In a judgment at Bermuda Supreme Court, Australian barrister Evatt Tamine has been ordered to repay nearly $30 million that he allegedly misappropriated from a Bermuda trust he administered on behalf of U.S. businessman Robert Brockman, who was criminally indicted at federal court in California in 2020 for an alleged $2 billion offshore tax fraud scheme.
IRS accuses Florida insurance executives of ‘non-compliance’ with investigation into offshore captives
The "corporate officers" of Florida-based health insurance agency Insurance Care Direct - Edward Carriero, Seth Cohen, and Brad Cohen - have been accused of failing to "fully comply" with an IRS tax investigation into its "potentially abusive" relationship with two affiliated Nevis-licensed captive insurers, ICD Captive Re and HOO Captive Re.
Ex-wife of alleged $200M fraudster Florian Homm seeks evidence from NY law firm for Liechtenstein money laundering investigation
Florida resident Susan Devine, the 60-year-old former wife of German accused fraudster Florian Homm, has applied for evidence from New York law firm Spears & Imes for use in criminal proceedings in Liechtenstein, where she is being investigated on suspicion of laundering some of the proceeds of Homm's alleged $200 million Cayman Islands investment scam.
Former BVI Premier Andrew Fahie criminally indicted for alleged drugs trafficking and money laundering
Twelve days after being arrested, recently-deposed British Virgin Islands Premier Andrew Fahie and co-defendants Oleanvine Maynard and Kadeem Maynard have been criminally indicted at federal court in Miami for alleged narcotics trafficking and money laundering.
‘Not my first rodeo’ – BVI Premier Andrew Fahie admitted to ’15-20 years of criminal activity’, says U.S.
British Virgin Islands Premier Andrew Fahie is a serial drugs offender who claimed in a secretly-recorded conversation to have been "stiffed" out of over $7 million by his criminal business partners over two decades, U.S. prosecutors alleged in a motion for the pre-trial detention of Fahie and Oleanvine Maynard that was filed at federal court in Miami, where they and Maynard's son, Kadeem Maynard, have been charged with cocaine trafficking and money laundering.
The Conyers legal and corporate services group, which is one of the offshore industry's biggest professional service providers, has been fined $2.1 million by the Bermuda Monetary Authority for failure to comply with anti-money laundering regulations and legal "obligations".
BVI Premier Andrew Fahie requests ‘immediate release’ from US detention, citing ‘head-of-state immunity’
British Virgin Islands Premier Andrew Fahie, who has been criminally charged with narcotics trafficking and money laundering in the United States, has asked a Florida judge to release him from custody, citing "immunity" as the "sitting head of government of the Virgin Islands".
British Virgin Islands Premier Andrew Fahie, 51, and Managing Director of the BVI Ports Authority Oleanvine Maynard, 60, have been arrested in Miami after being criminally charged with cocaine trafficking and money laundering at federal court.
Estonia seeks evidence from US crypto wallet firm for fraud investigation into bankrupt crowdfunder Envestio & ex-CEO Anton Kaletin
A court in Estonia is seeking evidence from a crypto wallet provider in the United States for a fraud investigation into bankrupt crowdfunding platform Envestio SI OÜ, which allegedly stole investors' funds before being declared bankrupt on June 3rd, 2020, and its former CEO, Anton Kaletin.
Mexico’s electricity utility seeks evidence in Texas for criminal investigation into suspected corruption
A U.S. subsidiary of Mexico's state-owned electric utility is seeking evidence from a company in Texas for use in a criminal proceeding against former "public servants" Javier Gutierrez and Guillermo Turrent for alleged corruption regarding contracts totaling "hundreds of millions of dollars".
Scottish firm Symtomax SPV Limited, which conducted a fraudulent €12 million bond offering purportedly to fund a cannabis production facility in Portugal, is facing compulsory strike-off action for failing to meet a statutory filing deadline.
