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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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Escal UGS SL v. Ruben Juanes et al: Discovery Application

January 16, 2020 - Application by Escal UGS S.L. to take discovery from Ruben Juanes and Bradford H. Hager for use in legal proceedings in Spain regarding the Castor Natural Gas Submarine Storage Project, filed at the U. S. District Court for the District of Massachusetts.

Petition to wind up British £40M fraud firm Privilege Wealth Plc

January 07, 2020 - Nearly two years after their appointment and having run out of cash, the Joint Administrators of Britain's Privilege Wealth Plc have applied to wind up the company, which collapsed after its £40 million-plus investment fraud was exposed by OffshoreAlert.

Mariana Marchesini v. Mauricio Javier Lotito Monteys: Judicial Assistance

January 06, 2020 - Application by the USA for the appointment of a Commissioner to collect evidence from Siemens Financial Services Inc. - pursuant to a request for judicial assistance from a court in Marbella, Spain - for use in a "contentious divorce" styled as 'Mariana Marchesini v. Mauricio Javier Lotito Monteys', filed at the U. S. District Court for the Middle District of Florida.

Swiss regulator appoints investigator for Bitcoin dealer and 'investment boutique'

December 23, 2019 - Swiss regulator FINMA has announced that two unrelated firms - SASuisse Group GmbH and BrokerGroup AG - have been placed under regulatory supervision, effective December 17th.

RREEF Infrastructure (GP) Ltd. et al v. Spain: Petition to Enforce Arbitral Award

December 19, 2019 - Petition to Enforce Arbitral Award in the amount of €59.6 million in RREEF Infrastructure (G.P.) Limited, of Jersey, in the Channel Islands, and RREEF Pan-European Infrastructure Two Lux SARL, of Luxembourg v. Kingdom of Spain at the U. S. District Court for the District of Columbia.

Lecta Paper UK Ltd.: Chapter 15 Petition

December 19, 2019 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England and Wales by Andrea Minguzzi, of Barcelona, Spain, as the Foreign Representative of Lecta Paper UK Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

Swiss crypto exchange Lescovex targeted by financial regulator

December 18, 2019 - The Swiss Financial Market Supervisory Authority has warned the public that cryptocurrency exchange Lescovex Exchange SA - whose principal is Spaniard Vicent Nos Ripolles - is suspected of conducting unauthorized financial activity.

Lescovex Exchange SA: Public Warning

December 18, 2019 - Public Warning by the Swiss Financial Market Supervisory Authority regarding Lescovex Exchange SA, a cryptocurrency exchange whose corporate records in Switzerland show that its principal is Vicent Nos Ripolles, a citizen of Spain.

BrokerGroup AG: Regulatory Supervision

December 17, 2019 - Public Announcement by the Swiss Financial Market Supervisory Authority that BrokerGroup AG is "subject to supervision". Editor's Note: The Commercial Register in Switzerland shows that the principal of BrokerGroup AG is Cristian Marco Gomez, a citizen of Spain.

SASuisse Group GmbH: Regulatory Supervision

December 17, 2019 - Public Announcement by the Swiss Financial Market Supervisory Authority that SASuisse Group GmbH is "subject to supervision". Editor's Note: The Commercial Register in Switzerland shows that the principal of SASuisse Group GmbH is Khalid Echaara Martin, a citizen of Spain, while the firm's website indicates it is, among other things, a Bitcoin dealer.

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.