Fraud

CFTC v. Dwayne Golden et al: Complaint (‘$44M Crypto-Based Fraud’)

Complaint alleging a crypto-based investment fraud in Commodity Futures Trading Commission v. Dwayne Golden, Jatin Patel, described as a citizen and resident of India; Marquis Demarking Egerton, a.k.a. Mardy Eger, and Gregory Aggesen at the U. S. District Court for the Eastern District of New York.

SEC v. John Barksdale et al: Complaint (‘$124M Crypto-Based Fraud’)

Complaint alleging the defendants "raised at least $124 million from over 20,000 investors" in a crypto-based fraudulent scheme involving Ormeus Global SA, of Panama, and Ormeus Coin, of Hong Kong, in U. S. Securities and Exchange Commission v. John Barksdale, described as a citizen of the USA residing in Thailand, and his sister, JonAtina Barksdale, a.k.a. Tina Barksdale, described as a citizen of the USA residing in Hong Kong, at the U. S. District Court for the Southern District of New York.

Kayla Blacksher v. SafeMoon LLC et al: Class Action Complaint

Class Action Complaint alleging a cryptocurrency-based investment fraud in Kayla Blacksher v. SafeMoon LLC, SafeMoon US LLC, SafeMoon Connect LLC, Tano LLC, SafeMoon Ltd., of England; SafeMoon Protocol Ltd., of England; SafeMoon Media Group Ltd., of England; Braden John Karony, Jack Haines-Davies, of London, England; Ryan Arriaga, Shaun Witriol, Henry 'Hank' Wyatt, Thomas Smith, Kyle Nagy, Jake Paul, Nick Carter, DeAndre Cortez Way, Ben Phillips, Miles Parks McCollum, and Daniel M. Keem at the U. S. District Court for the Central District of California.

Broad Reach Capital LP et al v. Blackburn International Ltd. et al: Complaint ($500,000)

Complaint alleging fraud in Kevin Kent, as Receiver for Broad Reach Capital LP, Broad Reach Partners LLC, Bristol Advisors LLC, TA1 LLC, Investment Consulting LLC, and CV Investments LLC v. Ronald Hightower, Janet Hightower, Blackburn International Limited, of Nevis;, and Vestimenta Investments LLC at the U. S. District Court for the District of New Jersey.

Gulf Investment Corporation et al v. Port Link GP Ltd. et al: Complaint (‘$74M Fraud Claim’)

Writ of Summons and Statement of Claim alleging "a corrupt scheme to launder money or conceal corruption and fraud" in Gulf Investment Corporation, of Kuwait, and General Retirement and Social Insurance Authority, of Qatar v. Port Link GP Ltd., of the Cayman Islands; Mark Eric Williams, of Georgia, USA; Wellspring Capital Group Inc., of Georgia, USA; KGL Investment Company Asia, of the Cayman Islands; Apache Asia Limited, of Hong Kong; Apache Asia Limited, of Macao; Ronald Henry Ayliffe, of Singapore, and Elite First Investment Limited, of the British Virgin Islands, at the Grand Court of the Cayman Islands.

245 E. 19 Realty LLC v. 245 E. 19th Street Parking LLC et al: Complaint

Complaint alleging fraud in 245 E. 19 Realty LLC v. 245 E. 19th Street Parking LLC, Icon Parking Holdings LLC, HPS Investment Partners LLC, AP Mezzanine Partners II LP, Offshore Mezzanine Partners Master Fund II LP, of the Cayman Islands; Institutional Mezzanine Partners II Subsidiary LP, Jeffrey Fitts, and Scot French at the Supreme Court of the State of New York, County of New York.

The J. Paul Getty Trust v. Allianz SE et al: Complaint

Complaint "to recover the tens of millions of dollars in losses Getty suffered as a result of Allianz’s mismanagement of the Structured Alpha investment strategy" in The J. Paul Getty Trust, of California, described as "a private, nonprofit cultural and philanthropic institution dedicated to the presentation, conservation, and interpretation of the world’s artistic legacy" v. Allianz Global Investors U.S. LLC, of Delaware, and Allianz SE, of Germany, at the U. S. District Court for the Southern District of New York.

Netherlands: Ali Çakici et al

Application for the appointment of a Commissioner to collect evidence from Apple Inc. - pursuant to a request for judicial assistance from the Netherlands - for a criminal investigation into "Ali Çakici and others for false documents and fraud offenses".

