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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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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.

Hydro Marine Services, Inc.: Chapter 11 Petition

January 21, 2020 - Chapter 11 Petition by Hydro Marine Services, Inc., of Dubai, at the U. S. Bankruptcy Court for the Southern District of Texas.

Dundee Pikco Ltd.: Chapter 15 Petition

January 20, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England and Wales by Michael Thomas, of THM Partners, as the Foreign Representatives of Dundee Pikco Ltd., whose subsidiaries include those in the Cayman Islands and Dubai, at the U. S. Bankruptcy Court for the District of Delaware.

State of Qatar v. First Abu Dhabi Bank PJSC et al: First Amended Complaint

January 17, 2020 - First Amended Complaint alleging fraud regarding "brazen schemes to manipulate the markets of Qatari currency. bonds, and other financial instruments" that "arise out of an illicit blockade of Qatar by the Kingdom of Saudi Arabia, the United Arab Emirates, and the Kingdom of Bahrain, which seeks to isolate Qatar by land, air, and sea" in State of Qatar v. First Abu Dhabi Bank PJSC, of Abu Dhabi, and Samba Financial Group SJSC at the Supreme Court of the State of New York, County of New York.

Morgan Gatsby Ltd.: Corporate Information

January 08, 2020 - Corporate Information, including names of directors and shareholders, for Morgan Gatsby Limited obtained from the Dubai International Financial Centre.

Morgan Gatsby Ltd.: Fine

January 06, 2020 - Decision Notice by the Dubai Financial Services Authority announcing a fine against Morgan Gatsby Limited regarding the promotion of Essel Africa Natural Resource Fund, of Luxembourg, and other matters. Editor's Note: Research by OffshoreAlert showed that, according to the website of the Dubai International Financial Centre, Morgan Gatsby Limited went into liquidation on February 5th, 2019, that its directors are Gagan Jawahar Goyal, Shahzaad Siraj Dalal, and Ajay Rajinder Arora, and former directors include Pankaj Prem Gupta, Mazin Mohammad Mohyelddin Alkhatib, Farhan Abdulrahim Mohammed Faraidooni, Ahmad Abdulla Juma Binbyat, and George Zaki George Mushahwar.

Arab nations claim 'hundreds of millions of dollars are missing' from Cayman Islands fund

December 30, 2019 - In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".

August Carbera et al v. Black & Veatch Special Projects Corp. et al: Complaint

December 27, 2019 - Complaint alleging Violation of the Anti-Terrorism Act in August Carbera et al v. Black & Veatch Special Projects Corporation, described as a Delaware company based in Kansas; Centerra Group, LLC, described as a Delaware company based in Florida; DAI Global LLC, described as a Delaware company based in Maryland; Environmental Chemical Corporation, described as a Kentucky company based in California; G4S Holdings International (AG) Limited, described as a "wholly owned subsidiary of G4S Plc", of England; G4S Risk Management Limited, of England; Janus Global Operations LLC, described as a Delaware company based in Tennessee; Louis Berger Group, Inc., described as a Delaware company based in New Jersey; Louis Berger International, Inc., described as a Delaware company based in New Jersey; The Louis Berger Group, Inc./Black & Veatch Special Projects Corporation Joint Venture, based in Washington, DC; MTN Group Limited, described as "a South African telecommunications company whose stock trades publicly on the Johannesburg Stock Exchange"; MTN (Dubai) Limited, of Dubai, and MTN Afghanistan, of Afghanistan, at the U. S. District Court for the District of Columbia.

Jetex FZE v. Windsor Jet Management: Complaint

December 27, 2019 - Complaint alleging breach of contract in Jetex FZE, of Dubai v. Professional Flight Transport Inc., d.b.a. Windsor Jet Management, at the Circuit Court of the 17th Judicial Circuit, in and for Broward County, Florida.

Gulf Investment Corp. v. Bank of America et al: Discovery Application

December 26, 2019 - Application by Gulf Investment Corporation, of Kuwait, described as "a supranational financial institution owned equally by the six Gulf Cooperation Council states: The Kingdom of Bahrain; The State of Kuwait; The Sultanate of Oman; The State of Qatar; The Kingdom of Saudi Arabia; and The United Arab Emirates", to take discovery from Bank of America, NA, The Bank of New York Mellon, Citibank, NA, Deutsche Bank AG, New York Branch; Deutsche Bank Trust Company USA, Goldman Sachs and Co., HSBC Bank USA, NA, JPMorgan Chase Bank, NA, Mashreqbank PSC, New York Branch; National Australia Bank Limited, New York Branch; Standard Chartered Bank, New York Branch; and Wells Fargo Bank NA for use in "contemplated litigation in the Cayman Islands" regarding "hundreds of millions of dollars that have gone missing", filed at the U. S. District Court for the Southern 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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EXPOSED: Symtomax Group's fraudulent €12M Bond Offering
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.
LATEST ARTICLES & DOCUMENTS  
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.