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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.

WESTERN SAMOA

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Tempo Group Limited et al v. Fortuna Development Corporation et al: Ruling on Admissibility

September 10, 2014 - Ruling on Admissibility in Tempo Group Limited, Chen Ching Chih, and Maxima Resources Corporation v. Fortuna Development Corporation, New Frontier Development Corporation, Wynner Group Limited, Bates Group Limited, Steven Word Driscoll, and Lii San-Rong at the Grand Court of the Cayman Islands.

Tempo Group Limited v. Fortune East Asia Holding Corporation et al: Writ of Summons

July 10, 2012 - Writ of Summons in Tempo Group Limited, domiciled in the British Virgin Islands, v. Fortune East Asia Holding Corporation and Wynner Group Limited, both domiciled in the British Virgin Islands, at the Grand Court of the Cayman Islands.

Tempo Group Limited et al v. Fortuna Development Corporation et al: Statement of Claim

November 16, 2011 - Statement of Claim in Tempo Group Limited, Chen Ching Chih, and Maxima Resources Corporation v. Fortuna Development Corporation, New Frontier Development Corporation, Wynner Group Limited, Bates Group Limited, Steven Word Driscoll, and Lii San-Rong at the Grand Court of the Cayman Islands.

Forex 'trader' sues bankrupt firm for commissions on alleged profits

November 30, 2003 - An offshore company which collapsed with massive losses amid allegations of fraud is being sued by a purported forex trader who claims he is owed commissions for making it a profit.Igor Toshchakov, of Los Angeles, California, filed a lawsuit against Orion International LLC, of Western Samoa, and its President, Russell B. Cline, at the U. S. District Court for the Central District of California on August 14, 2003.

Unlicensed Genesis Fund collapses amid fraud allegations

October 31, 2002 - An ordinary IBC in Nevis that operates as an unlicensed mutual fund has collapsed owing an estimated $50 million to approximately 1,100 shareholders.Approximately $100 million is believed to have gone into The Genesis Fund Ltd. but about half of it was repaid as interest payments, according to a client's representative.

Insider Talking: March 31, 2001

March 31, 2001 - Former Bermuda insurance boss John McGarrity resurfaces in the Bahamas, Turks & Caicos Islands regulators issue warning about Petro Funds, Bahamas resident Yank Barry goes on trial in Texas, default judgment entered in U. S. against American International Bank (in receivership), Bahamas union boss negotiates for employees of Suisse Security Bank & Trust, a private letter from FIBG principal Van Brink hints at corrupt payments to influential individuals in Grenada.

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.