Sixteen individuals and one company have been charged with securities fraud in New York regarding 'multiple schemes' that allegedly swindled more than $100 million from investors around the world. Those charged are from or operated in many onshore and offshore countries, including Antigua and Barbuda, Bahamas, Belize, British Virgin Islands, Bulgaria, Canada, Cayman Islands, Chile, Croatia, Denmark, France, Germany, Hungary, Italy, Monaco, Spain, Switzerland, Turkey, United Kingdom, and United States.
Eight months after Cayman Islands judge Raj Parker allowed Obelisk Global Gold Focus Fund to continue operating even though it was insolvent, the Fund is being sued again, this time by another creditor - Hong Kong resident Eryi Xu - who claims she cannot redeem her $600,000 investment. The Fund's principals include Jazeb Jones, Winfield Sifton, and Matthew Ho.
The liquidators of three British Virgin Islands companies that were involved in the $8.5 billion 1MDB fraud have applied for recognition in Florida as they hunt for assets that were, among other ways, allegedly siphoned off via investment funds in the Cayman Islands and Curaçao.
A seemingly fraudulent British company that has raised £1.4 million from investors to 'clean up the world's oceans' has belatedly filed its annual accounts to stave off forced dissolution. Ocean Polymers Ltd. filed its 2021 accounts two months' late on April 1st - one day after OffshoreAlert asked the firm's principals about a compulsory strike-off action by the Registrar of Companies.
Ten years after his £120 million Cayman Islands-domiciled Axiom Legal Financing Fund fraud was exposed by OffshoreAlert, struck-off attorney Timothy Schools has gone on trial for fraud in England, along with another struck-off attorney, Richard Emmett, and a former financial advisor, David Kennedy, all of whom are British.
Offshore liquidators try to stop IRS from seizing assets linked with indicted ‘$2B tax fraudster’ Robert Brockman
In an attempt to prevent the IRS from seizing assets in the United States, liquidators in Bermuda and the Cayman Islands have applied for U.S. recognition of their liquidation of a Bermuda company - Point Investments Ltd. - that was allegedly part of a $2 billion offshore tax fraud scheme involving billionaire Robert Brockman, 80.
Madrid-based Swiss lawyer Dario Item, 49, who serves as Antigua and Barbuda's Ambassador to Spain, Liechtenstein, and Monaco, lied to Antigua's financial regulator when successfully applying for a bank license in 2018, apparently to conceal an investigation in Labuan that led to his corporate disqualification and the closure of his bank there the following year, OffshoreAlert can reveal.
Trump sues Clinton and intelligence industry participants alleging racketeering over ‘Russia Dossier’
Former U. S. President Donald Trump filed a racketeering complaint at federal court in Florida today against Hillary Clinton and several others, including intelligence industry participants in the U.S. and United Kingdom, for allegedly engaging in a "scheme" to "show an incriminating link" between him and Russia.
British Virgin Islands-domiciled Yukos Capital Limited yesterday filed a petition at federal court in Washington, D.C. to enforce a $5 billion arbitration award that was entered against Russia last year in Switzerland.
In a winding-up petition, Swiss investment manager Marc-André Pépin has been accused of "fraudulent misconduct and mismanagement" by Cayman Islands-domiciled SPI Investment Fund SPC, whose investors' funds have allegedly ended up in questionable arrangements with entities operated by Prudent Group, Dennis Klemming, and Jacob Gitman, all of Miami, Florida.
$60M ‘dishonest assistance’ lawsuit filed against Walkers law firm by Qatar investor in ‘fraudulent’ Port Fund
In a complaint that the Grand Court of the Cayman Islands concealed from the public for over two months, Walkers law firm in Dubai is being sued for at least $60 million in damages by a Qatar state-owned investor for allegedly providing "dishonest assistance" to a fraudulent investment fund known as Port Fund.
Investor Lau Chun Shun seeks to wind up Seahawk China Dynamic Fund, accuses manager Henry Liang of ‘dishonesty’
In a petition to wind up Cayman Islands-domiciled Seahawk China Dynamic Fund, 31-year-old investment manager Hao Liang, a.k.a. Henry Liang, has been accused of self-dealing and dishonesty by fellow Hong Kong resident Lau Chun Shun, who says he invested HK$191 million in the Fund.
