Fraud

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    Marc Harris facing up to 19.5 years in prison

    The United States Probation Service has recommended that former offshore provider Marc Harris be sentenced to between 15.66 and 19.58 years in prison.The recommendation is contained in a Pre Sentence Investigation report that will be read by U. S. federal

    Global Prosperity Group principals charged with fraud

    A criminal complaint was brought against three principals of a long running scam known as Global Prosperity Group and the Institute of Global Prosperity at U. S. District Court for the Western District of Washington on May 4, 2004.Defendants are

    Mexico: Gustavo Ponce Melendez

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Mexico into Gustavo Ponce Melendez for alleged embezzlement and corruption while serving as Secretary of Finance for the Federal District Government.

    Switzerland: Jacques Bauer

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Jacques Bauer for alleged theft.

    Russia: Michael Ilyich Kogan

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into Michael Ilyich Kogan for suspected fraud.

    $23 m judgment entered in Sentinel Insurance suit

    A lawsuit in which the failed Bermuda-based Sentinel Insurance group had two corporate defendants has concluded in the United States with the entry of a $23 million judgment in favor of the plaintiff.The judgment was entered on March 10, 2004 at the U. S. District Court for the District of Massachusetts in favor of plaintiff MicroFinancial Inc., of Massachusetts, against Premier Holidays International Inc., of Atlanta, Georgia, and its president Daniel DelPiano.

    Ukraine seeks evidence from Delaware-based Sid Garnett 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 by the Ukraine - that was granted by the U. S. District Court for the District of Delaware on April 2, 2004. Individuals and businesses mentioned in the request for assistance include Volodymir Petrusin, Volodomyr Volodymyrovich Nesposudniy, Oleksiy Mykolayovich Nechypornko, Valeriy Vitaliyevich Berevan, Oksana Hryhorivna Hryschenko, Tamak private company, Fresco European LLC, and Sid Garnett.

    Slovakia seeks evidence from Bob Dole Enterprises for investigation into alleged fraud

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Slovakia - that was granted by the U. S. District Court for the District of Delaware on April 12, 2004. Individuals and businesses mentioned in the request for assistance include Vladimir Fruni, Frantisek Matik, Marian Sebescak, Anna Molcanova, Bob Dole Enterprises, Horizont Slovakia, BMG Invest, Verner, Liipfert, Bernhard, McPherson and Hand, Marshall Freeman Harris, US Preston (Europe) LLC, Galliards Developments LLC, Newbridge International Inc., First Euroinvest Company Ltd., and National Bank of Slovakia.

    Panama investigates US-based Tenneco Automotive Operating Company

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Panama - that was filed at the U. S. District Court for the Northern District of Illinois on April 23, 2004. Individuals and businesses mentioned in the request for assistance include Tenneco Automotive Operating Company, Saleh  Alneswan, Industrias Metalicas Asociadas, Harris Bank, and Banco Bilbao Vizcaya Argentaria.

    Evidence from Delaware-domiciled Autogold-Trade Company sought by Czech Republic for investigation into alleged embezzlement

    Article based on an application to collect evidence for a criminal investigation into alleged embezzlement - pursuant to a request for judicial assistance from the Czech Republic - that was granted by the U. S. District Court for the District of Delaware on March 9, 2004. Individuals and businesses mentioned in the complaint are Roman Bohm, Netcar LLC, Autogold-Trade Company, and VI Kavka.

    Russia seeks evidence from Delaware companies for investigation into alleged tax evasion

    Article based on an application to collect evidence into alleged fraud, tax evasion and money laundering - pursuant to a request for judicial assistance from Russia - that was granted by the U. S. District Court for the District of Delaware on April 1, 2004. Individuals and businesses mentioned in the request for assistance include Raduga LLC, Shteller LLC, a.k.a. Schteller LLC; Kontinent-K LLC, a.k.a. Continent K LLC; USA-Sekret LLC, a.k.a. YuSA-Secret LLC; USA-Luks LLC, a.k.a. YuSA-Lux LLC; Astoria Bancorp LC, Barberan Inc., Tong Cong Ty May & Phu Tung Vietnam National Machinery Import-Export Corporation, Mitabr Trading LLC, Kenton Business Corp., Home GmbH, Avtokar S, Stroyvax M, Svetlana Chukova, M. Schmitt, Maxim Gorodetsky, and Nair Shrileh Vishashvaran. 

    Ukraine seeks evidence in Delaware for investigation into alleged smuggling

    Article based on an application to collect evidence for a criminal investigation into alleged smuggling and customs duties fraud - pursuant to a request for judicial assistance from the Ukraine - that was granted by the U. S. District Court for the District of Delaware on February 18, 2004. Individuals and businesses mentioned in the request for assistance include Promtechmash Ltd., Inter Folia Sp z o.o,  D.R.D. Associates LLC, David Brechaut, and Parex Bank.

