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Another red flag concerning Bahamas-based investment firm Touchstone Advisory

June 14, 2018 - Zachary Zanghi, the New York-based business partner of British investment advisor Benjamin Alderson, who was recently accused of securities fraud by the U.S. Securities and Exchange Commission, was himself involved in impropriety a few years ago for which he was fired by Citigroup, OffshoreAlert can reveal.

Bermuda rum producer Goslings sues CFO Trudie Ottolini for $572K in 'unauthorized transfers'

June 13, 2018 - Bermuda-based rum producing and exporting group Gosling Brothers has sued its Chief Financial Officer, Trudie Ottolini, for $572,789 that it claims she spent without authorization over a 21-day period in March.

deVere USA settles SEC fraud allegations for $8M

June 05, 2018 - Investment advisor deVere USA, Inc. has agreed to pay an $8 million civil money penalty and two former officers - Benjamin Alderson and Bradley Hamilton - have been sued over allegations by the U.S. SEC that they defrauded hundreds of clients, most of them U.S.-based British expatriates.

Hiscox Bermuda accuses CFO Yuval Abraham of $1.8M fraud

May 31, 2018 - London Stock Exchange-listed insurance group Hiscox has accused the recently-fired Chief Financial Officer of its Bermuda operations, Yuval Abraham, of misappropriating $1.8 million.

BVI attorney 'agrees to pay' $425K to settle failed Liberia asset recovery case

May 17, 2018 - British Virgin Islands-based asset recovery attorney Martin Kenney has agreed "in principle" to pay $425,000 to settle his U. S. liability to CIGNA Worldwide Insurance Company concerning a failed asset recovery attempt on behalf of businesspeople in war-torn Liberia, it was disclosed yesterday in a court filing in the United States.

Garrett Kelleher seeks to sue Deloitte & law firms over litigation funding liabilities

May 03, 2018 - Irish litigation funder Garrett Kelleher intends to sue Deloitte Ireland, four of its principals, and Deloitte Malta over "advice" concerning his $2.85 million investment in a Cayman Islands claim that led to an arrest warrant and estimated $12 million liability against him in the U.S. He is also exploring suing law firms in the U.S., U.K., and Cayman, including Walkers.

Guernsey's Steve Dewsnip involved in another dubious venture

April 30, 2018 - Guernsey-based businessman Steve Dewsnip, who was arrested last year as part of a fraud investigation into Providence Financial Group, is involved with another questionable venture, Connecticut-based Almas Nexus, whose CEO, Mark Nichols, has a history of indebtedness and corporate failure.

Brazil hotelier Alceu Antimo Vezozzo claims advisors stole $14M in offshore scheme

April 25, 2018 - A wealthy Brazilian family that owns the Bourbon Hotels & Resorts luxury hotel chain - headed by Alceu Antimo Vezozzo - has accused two investment advisors - Raquel Borges and Rita Ramoni - of using offshore structures in the Bahamas and BVI to steal virtually the entire $14 million of assets they were entrusted to manage.

Hedge fund accountant Rob Patraulea fights for license in Cayman

April 22, 2018 - Canadian hedge fund accountant Robert Patraulea, who has worked in Cayman since at least 2004, is appealing against a decision by the Council of the Cayman Islands Institute of Professional Accountants not to renew his license to practice.

Anglian Water takes steps to close Cayman holding firm due to UK political pressure

April 20, 2018 - As a result of political and regulatory pressure in the United Kingdom, British utilities group Anglian Water has taken steps to remove a Cayman Islands holding company from its corporate structure.

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Binary Options Update – What to expect in 2018
Joel Berg
The Exportation of the Binary Options Boiler Room Operations:     As 2017 draws to a close, so does the legal grey area in which binary options scams were used to operating. The decision by Israel’s parliament to outlaw binary options come January 2018 is having an affect already as the p