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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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Coöperatieve Rabobank UA et al v. The Clearing House Payments Company LLC et al: Discovery Application

February 14, 2020 - Application by Coöperatieve Rabobank UA, of Argentina; Credit Agricole Corporate and Investment Bank, of New York; ING Bank NV, of Brazil; the International Finance Corporation, of Washington, DC; Natixis, New York Branch, and Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden NV, of the Netherlands, to take discovery from The Clearing House Payments Company LLC, of New York; Banco Bilbao Vizcaya Argentina SA, of Spain; Banco do Brasil SA, of Brazil; Bank Leumi US, of New York; Bank of America, NA, of North Carolina; Barclays Bank PLC, of England; Citibank, NA, of New York; Deutsche Bank AG, of Germany; Deutsche Bank Trust Co Americas, of New York; HSBC Bank USA, of New York; Itau Unibanco SA - New York Branch, of Brazil; JPMorgan Chase Bank, NA, of New York; Mizuho Bank, Ltd., of Japan; MUFG Bank, Ltd., of Japan; MUFG Union Bank, NA, of New York; Sumitomo Mitsui Banking Corporation, of Japan; The Bank of New York Mellon, of New York; UBS AG, of Switzerland; Wells Fargo Bank NY INTL, of New York, and Wells Fargo Bank, of California, for use in legal proceedings in Argentina regarding suspected "major international financial impropriety" involving Vincentin SAIC, filed at the U. S. District Court for the Southern District of New York.

The McClatchy Company et al: Chapter 11 Bankruptcy Petition

February 13, 2020 - Chapter 11 Petition by The McClatchy Company, Cypress Media, Inc., Aboard Publishing, Inc., Bellingham Herald Publishing, LLC, Belton Publishing Company, Inc., Biscayne Bay Publishing, Inc., Cass County Publishing Company, Columbus-Ledger Enquirer, Inc., Cypress Media, LLC, East Coast Newspapers, Inc., El Dorado Newspapers, Gulf Publishing Company, Inc., Herald Custom Publishing of Mexico, S. de R.L. de C.V., HLB Newspapers, Inc., Idaho Statesman Publishing, LLC, Keltatim Publishing Company, Inc., Keynoter Publishing Company, Inc., Lee's Summit Journal, Incorporated, Lexington H-L Services, Inc., Macon Telegraph Publishing Company, Mail Advertising Corporation, McClatchy Big Valley, Inc., McClatchy Interactive LLC, McClatchy Interactive West, McClatchy International Inc., McClatchy Investment Company, McClatchy Management Services, Inc., McClatchy Newspapers, Inc, McClatchy News Services, Inc., McClatchy Property, Inc., McClatchy Resources, Inc, McClatchy Shared Services, Inc., McClatchy U.S.A., Inc., Miami Herald Media Company, N & O Holdings, Inc., Newsprint Ventures, Inc., Nittany Printing and Publishing Company, Nor-Tex Publishing, Inc., Olympian Publishing, LLC, Olympic-Cascade Publishing, Inc., Pacific Northwest Publishing Company, Inc., Quad County Publishing, Inc., Quad County Publishing, Inc., San Luis Obispo Tribune, LLC, Star-Telegram, Inc., Tacoma News, Inc., The Bradenton Herald, Inc., The Charlotte Observer Publishing Company, The News and Observer Publishing Company, The State Media Company, The Sun Publishing Company, Inc., Tribune Newsprint Company, Tru Measure, LLC, Wichita Eagle and Beacon Publishing Company, Inc., and Wingate Paper Company at the U. S. Bankruptcy Court for the Southern District of New York.

PES Holdings LLC et al v. Allianz Global Risks US Insurance Co. et al: Complaint

February 12, 2020 - Complaint to recover insurance "arising out of a catastrophic incident" whose losses "will likely exceed" $1.25 billion in PES Holdings LLC, North Yard GP, LLC, North Yard Logistics LP, PES Administrative Services, LLC, PES Energy Inc., PES Intermediate, LLC, PES Ultimate Holdings, LLC, and Philadelphia Energy Solutions Refining and Marketing LLC v. Allianz Global Risks US Insurance Company, of Illinois; AXA Corporate Solutions Assurance, of France; Lloyd's of London Underwriters, of England; General Security Indemnity Company of Arizona, Great Lakes Insurance SE, of Germany; HDI Global Insurance Company, of Illinois; HDI Global Specialty SE, of Germany; Helvetia Swiss Insurance Company in Liechtenstein Ltd., of Liechtenstein; Lancashire Insurance Company (UK) Limited, of England; Liberty Mutual Insurance Company, of Massachusetts; Mapfre Re Compania de Reaseguros, SA, of Spain; PartnerRe Ireland Insurance DAC, of Ireland; Starr Technical Risks Agency, Inc., of New York; Westport Insurance Corporation, of Missouri; XL Insurance America, Inc., of Connecticut, and Zurich American Insurance Company, of New York, at the U. S. Bankruptcy Court for the District of Delaware.

'I was never involved in fraud of any kind,' writes Alexander Martin

February 12, 2020 - Letter to OffshoreAlert from Alexander Martin, a citizen of the United Kingdom. requesting the removal of a 'Preliminary Investigation Report' regarding his arrest in Spain in 2013 for suspected involvement in a boiler room whose participants allegedly sold fraudulent investment products to the public.

EXPOSED: Symtomax Group's fraudulent €12M Bond Offering

January 22, 2020 - A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.

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.

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.