Fraud

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    Terry Neal tries to renege on sentencing deal

    Former offshore services provider Terry Neal and three co-defendants have had their sentencing delayed pending a review of a U. S. Supreme Court opinion that federal sentencing guidelines are unconstitutional.

    More lawsuits from Lancer Receiver as he seeks return of over $440 m

    OffshoreAlert has found two more civil lawsuits filed by the Receiver of Lancer Offshore and related parties against alleged recipients of money transfers from the failed hedge fund group.Last month, we reported that Marty Steinberg had filed a lawsuit on July 9, 2004 at the U. S. District Court for the Southern District of Florida against 26 defendants - mainly financial institutions - in which he sought more than $17 million.

    Criminal charges dropped against David Finzer

    A criminal indictment in the United States against offshore provider Raymond David Finzer has been dismissed more than four years after it was returned.The 33-count indictment for mail fraud, wire fraud, and money laundering was dismissed with prejudice on July 14, 2004 at the US District Court for the District of Utah, meaning it can never be re-filed.

    US taxpayer fined $5,000 per day for non-production of offshore trust records

    A United States court has imposed a $5,000 fine on a taxpayer for every day that he fails to turn over records of his Bahamas trust to the IRS.If John F. Eulich, of Dallas, Texas, has not produced them by September 15, 2004 - 30 days after the start of the penalties - the fine will be increased to $10,000 per day.

    Prominent offshore attorney in bitter dispute with ex-employee

    Attorney Denis Kleinfeld has become embroiled in bitter litigation with a former associate of Kleinfeld's United States-based law firm, which specializes in offshore asset protection and tax planning.No fewer than seven civil lawsuits were filed by one side against the other at Miami-Dade Circuit Court, in Florida, over five months this year.

    AlphaStar agrees to sell Realm National Insurance for $8 m

    AlphaStar Insurance Group, formerly Stirling Cooke, has reached an agreement to sell its subsidiary, Realm National Insurance Company, to an Atlanta-based company for $8 million.The proposed buyer is Flagship Holdings Inc., according to filings at the U. S. Bankruptcy Court for the Southern District of New York, where AlphaStar is in chapter 11 proceedings.

    UK litigation funding flops try again with new group called Strathmore

    Former insiders of two U. K. litigation funding scams that collapsed with combined losses of nearly $500 million are behind a recycled version of the same scheme, OffshoreAlert can reveal. The new business - operating under the brand name 'Strathmore' - encompasses companies in the Bahamas, Canada, the United Kingdom and Africa.

    Ukraine: Transprogress LLC

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Ukraine for alleged tax fraud involving Transprogress LLC.

    Panama: Oscar Gonzalez

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Oscar Gonzalez and others for alleged involvement in a scheme to produce and sell counterfeit election identification cards.

    Canada: Marvin Kenneth Singleton

    Complaint for the arrest of attorney Marvin Kenneth Singleton and extradition from the USA to Canada to face charges of theft and fraud while while acting as Executor and Trustee for the estates of John Alexander George and Haroldine Marguerite Copp.

    Brazil: Barcelona Tour Cambio e Turismo Ltda. et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Brazil into suspected fraud and money laundering by Antonio Oliveira Claramunt, Jose Diogo de Oliveira Campos, Silvio de Almeida e Souza, Altair Inacio de Lima, Marcelo Viana, Valdecir Geraldi, and Ussen Ali Chahime regarding Barcelona Tour Cambio e Turismo, Ltda.

    LOM and Scott Lines ordered to appear before US court

    Bermuda-based investment firm Lines Overseas Management Ltd. and its Managing Director, Scott Lines, have been ordered to appear before a United States court as part of a securities fraud investigation.The U. S. District Court for the District of Columbia issued an order on August 17, 2004 that they must attend a hearing that is scheduled to start at 9.45 a.m. on October 4.

    Poland: Gedania

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation into Marek Pawlowski for the alleged misuse of management responsibilities while serving as President of Gedania.