Restore Advisory Intermediações Ltda. v. Admel Properties Inc.: Discovery Application (‘R$41M Debt’)

Application by Restore Advisory Intermediações Ltda. to take discovery from Admel Properties Inc., described as "a vehicle used by Mello outside of Brazil to conceal available funds that should have been directed to satisfy the Brazilian judgement against him", for use in legal proceedings in São Paulo, Brazil "to enforce a debt against the assets of Trendbank S.A. Banco de Fomento and its guarantor, Adolpho Mello", filed at the U. S. District Court for the Southern District of New York.

SEC v. Andrew Coldicutt: Complaint

Complaint alleging the defendant "participated in fraudulent scheme to create a sham public company and register an offering of its securities with the SEC, concealing from SEC filings the company's true control persons/promoters and source of funding, and his role as its securities attorney" in U. S. Securities and Exchange Commission v. Andrew Coldicutt, described as a citizen of Canada residing in San Diego, California, at the U. S. District Court for the Southern District of California.

Leif-Erik Hvide v. Holdun Family Office LLC et al: Complaint (State Court)

Complaint alleging fraud in Leif-Erik Hvide, described as "a U.S. citizen residing in Rio de Janeiro, Brazil" v. Holdun Family Office LLC, of Florida; Holt Financial Ltd., of the Bahamas; Holdun Family Office (Bahamas) Limited, of the Bahamas; Holt Accelerator LP, of Canada; HOLT Funds SPC, of the Cayman Islands; Brendan Holt Dunn, of the Bahamas; Margaret 'Maggie' Dunphy, of Montreal, Canada; Stuart Dunn, of Montreal, Canada; Jan Christopher Arp, of Montreal, Canada; Gordon Dempsey, of Toronto, Canada, and Michael A. Blank, described as a Florida-based attorney, at the Circuit Court of the Eleventh Judicial Circuit, in and for Miami Dade County, Florida.

USA v. Stephen Burton et al: Criminal Indictment (‘$99.4M Wine-Based Fraud’)

Criminal Indictment alleging a $99.4 million wine-based investment fraud involving Bordeaux Cellars Limited and Bordeaux Cellars London Ltd., of Hong Kong and England, respectively, USA v. Stephen Burton, a citizen of the United Kingdom, and James Wellesley at the U. S. District Court for the Eastern District of New York.

SEC v. Joseph Krigsfeld: Complaint

Complaint alleging failure to pay a fine of $160,000 for securities fraud involving, inter alia, Cayman Islands-domiciled Aberon Capital Master Fund, LP in U. S. Securities and Exchange Commission v. Joseph Krigsfeld at the U. S. District Court for the Southern District of New York.

USA v. Satish Kumbhani: Criminal Indictment

Criminal Indictment alleging a $2.4 billion investment fraud and money laundering scheme involving BitConnect, which "operated a cryptocurrency investment platform and touted its various investment programs through social media", in USA v. Satish Kurjibhai Kumbhani, described as a citizen of India, at the U. S. District Court for the Southern District of California.

Standmill SRO v. CanaFarma Hemp Products et al: Complaint

Complaint alleging "a massive fraudulent investment offering" in Standmill SRO, of Montenegro v. Vitaly Fargesen, of New Jersey; Igor Palatnik, of New Jersey, and CanaFarma Hemp Products Corp., described as a Canadian company whose shares were listed on stock exchanges in Canada and Germany, at the U. S. District Court for the Southern District of New York.

Lithuania: Igor Poliakov

Complaint for the extradition of Igor Poliakov from the USA to Lithuania to face allegations of "fraud involving high value property", filed at the U. S. District Court for the Eastern District of Pennsylvania.

Hotel Portfolio II UK Ltd. v. Andrew Ruhan et al: Judgment

Judgment in Hotel Portfolio II UK Limited (in Liquidation) and Elizabeth Alexandra Aird-Brown, as Liquidator of Hotel Portfolio II UK Limited v. Andrew Joseph Ruhan and Anthony Edward Stevens at the High Court of Justice for England and Wales. In a press release announcing the judgment, representatives of the claimants stated: "The Claimants successfully proved a complex fraud perpetrated by the Defendants which began in December 2004 and early 2005, by establishing that Andrew Ruhan, a director of the First Claimant, used Anthony Stevens and companies ostensibly associated with him (known as “Cambulo Group”) to act as his secret nominees and to masquerade as independent purchasers of three large hotels owned by HPII, located near Hyde Park in London."