    Austria requests bank records for investigation into alleged day-trading fraud

    Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Austria - that was filed at the U. S. District Court for the Southern District of Texas on April 2, 2004. Individuals and businesses mentioned in the request for assistance include Oliver Pracherstorfer, Elke Reiter, Russel La Rue, Jens Wutzke, Peter Kuss, OPCM Ltd., Worldwide Formation and Management Ltd., and JPMorgan Chase Bank.

    PwC (Bermuda) sued again over Tyco audit

    A new lawsuit has been filed against PricewaterhouseCoopers (Bermuda) in connection with its auditing of scandal-plagued Tyco International Ltd., which is also registered on the island.The action was filed by Paul Manko and Shelley Evans, derivatively and on behalf of Tyco, at the Superior Court for Suffolk County, Massachusetts on February 12, 2004.

    Czech Republic investigate Florida resident for alleged tax fraud

    Article based on an application to collect evidence for a criminal investigation into alleged tax fraud - pursuant to a request for judicial assistance from the Czech Republic - that was granted at the U. S. District Court for the Middle District of Florida on April 27, 2004. Individuals and businesses mentioned in the request for assistance include Martin Valka, Mediatel, Sterkovny, and Adapta MPS.

    Switzerland seeks account information at Colonial Bank 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 by Switzerland - that was filed at the U. S. District Court for the District of Alabama on March 18, 2004. Individuals and businesses mentioned in the request for assistance include Maria Cecilia Rothermel-Manzanera, Dolores Nerlinger, Frederick Nerlinger, Colonial Bank, Grimaldi & Co., and Bexhill Ltd.

    Russia seeks information about Delaware-domiciled Amador Enterprises 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 Russia - that was granted by the U. S. District Court for the District of Delaware on April 8, 2004.Individuals and businesses mentioned in the request for assistance include Genadiy Dmitrievich Hort, Kompas Overseas Inc., E. Kalnin, Sergui Arbamowitz Belov, Amador Enterprises Inc., and Northern River Shipping Company.

    Lithuania seeks evidence in Oklahoma for investigation into alleged fraud

    Article based on an an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Lithuania - that was granted at the U. S. District Court for the Northern District of Oklahoma on March 29, 2004. Businesses and individuals mentioned in the request for assistance include Mazeikiu Nafta, James Scheel, Thomas Schneider, and Eugene Sticco.

    Ukraine investigates ex-bank president for fraud

    Article based on an application to collect evidence - pursuant to a request for judicial assistance from the Ukraine - that was granted by the U. S. District Court for the District of Delaware on April 12, 2004. Individuals and businesses mentioned in the request for assistance include I. M. Didenko, I. I. Rudenko, Gradobank, Viktor Yu Zherditsky, Y. Peine Protocol, Centurion Industrial Group Ltd., PMB Peine Mahl and Mischanlagen Boxberg GmbH & Co. KG, Association of People's Diplomacy of Ukraine, Von Krause & Partners Ltd., Astro Storm LLC, Khorda Ltd., Estro Kwinlend LLC, Banque Cantonale Vaudoise, Deutsche Verkehrs-Bank AG, Barclays Bank Plc, Parex Bank, and Ukrsozbank.

    Latvia seeks evidence in Delaware for investigation into alleged smuggling of military cargo to Iran

    Article based on an application application to collect evidence fro a criminal investigation into alleged smuggling and customs fraud - pursuant to a request for judicial assistance from Latvia - that was granted by the U. S. District Court for the District of Delaware on April 12, 2004. Individuals and businesses mentioned in the request for assistance include Carrion Ventures LLC, Torgovo promishlennaya kompaniya AKAMAC Ltd., Tyazpromelektroproekt St. Petersburg, Okima Enterprises Ltd., S.P.O., N. Nekrasov, L. Baltiyskaya, V. Ignatev, G. Kovalyuk, Dimitar Assenov Sabev, Miroslav Valeriev Todorov, Alexander Filippov, and Arvis Romanovskis.

    Turkey seeks evidence from Wisconsin resident suspected of car smuggling

    Article based on an application to collect evidence for a criminal investigation into alleged car smuggling - pursuant to a request for judicial assistance from Turkey - that was granted by the U. S. District Court for the Eastern District of Wisconsin on March 29, 2004. Individuals mentioned in the request for assistance include Bilgehan Aslan and Selahattin Soganci.

    Belarus seeks evidence in Arkansas for customs fraud investigation

    Article based on an application to collect evidence - pursuant to a request for judicial assistance from Belarus - that was filed at the U. S. District Court for the Western District of Arkansas on April 7, 2004. Individuals mentioned in the request for assistance include Oleg Eduardovich Gabrinevsky and Alexander Vladimirovich Minov.