    Belize and Grenada targeted in new IRS action

    A Florida-based firm with client-banks in Belize and Grenada has been targeted in the latest court action in the United States as part of an IRS investigation into tax evasion using offshore structures.An order granting an IRS petition to serve a "John Doe" summons on TecniCard Inc., of Coral Way, Miami, was granted by the U. S. District Court for the Southern District of Florida on August 5, 2004.

    Switzerland: Maria Cecilia Rothermel Manzanera(2)

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Maria Cecilia Rothermel Manzanera for suspected fraud, forgery and embezzlement.

    Russia: Firma Vneshtorg JSC

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into suspected tax evasion by Firma Vneshtorg JSC.

    Switzerland: Jean and Greace Arhawi(2)

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Jean and Greace Arhawi for alleged forgery and money laundering.

    France: Philippe Mechali

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in France into Stephane Vives, Catherine Vives and John Zinguerlet for alleged investment fraud.

    France: Cholet-Dupont

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in France against unknown individuals on charges of forgery and fraud regarding an unauthorized request for the sale of various stocks held by a customer at financial services company Cholet-Dupont SA and transfer of the proceeds to an account held by another individual at China Trust Commercial Bank.

    Czech Republic seeks extradition of Viktor Kozeny from the Bahamas

    The Czech Republic is to seek the extradition of alleged fraudster Viktor Kozeny from the Bahamas.Kozeny, 40, who lives in the gated-community at Lyford Cay, near Nassau, is wanted on charges relating to a failed coupon privatization scheme in the early 1990s after the collapse of communism. 

    IRS receives permission to serve subpoena on First Data Corp.

    The world's largest processor of credit card payments has been ordered by a United States court to assist the IRS in its investigation into tax evasion using offshore accounts.First Data Corp. must turn over information about transactions by holders of American Express, Visa and MasterCard credit cards that were issued by or on behalf of certain offshore financial institutions.

    Panama: Zuhey Janett Ceballos Amaya

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Zuhey Janett Ceballos Amaya for alleged fraud.

    Poland: Leszek Walczyk

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into suspected fraud regarding a securities offering by Poligrafia SpA.

    Banc Caribe Ltd.: Section 304 Petition

    Section 304 Petition for Assistance in Insolvency Proceedings in Dominica by Marcus Wide, as the Foreign Representative of Banc Caribe Ltd., at the U. S. Bankruptcy Court for the Southern District of Florida.

    Saddam’s Laundry: How western money managers ran the offshore network that bankrolled Iraq’s war machine

    Switzerland, Liechtenstein, Panama and the Bahamas were key elements in the offshore shell company and money-laundering schemes that bankrolled Saddam Hussein for more than 20 years.And Saddam used the same offshore money launderers as Osama bin Laden. His offshore network hid the money skimmed from government oil sales and collected in kickbacks. It was used to pay for Saddam's secret agents and security forces, reward domestic and foreign friends, and buy arms during international embargos. 

    Russia seeks evidence in Delaware for tax fraud investigation

    Article based on an application to collect evidence for a criminal investigation into suspected tax fraud - pursuant to a request for judicial assistance from Russia - that was filed at federal court in the USA on July 7, 2004. Individuals and businesses that are mentioned in the request for assistance include Orsk Custom House, AV Yakovlev, VB Radchenko, EV Dimaev, SI Sharanov, YF Medvedev, SP Savchenko, Amros-Orsk Ltd., Unsped AS, Uluslararasi Nakliyat ve Gumrikleme AS, Rostek Povolzhe, Old Garant Co. Ltd., RemZapChast Co. Ltd., Biznes sklad Co. Ltd., Keylok Co. Ltd., Reotreyd Co. Ltd., Eydans Co. Ltd., Arvaron Co. Ltd., Sanett Co. Ltd., Cortres Co. Ltd., Goldenstroy Co. Ltd., Elegantprofit Co. Ltd, Russtroyhous Co. Ltd., Patterson Systems Inc., Trevorton Trading Corp., and Sitel LLC.

