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USA v. Natalino D'Amato: Indictment

November 25, 2020 - Criminal Indictment alleging money laundering regarding Petróleos de Venezuela SA, a.k.a. PDVSA, "the state-owned and state-controlled oil company of Venezuela" in USA v. Natalino D'Amato, described by the U.S. Department of Justice as a dual citizen of Venezuela and Italy who, inter alia, "owned and controlled a Nevis-based corporation called Kronos Enterprises Corp.", at the U. S. District Court for the Southern District of Florida.

British fraudster Martin Sampson sets up new group

October 30, 2020 - British fraudster Martin Sampson, who helped to perpetrate a £40 million-plus investment scam by the Privilege Wealth Group, is back in business with three new British companies, operating as Misil Group.

Altana Credit Opportunities Fund SPC et al v. Venezuela: Complaint

October 08, 2020 - Complaint alleging "a breach-of-contract action arising out of Venezuela's failure to pay principal, interest, or both, on a series of bonds" in Altana Credit Opportunities Fund SPC, Altana Credit Opportunities Fund 1 SP, and Altana Funds Ltd. Cayman, all of the Cayman Islands v. Bolivarian Republic of Venezuela at the U. S. District Court for the Southern District of New York.

USA v. Sargeant Marine Inc.: Plea Agreement

September 23, 2020 - Plea Agreement regarding alleged violations of the Foreign Corrupt Practices Act involving, inter alia, Asphalt Trading, of the Bahamas; Petróleo Brasileiro S.A., a.k.a. Petrobras, of Brazil; Petroleos de Venezuela S.A., a.k.a. PDVSA, of Brazil; Empresa Publica de Hidrocarburos del Ecuador, of Ecuador, and Daniel Sargeant in USA v. Sargeant Marine Inc., described as "an asphalt company" based in Boca Raton, Florida, at the U. S. District Court for the Eastern District of New York.

USA v. Sargeant Marine Inc.: Criminal Information

September 23, 2020 - Criminal Information alleging violations of the Foreign Corrupt Practices Act involving, inter alia, Asphalt Trading, of the Bahamas; Petróleo Brasileiro S.A., a.k.a. Petrobras, of Brazil; Petroleos de Venezuela S.A., a.k.a. PDVSA, of Brazil; Empresa Publica de Hidrocarburos del Ecuador, of Ecuador, and Daniel Sargeant in USA v. Sargeant Marine Inc., described as "an asphalt company" based in Boca Raton, Florida, at the U. S. District Court for the Eastern District of New York.

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.

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 ISLANDS  
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.