OffshoreAlert
Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

ST. VINCENT & THE GRENADINES

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CFTC v. PayForex: Complaint

September 24, 2020 - Complaint alleging the defendant "is illegally soliciting or accepting orders for leveraged, margined or financed retail off-exchange foreign currency, precious metals, and digital asset transactions from U.S. customers without being registered" in Commodity Futures Trading Commission v. Laino Group Limited, d.b.a. PayForex, of Saint Vincent and the Grenadines, at the U. S. District Court for the Southern District of Texas.

Forex Birds Ltd. et al: Emergency Cease and Desist Order

September 03, 2020 - Emergency Cease and Desist Order for alleged fraud and the sale of unregistered securities involving "cryptocurrency trading investment programs" in Texas State Securities Board v. Forex Birds Ltd., Kumar Babu Gondesi, a citizen of India; Eric Balusek, a.k.a. Darwin Eric Balusek, a.k.a. Bitcoin Pope, all of England and Saint Vincent and the Grenadines, and Pek Universe, of Australia.

David Motes v. Equiti US LLC et al: Class Action Complaint

April 07, 2020 - Class Action Complaint alleging investment fraud involving companies in the Bahamas, New Zealand, and Saint Vincent and the Grenadines in David Motes v. Equiti US LLC, of Florida, and Equiti Capital UK Limited, of England, at the U. S. District Court for the Southern District of Florida.

Alfa-Bank JSC v. Emmerson International Corp. et al: Judgment

April 06, 2020 - Judgment regarding whether to continue injunctions involving an allegation that Alfa-Bank "is the victim of a US$120 million fraud" in Alfa-Bank JSC v. Emmerson International Corp., Batios Holdings Ltd., Brasspoint Trading Ltd., Otoba Assets Ltd., and AVS Partners Global Consulting Group Ltd. at the British Virgin Islands High Court.

Offshore bank sues Mastercard for 'driving it into liquidation' by terminating its license

March 12, 2020 - Loyal Bank, of Saint Vincent and the Grenadines, is suing Mastercard for allegedly causing its liquidation by terminating its license and keeping its $1.5 million deposit as a "termination fee" after the offshore bank was charged with money laundering in the U.S.

Loyal Bank Ltd. et al v. Mastercard International Inc.: Complaint

March 11, 2020 - Complaint alleging breach of contract in Loyal Bank Limited, of Saint Vincent and the Grenadines, and its Joint Liquidators, Ikins Clarke, of Barbados, and Rikhi Rampersad, of Trinidad & Tobago v. Mastercard International Inc. at the U. S. District Court for the Southern District of New York.

USA v. Panayiotis Kyriacou: USA's Sentencing Letter

March 03, 2020 - USA's Sentencing Letter in USA v. Panayiotis Kyriacou, a.k.a. Peter Peter Kyriacou, a citizen of the United Kingdom, at the U. S. District Court for the Eastern District of New York.

Sylvia Sutherland v. Pannell Kerr Forster et al: Judgment

October 17, 2019 - Judgment regarding "the breakdown of a professional relationship" in Sylvia Sutherland v. Pannell Kerr Forster and Floyd Patterson at the Saint Vincent and the Grenadines High Court.

SEC accuses offshore firms of $125M investment fraud

September 19, 2019 - The U. S. Securities and Exchange Commission has accused companies in the Bahamas, Cayman Islands, Cook Islands, New Zealand, Puerto Rico, Saint Vincent and the Grenadines, and the United States of participating in a $125 million investment fraud involving a group known as Mediatrix Capital.

SEC v. Mediatrix Capital Inc. et al: Freezing Motion

September 12, 2019 - Emergency Motion for an Ex Parte Asset Freeze and Temporary Restraining Order in U. S. Securities and Exchange Commission v. Mediatrix Capital Inc., initially of Belize and then the Bahamas; Blue Isle Markets Inc., domiciled in Saint Vincent and the Grenadines, based in the Bahamas; Blue Isle Markets Ltd., of New Zealand; Michael Stephen Young, of Denver, Colorado; Michael Shawn Stewart, of Scottsdale, Arizona, and Bryant Edwin Sewall, of Dallas, Texas, and the Bahamas, as Defendants, and Mediatrix Capital Fund Ltd., of the Bahamas; Island Technologies LLC, of Puerto Rico; Victoria M. Stewart, Maria C. Young, Hanna Ohonkova Sewall, of Kiev, Ukraine; Michael C. Baker, of Denver, Colorado; Walter C. Young III, of Seattle, Washington; Arual LP, of Utah; West Beach LLC, of Puerto Rico; Salve Regina Trust, of the Cook Islands; TF Alliance LLC, of Colorado; Casa Conejo LLC, of Puerto Rico; Hase Haus LLC, of Colorado; DCC Islands Foundation, of the Bahamas; Keystone Business Trust, of Massachusetts; Weinzel LLC, of Nevada; The 1989 Foundation, of the Bahamas; Mediatrix Capital PR LLC, of Puerto Rico; Mediatrix Capital LLC, of Colorado, and Blue Isle Markets Inc., of the Cayman Islands, as Relief Defendants, at the U. S. District Court for the District of Colorado.

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.