    Poland requests evidence in Michigan for fraud investigation

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Poland - that was filed at federal court in the USA on June 29, 2004. Individuals and businesses mentioned in the request for assistance include Michal Mozgala, Krystyna Brozyna-Mozgala, Cyberheat, Inc., Bank of America, ICS, Inc., RJB Telcom, Inc., Norwest Bank Arizona NA, WebQuest, Inc., Wells Fargo Bank, Cybernet Ventures, Inc., Sanwa Bank, B.E.G. Inc., Keystone Community Bank, Tri-Tech Internet Services Inc., Spedia.com Inc., Citibank, Electrocash Inc., Innovative Ideas International, GoTo.com, Overture.com, Overture Services, Inc., Dixon James Productions Inc., and Key Bank NA.

    Mexico seeks evidence in Texas for investigation into investment fraud

    Article based on an application to collect evidence for a criminal investigation into suspected fraud - pursuant to a request for judicial assistance from Mexico - that was filed at federal court in the USA on June 25, 2004. Individuals and businesses mentioned in the request for assistance include Mauricio Andres Parra Flores, International Bank of Commerce, Alejandro Gerardo Salazar Ampudia, Comercializadora Map, Tyree International LC, and Debruce Grain Inc.

    Poland requests evidence in Delaware for investigation into credit card fraud

    Article based on an application to collect evidence for a criminal investigation into credit card fraud - pursuant to a request for judicial assistance from Poland - that was filed at federal court in the USA July 9, 2004. Individuals and businesses mentioned in the request for assistance include Marek Zapalski and First USA Bank.

    Poland seeks evidence in Delaware for investigation into credit card fraud

    Article based on an application to collect evidence for a criminal investigation into alleged credit card fraud - pursuant to a request for judicial assistance from Poland - that was filed at federal court int he USA on July 7, 2004. Individuals and businesses mentioned in the request for assistance include Krzysztof Janusz Oleszek, First USA Bank, Chase Manhattan Bank USA, Citibank South Dakota NA, Euro Kartensysteme EuroCard und Eurocheq, Direkt Bank Service GmbH, Foreningssparbanken AB BABS, Sebkort, Nordbankenkort, Europay Belgium SCRL, and Summitomo Mitsui Card Company Limited.

    Portugal seeks evidence in Texas for investigation into alleged fraud against Banco Espirito Santo

    Article based on an application to collect evidence for a criminal investigation into suspected fraud - pursuant to a request for judicial assistance from Portugal - that was filed at federal court in the USA on May 17, 2004. Individuals and businesses mentioned in the request for assistance include Hassan Raef Hamze, Skyport Computers, Hanna Car Hendles GmbH, Manuel Carvalho de Sousa, Elie Hanna, Efax.com, J2 Global Communications, KBC Bank, Banco Espirito Santo, Bank Fuer Tirol Und Vorarlberg, and Bank One.

    Venezuela seeks evidence from US banks for investigation into bank regulator

    Article based on an application to collect evidence for a criminal investigation into alleged fraud and corruption - pursuant to a request for judicial assistance from Venezuela - that was filed at federal court in the USA on June 30, 2004. Individuals and businesses mentioned in the request for assistance include Banco Capital CA, Jose Alejandro Roja Ramirez, Banco Espirito Santo, Espirito Santo Bank, Inversiones Westfalia, Inversiones NBK, CA, Servicios CA, Inversiones 23697 CA, Waterfield Investment Inc., Consorcio Partenon, CA, Westfalia Investments, Citibank, and Fleet Bank, NA.

    Netherlands seeks evidence of New York resident for fraud investigation

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from the Netherlands - that was filed at federal court in the USA on June 29, 2004. Individuals mentioned in the request for assistance include Balakrishnan Menon, and James Martino.

    Slovakia requests evidence in New York for fraud investigation

    Article based on an application to collect evidence for a criminal investigation into suspected fraud - pursuant to a request for judicial assistance from Slovakia - that was filed at federal court in the USA on July 8, 2004. Individuals and businesses mentioned in the request for assistance include B-Stavreal, Inc., Ronald Lawson, CFI Worldco Resources, Louis Genovese, and Roy Gusow.