    Citco Fund Services criticized again by Lancer Receiver

    Fund administrator Citco Fund Services is still "the most significant stumbling block" in the winding-up of the Lancer Group, it has been claimed.Auditor PricewaterhouseCoopers is also not being helpful, according to a report dated April 23, 2004 by SEC-appointed Receiver Marty Steinberg that was submitted to the federal court in Miami, Florida.

    Atlas Financial Group KPMG sued in TCI, another suit planned for U. S.

    Accounting firm KPMG is facing two multi-million dollar lawsuits over its involvement in a failed offshore investment group.The actions concern KPMG's provision of auditing and other services for the now-defunct, Turks & Caicos Islands-based Atlas Financial Group. 

    Russia: AN Lyashenko

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into AN Lyashenko, AT Stroganov, Serguei Podiouk, Pavel Smirnov, Maksim Varatsilin and Pavlo Gorbenko for alleged participation in a credit card fraud scheme.

    Offshore fraudster Serdar Kalaycioglu jailed for 27 years

    Former Canadian Space Agency engineer Serdar Kalaycioglu has been sentenced to 27 years in prison for his role in an offshore banking fraud. The sentence was delivered on April 26, 2004 by Judge Daniel Hurley at the U. S. District Court for the Southern District of Florida in West Palm Beach and is one of the longest ever handed down for an offshore-related scam.

    Slovak Republic: Vladimir Fruni et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Slovak Republic into Vladimir Fruni, Chairman of Horizont Slovakia JSC and an associate of B.M.G. Investment, LLC; Frantisek Matiik, Marian Sebescak and others for alleged fraud.

    Czech Republic: Martin Valka

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Czech Republic into Martin Valka for alleged tax fraud.

    Panama: Industrias Metalicas Asociadas SA

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation into allegations that a business called Industrias Metalicas Asociadas SA was a victim of fraud.

    Spain: Fernando Lopez

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Spain into Fernando Lopez and others for alleged bank fraud.

    Belgium: Didier Meimoun

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belgium into Didier Meimoun for alleged fraud.

    Matrix Investigations goes into liquidation

    A company secretly controlled by British fraudsters Lincoln Fraser and Jared Brook has gone into liquidation with an estimated net deficiency of £94,614 (approximately US$170,000). Matrix International (Management) Ltd., d.b.a. Matrix Investigations, went into creditors' voluntary liquidation by way of an extraordinary resolution passed by its shareholders on April 6, 2004 - nearly 19 months after being formed on September 17, 2002.

    Terry Neal agrees to turn in clients

    Terry Neal has become the latest United States-based offshore provider to turn in his clients to criminal prosecutors in return for a lenient sentence.Two months after shell bank promoter Jerome Schneider pleaded guilty to one count of conspiracy to defraud the U. S. government, Neal pleaded guilty to a similar charge yesterday at federal court in Oregon. Neal, who was based in Portland, Oregon and St. Kitts & Nevis, faces up to five years in prison and a maximum fine of $250,000 when he is sentenced on July 12, 2004.

    Cayman authorities seek testimony of Cash 4 Titles criminals

    The United States authorities have been asked to temporarily release four white-collar criminals from federal prisons so they can travel to the Cayman Islands to testify at a money laundering trial.They are Charles Richard Homa, 57; Michael Gause, 47; William Henry Black, 47; and James Albert Franklin, 36, who were all convicted of offenses involving a Ponzi scheme known as Cash 4 Titles.

    Belarus: Oleg Gabrinevsky et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belarus into suspected customs fraud, tax evasion and money laundering by Oleg Eduardovich Gabrinevsky and Alexander Vladimirovich Minov, as directors of Ryabushka LLC, and officials with the companies Euroopt, Eurotorg and Minsk Wine Plant.

    Cayman Islands: Lewis Rowe et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Cayman Islands into alleged money laundering by Lewis Rowe and Patrick Tibbetts regarding the Cash 4 Titles Ponzi scheme.

    Austria: Oliver Pracherstorfer et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Austria into Oliver Philipp Pracherstorfer, Elke Reiter, Russel La Rue, Jens Wutzke, Peter Kuss, OPCM Ltd. and others for alleged investment fraud based around day-trading.

    Russia: Genadiy Dmitrievich Khort

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into Genadiy Dmitrievich Khort for allegedly misappropriating funds belonging to Northern River Shipping Company.

    Insider Talking: March 31, 2004

    A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,

    John Hancock sued again over unpaid reinsurance

    In the latest fall out from the fraudulent practices of Bermuda based broker AlphaStar Stirling Cooke, a U. S. insurer is being sued for unpaid claims that may eventually total $60 million.John Hancock Financial Services Inc., of Boston, Massachusetts, is

    Dobbins Offshore accused of defrauding investors

    A hedge fund group registered in the United States and the British Virgin Islands has been accused of defrauding investors of millions of dollars.The allegations against the "Dobbins Group" were made in a lawsuit filed by the SEC at the