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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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Serious Fraud Office v. Airbus SE: Judgment

January 31, 2020 - Judgment approving a Deferred Prosecution Agreement and imposing a "total financial sanction" of €990,963,712 for suspected bribery in Director of the Serious Fraud Office v. Airbus SE at the Crown Court, in Southwark, England.

USA v. Duke University: Discovery Application

December 23, 2019 - Application by the USA for an Order to obtain "documents and information from Duke University" pursuant to a request from South Korea for use in civil legal proceedings styled as "Cho Young-Ae, et al v. Bang Byung-Kuk, et al", filed at the U. S. District Court for the Middle District of North Carolina.

LAM Global Management Ltd. I v. IIG Structured Trade Finance Fund Ltd.: Winding Up Petition

December 04, 2019 - Winding Up Petition in LAM Global Management Ltd. I v. IIG Structured Trade Finance Fund Ltd. at the Grand Court of the Cayman Islands.

Bulgaria: Bank of America

November 25, 2019 - Application for the appointment of a Commissioner to collect evidence from the Bank of America - pursuant to a request for judicial assistance from Bulgaria - for a criminal investigation into "an unidentified person" for suspected fraud.

US affiliate of Malta bank accused of massive fraud by SEC

November 21, 2019 - New York-based, Cayman Islands-administered investment adviser International Investment Group LLC, which is affiliated with Malta's IIG Bank, with both owned by a bankrupt fund in Curaçao, committed "a string of frauds to cover up tens of millions of dollars in losses", the SEC has alleged.

ED&F Man Capital Markets Ltd. v. Matthew Olivo et al: Discovery Application

August 06, 2019 - Application by ED&F Man Capital Markets Limited, of England, described as "the victim of a large fraud arising out of its purported purchase of nickel for trading purposes", to take discovery from Matthew Ryan Olivo and Ian McGuinn for legal proceedings in England against Come Harvest Holdings Limited, of Hong Kong; Mega Wealth International Trading Limited, of Hong Kong; Steven Kai Shing Kao, of California; Genesis Resources Inc., of California; Genesis Properties Holding LLC, of California; Genesis KingHwa LLC, of California; Transcendent Global Finance, Inc., of California; Transcendent (SG) Pte Ltd., of Singapore; Sampo International Ltd., of the British Virgin Islands, and Straits (Singapore) Pte Ltd., of Singapore, filed at the U. S. District Court for the Southern District of New York.

Beacon Sales Acquisition Inc. v. Sam Youn: Discovery Application

July 25, 2019 - Application by Beacon Sales Acquisition Inc. to take discovery from Sam Youn for use in legal proceedings in South Korea captioned S-Energy America, Inc. v. Allied Building Products, Inc., filed at the U. S. District Court for the District of Nevada.

Deepak Raswant v. Centaur Ventures Ltd. et al: Petition

July 23, 2019 - Petition in Deepak Raswant, of New Delhi, India v. Centaur Ventures Ltd., The Centaur Group Limited, and Daniel James McGowan at Bermuda Supreme Court.

Energy Innovation Group, Ltd.: Chapter 15 Petition

July 02, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in South Korea by Min Hee Jeong, as the Foreign Representative of Energy Innovation Group, Ltd., at the U. S. Bankruptcy Court for the Northern District of California.

Doosan Heavy Industries and Construction Co., Ltd. v. Liberty Maritime Corp.: Discovery Application

June 25, 2019 - Application by Doosan Heavy Industries and Construction Co., Ltd., of South Korea, to take discovery from Liberty Maritime Corporation for use in legal proceedings in Egypt involving Damietta International Port Company S.A.E., of Egypt, and Kuwait Gulf Link Ports International, a.k.a. KGL International For Ports, Warehousing and Transport K.S.C.C., of Kuwait, at the U. S. District Court for the Eastern 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.