    Czech Republic requests evidence in Florida for fraud investigation

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from the Czech Republic - that was filed at federal court in the USA on June 29, 2004. Individuals and businesses mentioned in the request for assistance include Alexandr Novak, Steve Seaward, RI Services Inc., AmSouth Bank, and SouthTrust Bank.

    Puritan International shareholder goes bust in United Kingdom

    Since our article in last month's newsletter, OffshoreAlert has uncovered more information about an offshore-domiciled, United Kingdom-based litigation funding company that casts further doubt about its credibility. One of the founding shareholders of British Virgin Islands-registered Puritan International Ltd., which is offering investors annual returns of 10.5 per cent in an unregistered offering, has gone bust.

    Accused fraudster fights extradition to Costa Rica

    A 39-year-old Nicaraguan citizen who is wanted for investment fraud in Costa Rica has been granted an order temporarily staying his extradition from the United States.Carlos Hermoso Mendoza, a.k.a. Carlos Cecilio Hermoso de Mendoza Vigil, a.k.a. Carlos Hermoso Vigil, had initially consented to extradition on June 25, 2004.

    Fortress Re insiders agree to settle for $400 m

    Fortress Re Inc. and its two principals, Maurice Sabbah and Kenneth Kornfeld, have reportedly agreed to settle a $1 billion arbitration award by giving up assets worth more than $400 million.The assets include "lavish homes, antiques, a Gulfstream III jet and other assets", according to a report in the Wall Street Journal on July 21, 2004.

    Lancer Receiver sues financial institutions for over $17 m

    The Receiver of the Lancer Offshore group has filed a lawsuit against 26 financial institutions and other firms in an attempt to recover more than $17 million of allegedly fraudulent transfers.Defendants include companies from Bahrain, Bermuda, Canada, the Cayman Islands, Guernsey, the Isle of Man, Luxembourg, Monaco, Switzerland, the United Kingdom, and the United States.

    Offshore credit-card holders await refunds as litigation drags on in the Bahamas

    A bitter legal dispute is taking place in the Bahamas over the refunding of millions of dollars to people who held offshore credit cards issued by Leadenhall Bank & Trust Ltd. Bahamas-based Leadenhall and First Financial Caribbean Trust Company Ltd., a licensed trust company in the Turks & Caicos Islands, each claims the other holds security deposits that are owed to card-holders. 

    Turkey: Merve Safa Kavakci et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Turkey into Merve Safa Kavakci, Durmus Perk and Sinan Eriklioglu for alleged forgery.

    Bolivia: Marcelo Levy Pacheco

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Bolivia into Marcelo Levy Pacheco for alleged check.

    Russia: Raduga LLC

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into Raduga LLC, Schteller LLC, Continent K LLC, YuSA-Secret LLC and YuSA-Lux LLC for alleged tax fraud.

    SEC v. Andrew J. Zahn et al: Complaint

    Complaint in U. S. Securities and Exchange Commission v. Andrew J. Zahn, Cynthia K. Berryman, and Philip J. Sexauer at the U. S. District Court for the Northern District of Illinois.

    India: Sharan Premi

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in India into alleged fraud by Ram Singh Batra, Apsara Iyengar and Baljit Singh regarding the will of Sharan Premi.

    Brazil: Rubens de Faria, Jr.

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Brazil into Rubens de Faria, Jr. for "crimes involving physical harm to other individuals and tax evasion, based on the facts provided that Rubens de Faria Jr. claimed to be possessed by the spirit of the late Dr. Fritz and tried to cure individuals of serious medical conditions in return for money."

    Panama investigates counterfeit ID card ring

    Panama has requested evidence in the United States as part of a criminal investigation into the alleged sale of counterfeit national identification cards. The cards, which, inter alia, allow holders to vote, were being sold for $250 each if they

    Offshore bank paid $3 m fraudulent preference before collapse

    The owner of a Hilton hotel in the Bahamas was the recipient of a $3 million fraudulent preference from a Bahamas-based offshore bank shortly before it collapsed, a court has ruled.Canadian national Ronald Hubert Kelly, a 60-year-old former Catholic priest and convicted pedophile, received the transfer from Americas International Bank on September 4, 2001.