Inc., Michael Robert Charbonne, Tricia Charbonne-Downes, Randall Harford, Dayne Harford, Ryan Harford, Daynco Ltd., Robert Holloway, JUKES Group, Raymond Mark McMillan, Global Insurance Services Ltd., Goliath Offshore Services Ltd., Goliath Offshore Holdings Pte Ltd., Goliath Offshore Pte Ltd., Avant Garde Insurance Services Ltd., Penelope Belmontes, a.k.a. Penelope Rahim; Lavelle Holdings Inc., Sherron Harford, and Hayden Borrell for an investigation into suspected fraud involving companies in the British Virgin Islands, Singapore, Trinidad and Tobago, United Kingdom, and USA, filed at the U. S. District Court for the Southern District of Texas.

Zillion Global Ltd. et al v. Deutsche Bank AG: Judgment

July 12, 2019 - Judgment in Zillion Global Limited and Fields Pacific Limited, both of the British Virgin Islands v. Deutsche Bank AG. Singapore Branch at Singapore High Court.

Scandal-plagued Argentarius Group closes in Malta, moves to Cayman

July 12, 2019 - Amid legal and regulatory issues, Argentarius Group - which provides low-cost, regulation-free investment funds to asset managers, particularly fraudsters - has closed down in Malta, having moved its headquarters to the Cayman Islands, where it operates as iMaps Capital.

NN2 Newco Ltd.: Chapter 15 Petition

July 09, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England and Wales by Jane Moriarty, as the Foreign Representative of NN2 Newco Limited, an indirect subsidiary of Nyrstar N.V., of Belgium and Switzerland, at the U. S. Bankruptcy Court for the Southern District of New York.

Saimee Bin Jumaat v. IPP Financial Advisers Pte et al: Judgment

July 04, 2019 - Judgment regarding a failed investment in Saimee Bin Jumaat, a retired professional horse jockey in Singapore, v. IPP Financial Advisers Pte, Moi Kok Keong, and Quek Miaw Sian Alice at Singapore High Court.

Arempa International Ltd. FZC v. Tucows Inc.: Discovery Application

June 26, 2019 - Application by Arempa International Ltd. FZC, of Dubai, to take discovery from Tucows Inc. for use in proceedings in the United Arab Emirates, Hong Kong, and the United Kingdom against Barclays Bank and others regarding an alleged phishing fraud, filed at the U. S. District Court for the Middle District of Pennsylvania.

REDS Caribbean Ltd.: Discovery Application (RBC Royal Bank)

June 21, 2019 - Application by Mark McDonald and David Holukoff, as Joint Official Liquidators of REDS Caribbean Ltd. to take discovery from RBC Royal Bank regarding individuals and entities in the British Virgin Islands, Singapore, Trinidad and Tobago, and the United Kingdom for use in legal proceedings in Trinidad and Tobago, filed at the U. S. District Court for the Eastern District of New York.

International Financial Services (S) Pte. Ltd.: License Revocation

June 21, 2019 - Enforcement Action by the Singapore Monetary Authority revoking the Financial Adviser's License of International Financial Services (S) Pte. Ltd., whose shareholders include Mark Richards, John Anthony Parry, Thomas Paul Fewtrell, and Christopher Ivinson, all of England, and Karen Tan Yin Lian, of Singapore.

International Financial Services (S) Pte. Ltd.: Business Profile

June 21, 2019 - Business Profile of International Financial Services (S) Pte. Ltd., of Singapore.

SEC v. Kit Mun Chan et al: Complaint

June 19, 2019 - Complaint alleging fraud in U. S. Securities and Exchange Commission v. Kit Mun Chan, of Malaysia; Lau Kean Chong, of Singapore; Chong Poui Fan, of Malaysia; Binji Lu, of China, and Youn Chien Wong, of Malaysia, 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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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.