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

VENEZUELA

eMail Alerts  

Sign-Up for eMail Alerts

RSS Feed  

Subscribe to feed

USA v. 'PetroSaudi v. PDVSA' Arbitration Funds: Forfeiture Complaint

September 16, 2020 - Forfeiture Complaint regarding "assets involved in and traceable to an international conspiracy to, among other things, launder money misappropriated from 1Malaysia Development Berhad ("1MDB"), a strategic investment and development company wholly-owned by the government of Malaysia" in USA v. All Funds Held in Escrow by Clyde & Co. in the United Kingdom as Damages for Restitution in 'PetroSaudi Oil Services (Venezuela) Ltd. v. PDVSA Servicios S.A. et al' UNCITRAL Arbitration at the U. S. District Court for the Central District of California.

Trium Bank & Trust Ltd.: Chapter 15 Petition

September 02, 2020 - Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Antigua & Barbuda by Robert Wilkinson, of Grant Thornton, as the Foreign Representative of Trium Bank & Trust Limited, which had operations in Antigua and Venezuela, filed at the U. S. Bankruptcy Court for the Southern District of Florida.

USA v. Jose Luis de Jongh Atencio: Criminal Indictment

July 16, 2020 - Criminal Indictment alleging money laundering involving, inter alia, Petróleos de Venezuela SA, a.k.a. PDVSA; Citgo Petroleum Corporation, and bank accounts in Panama and Switzerland in USA v. Jose Luis de Jongh Atencio, described as a citizen of Venezuela and the United States, at the U. S. District Court for the Southern District of Texas.

Cimontubo - Tubagens e Soldadura Lda v. Petróleos de Venezuela SA et al: Notice of Removal

July 13, 2020 - Notice of Removal, including a copy of the complaint seeking damages of $38 million, in Cimontubo - Tubagens e Soldadura Lda, of Portugal v. Petróleos de Venezuela SA and PDVSA Petróleo SA, both of Venezuela, at the U. S. District Court for the Southern District of Florida.

CITGO Petroleum Corp. v. Petroleum Logistics Service Corp. et al: Complaint

May 26, 2020 - Complaint alleging "a conspiracy of illegal bribery and other criminal acts" regarding Petróleos de Venezuela SA in CITGO Petroleum Corporation, of Delaware v. Petroleum Logistics Service Corp., of Panama, and Jose Manuel Gonzalez Testino, described as "a dual United States and Venezuelan citizen", at the U. S. District Court for the Southern District of Texas.

PDV USA Inc. v. Interamerican Consulting Inc.: Complaint

May 13, 2020 - Complaint "to recover the $15 million (plus interest) it has already paid Defendant" in PDV USA Inc., a Delaware-domiciled subsidiary of Petróleos de Venezuela SA, a.k.a. PDVSA, a "state-owned oil and natural gas company of the Bolivarian Republic of Venezuela" v. Interamerican Consulting Inc., described as "a company incorporated in the State of Florida by former U.S. Congressman David Rivera", at the U. S. District Court for the Southern District of New York.

Tradiverse Corporation v. Luzar Trading SA: Petition to Vacate or Modify Award

April 30, 2020 - Petition to Vacate or Modify Arbitration Award of $755,821 alleging "the Award was procured by corruption, fraud or undue means" in Tradiverse Corporation v. Luzar Trading SA, a Venezuelan company based in Panama, at the U. S. District Court for the Southern District of New York.

USA v. Bank Hapoalim BM et al: Deferred Prosecution Agreement

April 30, 2020 - Deferred Prosecution Agreement regarding a scheme to launder the proceeds of bribery and corruption involving soccer's global governing body FIFA in USA v. Bank Hapoalim B.M., of Israel, and Hapoalim (Switzerland) Ltd., of Switzerland, at the U. S. District Court for the Southern District of New York.

Novoship (UK) Ltd. v. Harry Sergeant, Jr. et al: Discovery Application

April 30, 2020 - Ex Parte Application by Novoship (UK) Limited to take discovery from Harry Sargeant Jr., Harry Sargeant III, Daniel Sargeant, James Sargeant, Sargeant Marine Inc., International Oil Trading Company LLC, and Berger Singerman LLP for use in legal proceedings in England filed against Novoship (UK) Limited and others by Maroil Trading Inc. and Sea Pioneer Shipping Corporation, described as "entities beneficially owned and controlled by Venezuelan businessman Wilmer Ruperti", against Novoship (UK) Limited, Cally Shipholdings Inc., Vital Shipping Corporation, Dainford Navigation Inc., Tamara Shipholdings SA, and Tuscany Maritime SA, and by those defendants against Burford Capital (UK) Limited and Daniel Hall, filed at the U. S. District Court for the Southern District of Florida.

Verano Development Inc. v. Venezuela: Complaint

April 25, 2020 - Complaint alleging the default of debt in Verano Development Inc., a Florida company based in Panama v. the Bolivarian Republic of Venezuela 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.

View Recent Digests

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.