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USA v. David Sinyavskiy: Complaint

May 17, 2021 - Complaint "to reduce to judgment and collect outstanding civil penalties" totaling $80,724 for "non-willful failure to timely report his financial interest in foreign bank accounts" involving an account at Rothschild Bank AG, in Zurich, Switzerland, in USA v. David Sinyavskiy, described as a former resident of Ukraine who became a United States citizen, at the U. S. District Court for the Eastern District of New York.

Frazer Solar GmbH v. Kingdom of Lesotho: Petition to Enforce Foreign Arbitral Award

May 17, 2021 - Petition to Enforce Foreign Arbitral Award in the amount of €50 million, plus interest, costs and fees, in Frazer Solar GmbH, described as a German company that "designs, constructs and facilitates the financing of renewable energy projects in multiple countries around the world" v. The Kingdom of Lesotho at the U. S. District Court for the District of Columbia.

S&P Dow Jones Indices LLC: $9M Fine

May 17, 2021 - Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $9 million on S&P Dow Jones Indices LLC for regulatory breaches involving Credit Suisse AG, of Switzerland.

BVI participant in Exential Group's '$200M Ponzi scheme' applies for Chapter 15 in Miami

May 16, 2021 - A British Virgin Islands company that is part of the Dubai-based Exential Group of forex trading companies that perpetrated a $200 million Ponzi scheme has applied for Chapter 15 bankruptcy recognition in the United States.

ASAP International Hotel LLC v. Sky Harbor Atlanta Northeast LLC: Complaint

May 14, 2021 - Complaint in ASAP International Hotel LLC, of Pasadena, California, on behalf of itself as former Manager of ASAP Cayman Atlanta Hotel LLC, of the Cayman Islands, and on behalf of the former members of ASAP Cayman Atlanta Hotel LLC v. Sky Harbor Atlanta Northeast LLC, of Delaware, at the U. S. District Court for the District of Delaware.

IIG Global Trade Finance Fund Ltd. v. Bank Leumi USA: Complaint

May 14, 2021 - Complaint for $446,186 in IIG Global Trade Finance Fund Ltd. (in Official Liquidation) and IIG Structured Trade Finance Fund Ltd. (in Official Liquidation), both of the Cayman Islands v. Bank Leumi USA at the U. S. Bankruptcy Court for the Southern District of New York.

USA v. Swiss Life Holding AG et al: Criminal Information

May 14, 2021 - Criminal Information alleging conspiracy to defraud the United States in USA v. Swiss Life Holding AG, of Switzerland; Swiss Life (Liechtenstein) AG, of Liechtenstein; Swiss Life (Luxembourg) SA, of Luxembourg, and Swiss Life (Singapore) Pte. Ltd., of Singapore, at the U. S. District Court for the Southern District of New York.

USA v. Swiss Life Holding AG et al: Deferred Prosecution Agreement

May 14, 2021 - Deferred Prosecution Agreement, with exhibits that include a Criminal Information, Statement of Facts, and Forfeiture Complaint, in USA v. Swiss Life Holding AG, of Switzerland; Swiss Life (Liechtenstein) AG, of Liechtenstein; Swiss Life (Luxembourg) SA, of Luxembourg, and Swiss Life (Singapore) Pte. Ltd., of Singapore, who agreed to pay $77 million to settle a criminal charge of what the USA described in an accompanying news release as "conspiring with U.S. taxpayers and others to conceal from the Internal Revenue Service more than $1.452 billion in offshore insurance policies, including more than 1,600 insurance wrapper policies, and related policy investment accounts in banks around the world and the income generated in these accounts", filed at the U. S. District Court for the Southern District of New York.

Cairn Energy Plc et al v. Air India Ltd.: Complaint

May 14, 2021 - Complaint "to determine and resolve questions of actual controversy involving the relationship between India's wholly-owned national airline, Air India, and India, and in particular, whether Air India is the alter ego of India" and for "a money judgment adjudging that Air India is jointly and severally liable to satisfy the judgment Plaintiffs expect to be awarded against India based on a pending petition to confirm an arbitration award" for $1.2 billion in Cairn Energy Plc and Cairn UK Holdings Limited, both of Scotland v. Air India Ltd., of India, at the U. S. District Court for the Southern District of New York.

Port Royal Reassurance Company SPC Ltd.: Directors

May 14, 2021 - Director Details for Port Royal Reassurance Company SPC Limited, obtained from the Cayman Islands General Registry on May 14th, 2021.

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.