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Petra Diamonds US$ Treasury Plc: Chapter 15 Petition

December 15, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Jacques Breytenbach, as the Foreign Representative of Petra Diamonds US$ Treasury Plc, described as being part of "an independent diamond mining group and supplier of gem quality rough diamonds to the international market", at the U. S. Bankruptcy Court for the Southern District of New York.

Malcolm Duncan v. Max Barber et al: Receivership Motion Opposition

September 30, 2020 - Max Barber's Opposition to Malcolm Duncan's Motion for an Order "appointing a receiver to sell the set of Nelson Mandela gold hands and accompanying certificates of authentication (the "Mandela Hands"); and (ii) modifying the February 27, 2020 temporary restraining order to permit the receiver to sell the Mandela Hands" in Malcolm Duncan, a citizen of South Africa v. Max Barber, SION Trading FZE, of Ras Al Khaimah, in the United Arab Emirates, and Barlan Enterprises Ltd., d.b.a. Guernsey's, a firm of auctioneers based in New York, at the Supreme Court of the State of New York, County of New York.

I.T. Knowledge and Expertise CC v. Visa Inc.: Discovery Application

September 22, 2020 - Application by I.T. Knowledge and Expertise CC, of South Africa, to take discovery from Visa Inc. for use in legal proceedings in South Africa against First National Bank Limited, filed at the U. S. District Court for the Northern District of California.

Malcolm Duncan v. Max Barber et al: Receivership Motion

September 17, 2020 - Malcolm Duncan's Motion for an Order "appointing a receiver to sell the set of Nelson Mandela gold hands and accompanying certificates of authentication (the "Mandela Hands"); and (ii) modifying the February 27, 2020 temporary restraining order to permit the receiver to sell the Mandela Hands" in Malcolm Duncan, a citizen of South Africa v. Max Barber, SION Trading FZE, of Ras Al Khaimah, in the United Arab Emirates, and Barlan Enterprises Ltd., d.b.a. Guernsey's, a firm of auctioneers based in New York, at the Supreme Court of the State of New York, County of New York.

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, and Rajendra Kumar Ujoodha, all of Mauritius; its secretary is Muhammad Houmayd Sulleman Rawat, of Mauritius, and its sole 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.

CFTC v. Dennis Jali et al: Complaint

August 28, 2020 - Complaint alleging the defendants "orchestrated a Ponzi scheme that ultimately yielded over $28 million in fraudulently solicited funds from over 1,000 individuals, entities, and groups of individuals" in Commodity Futures Trading Commission v. Dennis Jali, described as a citizen of South Africa; Arley Ray Johnson, of Maryland; John Frimpong, a.k.a. 'Dr. John Erasmus'; 1st Million LLC, a.k.a. 1stMillionDollars, of Maryland; Smart Partners LLP, of Delaware, and Access2Assets LLC, of Maryland, at the U. S. District Court for the District of Maryland.

SEC v. Dennis Jali et al: Complaint

August 28, 2020 - Complaint alleging the defendants "fraudulently raised more than $27 million from approximately 1,200 investors, many of them African immigrants" in U. S. Securities and Exchange Commission v. Dennis M. Jali, described as a citizen of South Africa; John E. Frimpong, described as a citizen of Ghana; Arley R. Johnson, of Maryland; The Smart Partners LLC, of Delaware, and 1st Million LLC, of Maryland, as Defendants, and Access2Assets LLC, of Maryland, as Relief Defendant, at the U. S. District Court for the District of Maryland.

Nkwe Platinum Ltd. v. Glendina Ltd. et al: Originating Summons

August 21, 2020 - Originating Summons in Nkwe Platinum Limited, of Bermuda v. Glendina Limited, of Australia, as Trustee of the Sunset Superannuation Fund; Genorah Resources Proprietary Limited, of South Africa, and 456 individual defendants from Australia, Germany, Isle of Man, Malaysia, New Zealand, Sweden, Thailand, United Kingdom, and United States at Bermuda Supreme Court.

The Industrial Development Corporation of South Africa Ltd. v. Bank of America et al: Discovery Application

July 28, 2020 - Application by The Industrial Development Corporation of South Africa Limited to take discovery from Bank of America N.A., Bank of Baroda, Bank of China, New York Branch; The Bank of New York Mellon, BNP Paribas, New York Branch; Citibank N.A. Commerzbank AG, New York Branch; Deutsche Bank Trust Company Americas, HSBC Bank (USA) N.A., JPMorgan Chase Bank, N.A., Mashreq Bank, New York Branch; National Bank of Abu Dhabi, Societe Generale, New York Branch; Standard Chartered Bank, New York Branch; UBS AG, New York Branch, and Wells Fargo Bank N.A. for use in legal proceedings in South Africa involving Oakbay Resources and Energy Limited and allegations of "money laundering, common law fraud, and securities fraud", filed at the U. S. District Court for the Southern District of New York.

Ian Bekker v. BVI Registrar of Corporate Affairs: Liquidation Termination Application

July 09, 2020 - Fixed Date Claim Form to terminate the liquidation of Haymaker Property Company Limited in Ian Bekker, of South Africa v. The Registrar of Corporate Affairs, of South Africa, at the British Virgin Islands High Court.

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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British 'crypto-friendly' travel booking firm Travala facing strike-off
UPDATED: Shortly after OffshoreAlert reported that British 'blockchain-based, cryptocurrency-friendly' online travel booking start-up Travala, which has raised over £2 million from investors and is now owned by a Cayman Islands firm, was facing compulsory strike off for failure to file its accounts, the firm filed unaudited "Micro-entity Accounts" with Companies House that contained scant details.
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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.