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Xavier Rault: Disqualification

January 18, 2021 - Public Notice by the Mauritius Financial Services Commission that it has disqualified Xavier Rault for regulatory breaches.

Delphine Evelyne Marcelle Brouard Rault: Disqualification

January 18, 2021 - Public Notice by the Mauritius Financial Services Commission that it has disqualified Delphine Evelyne Marcelle Brouard Rault for regulatory breaches.

Capricorn Finance: License Revocation

January 18, 2021 - Public Notice by the Mauritius Financial Services Commission that it has revoked the "Investment Adviser (Restricted) Licence" of Capricorn Finance for regulatory breaches,

Almagest Wealth Management SA: €150K Fine

January 15, 2021 - Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €150,000 on Almagest Wealth Management SA for regulatory breaches. Editor's Note: Research by OffshoreAlert showed that, in the Luxembourg Trade and Companies Register, the representatives of Almagest Wealth Management SA are identified as Olivier Assa, Philippe Donjon de Saint Martin, and Jihad Taleb, while the company's "Managing Partner" has been identified as Benjamin Benedetto in news articles.

Wireline, Inc.: $650K Fine

January 15, 2021 - Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $650,000 on Wireline, Inc., described as a Delaware-domiciled "early-stage project focused on the development of a decentralized, blockchain based platform", for an unregistered securities offering and alleged fraud involving, inter alia, Wireline Developer Fund Ltd., a.k.a. Wireline Development Fund, of the Cayman Islands. Editor's Note: Research by OffshoreAlert showed that, in the Cayman Islands General Registry, the directors of Wireline Developer Fund Ltd. are identified as Lucas Geiger and Rich Burdon.

Buzz Fit SEZC: Restoration Application

January 14, 2021 - Originating Application in the matter of Buzz Fit SEZC at the Grand Court of the Cayman Islands.

Winfred Wamai et al v. Industrial Bank of Korea: Complaint

January 14, 2021 - Complaint regarding "Iran's fraudulent conveyances" in Winfred Wairimu Wamai and 322 other "direct victims and surviving family members of the Embassy Bombings" in Tanzania and Kenya that "were carried out with the critical material support of the Iranian government" v. Industrial Bank of Korea, of South Korea, at the U. S. District Court for the Southern District of New York.

Saba Capital CEF Opportunities 1 Ltd. et al v. Nuveen Floating Rate Income Fund et al: Complaint

January 14, 2021 - Complaint in Saba Capital CEF Opportunities 1 Ltd., of the Cayman Islands, and Saba Capital Management LP, of Delaware v. Nuveen Floating Rate Income Fund, Nuveen Floating Rate Income Opportunity Fund, Nuveen Short Duration Credit Opportunities Fund, Nuveen Global High Income Fund, Nuveen Senior Income Fund, Terence J. Toth, Jack B. Evans, William C. Hunter, Albin F. Moschner, John K. Nelson, Judith M. Stockdale, Carole E. Stone, Margaret L. Wolff, Robert L. Young, and Matthew Thornton III at the U. S. District Court for the Southern District of New York.

Private Advisors Stable Value Master Fund, Ltd.: Restoration Application

January 13, 2021 - Originating Application in the matter of Private Advisors Stable Value Master Fund, Ltd. at the Grand Court of the Cayman Islands.

Private Advisors Stable Value Erisa Fund Ltd.: Restoration Application

January 13, 2021 - Originating Application in the matter of Private Advisors Stable Value Erisa Fund Ltd. at the Grand Court of the Cayman Islands.

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.