Bahamas-based blockchain firm Delchain and four others, including Deltec Bank & Trust in the Bahamas and Suisse Finance in Switzerland, are being sued for $20 million in damages after the price of a digital token issued by fellow Bahamas firm Dreamr "crashed 93%" within three months of being listed on the Bittrex crypto exchange.
More than 20,000 investors were swindled out of "at least $124 million" in crypto-based investment and multi-level marketing scams known as 'Ormeus Coin' and 'Ormeus Global' that were operated by siblings John and Tina Barksdale and involved entities in Hong Kong and Panama, it has been alleged in criminal and regulatory actions.
Fraudster Richard Fagan ‘makes criminal complaint against OffshoreAlert in Dubai’, claims ‘psychological and moral harm’
British and Irish national Richard Fagan has filed a criminal defamation complaint against OffshoreAlert with Dubai Police nearly seven years after we first exposed him as an investment fraudster, according to his local lawyer, Nasser Al Awar, who is described on his law firm's website as "a retired Dubai Police brigadier".
A R$41 million creditor of Brazilian banker Adolpho Mello is seeking evidence from a New York company that he allegedly used to conceal his beneficial ownership of a 4,500 sq. ft. apartment near Central Park, in Manhattan, that was 'sold for $8.1 million in 2019'.
Britons Stephen Burton and James Wellesley indicted in US for ‘$99.4M Bordeaux Cellars wine-based fraud’
United Kingdom citizens Stephen Burton, 57, and James Wellesley, 55, have been criminally indicted for fraud and money laundering at federal court in New York for an alleged $99.4 million wine-based investment scam known as 'Bordeaux Cellars', which was the trading name for companies in England and Hong Kong.
One of the biggest copper and cobalt miners in the DR Congo - China-owned Tenke Fungurume - has been accused of transferring over $150 million from its Bank of America account in New York over the last month to avoid satisfying a $16.7 million arbitration award.
For the first time in over four years, the British Virgin Islands Financial Services Commission has published details of a fine against a licensed entity, a $20,000 penalty imposed on McNamara Corporate Services Ltd.
Gibraltar-based wealth manager Tourbillon Limited, which is operated by 56-year-old United Kingdom national Mark Crossley, is falsely claiming to be licensed in the jurisdiction, the local regulator has warned.
Elderly wife of jailed former Turkish MP seeks discovery for lawsuit alleging ‘£40M fraud involving offshore entities’
Nebahat Evyap İşbilen, described as the 76-year-old wife of an imprisoned former member of parliament in Turkey, is seeking discovery from 11 banks in New York for a civil lawsuit in London against entities in the British Virgin Islands, Cayman Islands, England, Jersey, and United Arab Emirates for an alleged £40 million-plus fraud.
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.
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.
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.
New York couple arrested for ‘conspiring to launder Bitcoin worth $4.5B stolen from BVI crypto exchange’
A New York couple - Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31 - have been arrested and charged in the United States with conspiring to launder Bitcoin now worth $4.5 billion that was allegedly stolen in a 2016 hack of the British Virgin Islands-owned cryptocurrency exchange known as Bitfinex.
US applies to forfeit funds seized from 754 accounts ‘set up for Chinese nationals by corrupt BoA employees’
The USA has filed a forfeiture complaint in California against seized funds in 754 accounts at Bank of America that were allegedly set up for non-resident aliens, mostly citizens of China, by corrupt bank employees who took bribes to circumvent anti-money laundering laws.
Twenty five years after OffshoreAlert exposed an estimated $1 billion fraud he oversaw with Goldman Sachs, 64-year-old British insurance boss Mark Cooke has been banned from Bermuda's insurance industry for his conduct regarding subsequent businesses whose owners have included entities in the British Virgin Islands, Cayman Islands, England, Guernsey, and USA.
Bermuda law firm Conyers Dill & Pearman is suing a now-defunct Bermuda-domiciled crypto client, Velocity Ledger Holdings Ltd., in New York for an alleged debt of $42,000.