CFTC v. Casper Mikkelsen: Judgment ($4.7M)

Final Judgment and Order imposing financial penalties totaling $4.7 million regarding "a fraudulent scheme to solicit and misappropriate money from over 100 individuals" in Commodity Futures Trading Commission v. Casper Mikkelsen, of Denmark, at the U. S. District Court for the Southern District of New York.

Ephraim Atwal v. Bitfinex: Complaint

Complaint for damages of $670,000 alleging conversion, breach of contract, unjust enrichment, and negligence involving the alleged theft of cryptocurrency known as EOS in Ephraim Atawl v. iFinex Inc. , BXNA Inc., and BFXWW Inc., all described as British Virgin Islands companies based in Hong Kong that operate "Bitfinex, an online platform for exchanging and trading cryptocurrency", at the U. S. District Court for the Western District of New York.

Nebahat Evyap İşbilen v. Standard Chartered Bank et al: Discovery Application (‘£40M Fraud’)

Application by Nebahat Evyap İşbilen, described as a 76-year-old "Turkish national resident in the United Kingdom", to take discovery from Standard Chartered Bank, Citigroup Inc. d.b.a. Citibank; Bank of New York Mellon Corporation, JP Morgan Chase Bank N.A., Goldman Sachs and Co., Bank of America N.A., Deutsche Bank A.G., Deutsche Bank Trust Company Americas, HSBC Bank, Société Générale, and M&T Bank Corporation for use in legal proceedings in England against entities in the British Virgin Islands, Cayman Islands, England, Jersey, in the Channel Islands, and United Arab Emirates regarding "a multinational fraud committed against her by Mr. Selman Turk", filed at the U. S. District Court for the Southern District of New York.
Stuart Brankin Profile

Circumference Group removes Stuart Brankin from website after $212M fraud allegation

Stuart Brankin appears to have left Cayman Islands corporate services provider Circumference FS after OffshoreAlert revealed allegations of fraud against one of their clients. All references to Brankin, including his name, photo, and profile, were removed from Circumference's website one day after we reported that Asia Momentum Fund, of which Brankin was a director and to which Circumference provided services, had been accused of swindling Malaysian citizens out of more than $212 million as part of a wider $4.5 billion fraud involving 1MDB.
James Velissaris

Investment manager James Velissaris indicted for securities fraud involving Cayman & US entities

Investment manager James Velissaris has been criminally indicted in New York for an alleged scheme involving entities in the Cayman Islands and United States in which assets were allegedly over-valued by more than $1 billion so he could receive "tens of millions of dollars" in fees and profits. Civil lawsuits were also filed against him by two US regulatory agencies and a Cayman investment fund, which brought a class action.

USA v. Diogo Coelho: First Superseding Indictment

First Superseding Indictment alleging fraud and identity theft involving "RaidForums", whose "website served as a platform where members could solicit for sale, sell, and purchase contraband," in USA v. Diogo Santos Coelho, described as a citizen and resident of Portugal, at the U. S. District Court for the Eastern District of Virginia.

Dominus Multi-Manager Fund Ltd. et al v. Infinity Q Capital Management LLC et al: Class Action Complaint

Class Action Complaint involving "one of the most egregious investment fund collapses in history wherein the Funds lost over 40% of their respective values after a forced liquidation by the SEC" in Schiavi + Company LLC, of Delaware, and Dominus Multi-Manager Fund Ltd., of the Cayman Islands v. Trust for Advised Portfolios, Infinity Q Capital Management LLC, Infinity Q Volatility Alpha Fund LP, Infinity Q Volatility Alpha Offshore Fund Ltd., of the Cayman Islands; Christopher E. Kashmerick, John C. Chrystal, Albert J. DiUlio, Harry E. Resis, Russell B. Simon, Steven J. Jensen, James Velissaris, Leonard Potter, Scott Lindell, Quasar Distributors LLC, U.S. Bancorp Fund Services LLC, EisnerAmper LLP, Bonderman Family Limited Partnership LP, and Infinity Q Management Equity LLC at the U. S. District Court for the Eastern District of New York.

CFTC v. James Velissaris: Complaint

Complaint alleging "a multimillion-dollar fraudulent valuation scheme to show false gains on hundreds of swaps held by two commodity pools managed by Infinity Q" in Commodity Futures Trading Commission v. James Robert Velissaris at the U. S. District Court for the Southern District of New York.

SEC v. James Velissaris: Complaint

Complaint alleging fraud in U. S. Securities and Exchange Commission v. James Velissaris at the U. S. District Court for the Southern District of New York.

