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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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ENRC v. Deloitte LLP: Discovery Application

December 12, 2019 - Application by Eurasian Natural Resources Corporation Limited, of England, to take discovery from Deloitte LLP for use in legal proceedings at the High Court of Justice of England and Wales against its former attorneys, Dechert LLP and David Neil Gerrard, for alleged misconduct, filed at the U. S. District Court for the Southern District of New York.

Muddy Waters Capital LLC v. Bank of America Corp. et al: Motion to Compel Discovery

December 10, 2019 - Motion to Compel Discovery from non-parties Bank of America Corporation and Merrill Lynch Professional Clearing Corporation in an attempt to identify alleged insider traders in "corporate bonds issued by French retail conglomerate Casino Guichard-Perrachon, S.A." for use in Muddy Waters Capital LLC v. John Does at the U. S. District Court for the Southern District of New York.

ENRC v. Glenn Simpson: Discovery Application

December 06, 2019 - Ex Parte Application by Eurasian Natural Resources Corporation Limited, of England, to conduct discovery from Glenn Simpson, of Fusion GPS, for use in legal proceedings at the High Court of Justice for England and Wales against Mark Hollingsworth for "breach of confidence", filed at the U. S. District Court for the District of Maryland.

Tesco Plc v. Templeton Investment Counsel LLC: Discovery Application

November 27, 2019 - Application by Tesco Plc, described as "an English publicly traded company and the United Kingdom’s largest supermarket company", to take discovery from Templeton Investment Counsel LLC for use in legal proceedings at the High Court of Justice for England and Wales, filed at the U. S. District Court for the Southern District of Florida.

Tesco Plc v. Franklin Mutual Advisers LLC: Discovery Application

November 22, 2019 - Application by Tesco Plc, described as "an English publicly traded company and the United Kingdom's largest supermarket company", to take discovery from non-party Franklin Mutual Advisers LLC for use in legal proceedings at the High Court of Justice for England and Wales "brought by 58 institutional investors" alleging fraud, filed at the U. S. District Court for the District of New Jersey.

US affiliate of Malta bank accused of massive fraud by SEC

November 21, 2019 - New York-based, Cayman Islands-administered investment adviser International Investment Group LLC, which is affiliated with Malta's IIG Bank, with both owned by a bankrupt fund in Curaçao, committed "a string of frauds to cover up tens of millions of dollars in losses", the SEC has alleged.

Stephen Merz v. Burford Capital (UK) Ltd. et al: Amended Class Action Complaint

November 20, 2019 - Amended Class Action Complaint for alleged securities fraud in Stephen Merz v. Burford Capital (UK) Limited, a litigation funding company domiciled in Guernsey, based in England; Peter Middleton, Burford's Chairman during the Class Period; Christopher Bogart, Burford's CEO; Jonathan Molot, Burford's Chief Investment Officer, and Charles Parkinson, a Burford Director, at the U. S. District Court for the Eastern District of New York.

Denmark's tax agency sues US pension plans that received $120M from 'tax refund fraud'

November 20, 2019 - Denmark's tax collection authority filed a complaint yesterday at federal court in New York against 14 U.S. pension plans and their advisers who allegedly received $120 million from a fraudulent tax refund scheme.

USA v. Panayiotis Kyriacou: Guilty Plea Letter

November 19, 2019 - Letter regarding travel from the United Kingdom to the USA, guilty plea, and bail conditions in USA v. Panayiotis Kyriacou, a.k.a. Peter Kyriacou, of England, at the U. S. District Court for the Eastern District of New York.

Yuri Rozhkov et al v. Larisa Markus et al: Complaint

November 19, 2019 - Complaint regarding "a massive $2 billion fraud to embezzle monies from the Bank [Vneshprombank Ltd.] and then hide the funds in foreign countries" in Yuri Vladimirovich Rozhkov, a citizen and resident of Russia, and The State Corporation Deposit Insurance Agency, of Russia, as Trustee and Foreign Representative of Foreign Economic Industrial Bank Limited, a.k.a. Vneshprombank Ltd. v. LARMAR Foundation, of Panama; Ilya Bykov, BG Atlantic, Inc., LM Realty 31B, LLC, LM Realty 31C, LLC, LM Realty 27D, LLC, LM Realty 24C, LLC, LM Realty 20A, LLC, LM Realty 18 West, LLC, LM Realty 10C, LLC, LM Realty 23H, LLC, LM Property Management LLC, Innovative Construction Group, Inc., First integrated Construction, Inc., and Larisa Ivanovna Markus, a citizen and resident of Russia, at the U. S. Bankruptcy 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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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.