Mongolia's former Prime Minister Sükhbaataryn Batbold, his son, Battushig Batbold, and entities in the British Virgin Islands, Hong Kong, Mongolia, South Korea, and Switzerland are being sued in the BVI for alleged corruption.
Mourant Ozannes law firm has applied to liquidate MultiBank FX International Corporation in the British Virgin Islands over alleged unpaid legal fees of $77,711. The alleged debtor is part of the MultiBank Group, which claims to have companies or offices in Australia, Austria, British Virgin Islands, Cayman Islands, China, Cyprus, Egypt, Germany, Hong Kong, Ireland, Kuwait, Malaysia, Mexico, Nigeria, Philippines, Spain, Turkey, USA, and Vietnam.
$2M creditor applies to wind up owner of Cayman’s Jimmy Buffett-inspired ‘Margaritaville Beach Resort’
A petition to wind up the owner of the now-defunct Jimmy Buffett-inspired Margaritaville Beach Resort in the Cayman Islands has been filed by local resident Jeremy Beck over a US$2 million debt.
SEC accuses Crowd Machine of ‘$33M crypto fraud’ involving entities in Australia, Cayman, South Africa & US
The Crowd Machine cryptocurrency group headed by Australian Craig Sproule "raised more than $33 million from hundreds of investors" in a "fraudulent and unregistered" scheme involving entities in Australia, Cayman Islands, South Africa, and United States, the U.S. Securities and Exchange Commission has alleged.
Dubai-based Australian sues Binance and others after ‘Bitcoin worth $80M was stolen in malware attack’
Dubai-based Australian Steven Kowalski is suing 11 individuals and companies in the Cayman Islands, Hong Kong, Russia, Singapore, and the United States after Bitcoin worth $80 million was allegedly stolen from him in "a sophisticated malware attack" and laundered through accounts at cryptocurrency exchanges Binance and Kraken.
For the second year running, the British arm of the self-described "world’s leading cryptocurrency-friendly online travel agency" in the Cayman Islands - which has raised at least £2.2 million from over 1,700 investors - faces strike off for failure to file its annual accounts.
Russian investigators seek records from 3 NY banks in hunt for assets of ‘multi-billion dollar bank fraudsters Dmitri and Alexei Ananyev’
Russia's National Bank Trust is seeking records from three New York banks as part of its attempt to recover the proceeds of "a multi-billion dollar banking fraud perpetrated by two brothers, Dmitri and Alexei Ananyev", who are allegedly linked with entities in several jurisdictions, including Belize, British Virgin Islands, Cayman Islands, Curaçao, Cyprus, Marshall Islands, and Seychelles.
Records sought from 7 New York banks in hunt for ‘billions of Rubles stolen by Russian ex-banker Anatoly Motylev’
The bankruptcy trustees of London-based Russian suspected fraudster Anatoly Motylev are seeking records from seven banks in New York as they hunt for the "billions of Rubles" he is accused of misappropriating from failed Russian banks and pension funds he once controlled.
Guernsey fiduciary Hansard kept ‘oligarch’s son’ as a client despite links to murder & corruption, says regulator
Guernsey-based corporate services provider Hansard Ltd. and five of its directors, including its chairman, Philip Blows, have been fined a total of £398,300 following an investigation in which the firm told its local regulator that 75% of its clients were "high-risk".
British Virgin Islands-based corporate services provider Vistra and accountant Indervir Basra, who works for the group in California, are being sued in the United States regarding audits of DC Solar, which collapsed after swindling investors out of an estimated $1 billion. The audits were allegedly conducted by a group that Vistra acquired just seven months before DC Solar's headquarters was raided by the FBI in December, 2018.
As part of what its lawyers claim "could become the largest international asset recovery effort of all time", Libya has applied to take discovery from eight major banks in its hunt for an estimated $100 billion allegedly misappropriated by former leader Muammar Gaddafi. The effort is being led by lawyers Oren Warshavsky, of BakerHostetler, and Warren Gluck, of Holland & Knight.