USA v. James Velissaris: Criminal Indictment

Criminal Indictment alleging fraud involving Infinity Q Capital Management in USA v. James Velissaris at the U. S. District Court for the Southern District of New York.
Asia Momentum Fund

Cayman Fund ‘swindled Malaysian citizens out of $212M as part of 1MDB fraud’

A Cayman Islands fund allegedly swindled a British Virgin Islands investment vehicle whose ultimate investors were "citizens of Malaysia" out of more than $200 million as part of the 1MDB fraud, all while its directors, Stuart Brankin (pictured), Desmond Campbell, and Christine Godfrey, collectively received fees and expenses "totaling more than US$100,000", it has been claimed in a lawsuit.

Income Collecting 1-3 Months T-Bills Mutual Fund: Chapter 15 Petition (2022)

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Igal Wizman and Keiran Hutchison, as the Joint Official Liquidators of Income Collecting 1-3 Months T-Bills Mutual Fund, of the Cayman Islands, filed at the U. S. Bankruptcy Court for the Southern District of New York.

Bank Otkritie Financial Corporation et al v. Citibank et al: Discovery Application

Application by Bank Otkritie Financial Corporation PJSC, described as "one of Russia’s largest full-service commercial banks" that went into administration in 2017 and received "a USD $8 billion bail-out using public funds", and National Bank Trust PJSC, described as being "owned by the Otkritie Group", to take discovery from Citibank, N.A., Deutsche Bank Securities Inc., and Deutsche Bank Trust Company Americas for use in legal proceedings in England regarding "a complex fraudulent scheme" involving "prominent Russian businessman named Boris Mints, his family, and his affiliated entities", including British Virgin Islands-domiciled Coniston Management Limited, that allegedly caused a loss of $500 million, filed at the U. S. District Court for the Southern District of New York.

BlockFi Lending LLC: $50M Fine

Administrative Order by the U. S. Securities and Exchange Commission that it has imposed a fine of $50 million on BlockFi Lending LLC, a New Jersey-based crypto lender, for regulatory breaches, including "material misrepresentation" and operating as "an Unregistered Investment Company".

Atkins Investment Partnership et al v. Duff & Phelps: Complaint

Complaint "for aiding and abetting fraud, aiding and abetting breach of fiduciary duty and negligent misrepresentation against Duff & Phelps for enabling a massive fraud orchestrated by Brendan Ross through a $789 million private investment fund structure managed by Direct Lending Investments, LLC" in Atkins Investment Partnership et al v. Duff & Phelps at the U. S. District Court for the Southern District of New York.

SEC v. Robert Booth et al: Complaint

Complaint alleging that "more than $8 million" was swindled from "at least 140 investors" in investment scams sold from "foreign boiler rooms", including those in Cyprus, Panama, Philippines, and Thailand, in U. S. Securities and Exchange Commission v. Robert Lenard Booth, a.k.a. Trevor Nicholas; Daniel T. Wellcome, Jr., Michael D'Urso, Antonella Chiaramonte, Alyssa D'Urso, and Jay Garnock at the U. S. District Court for the Southern District of New York.

Cassaforte Ltd. v. Jhonalyn Jhoiey Ramirez: Complaint

Complaint alleging fraud in Cassaforte Ltd., described as a Cyprus-domiciled "mezzanine lender specializing in real estate investments that involve the significant rehabilitation of single-family residences in New York City and Los Angeles" v. Jhonalyn Jhoiey Ramirez at the U. S. Bankruptcy Court for the Central District of California.

USA v. Han Bing: Forfeiture Complaint

Forfeiture Complaint regarding an alleged "online romance" fraud in which the victim was swindled out of cryptocurrency worth $324,635 in USA v. Crypto at Binance in the name of Han Bing, filed at the the U. S. District Court for the Western District of North Carolina.

Lau Chun Shun v. Seahawk China Dynamic Fund: Winding Up Petition

Winding Up Petition alleging "dishonest and deliberately concealed acts" by Hao Liang, a.k.a. Henry Liang, including an allegation that he "attempted to secretly strip approximately US$19,997,219", in Lau Chun Shun, of Hong Kong v. Seahawk China Dynamic Fund at the Grand Court of the Cayman Islands.

Paymentology Ltd.: Public Censure

Decision Notice by the Dubai Financial Services Authority to publicly censure Paymentology Ltd., described as a British "payment technology solutions provider", for "disseminating misleading or deceptive information", specifically "by incorrectly claiming that it was licensed by the DFSA and had an office in the DIFC".