A participant in a group that has received regulatory approval to purchase Bermuda Commercial Bank was sued by American Express two months ago over an allegedly unpaid credit card debt of $64,854 - the latest of several allegations of indebtedness against Logan Sugarman over the last 20 years.
The Malta Financial Services Authority has cancelled the investment license of AIS Capital Management Investment Fund SICAV PLC, whose directors are Briton Paul Chandler and American/Maltese Richard Wight.
A Delaware company controlled by the California-based head of Bermuda cryptocurrency firm Uulala, Oscar Garcia, is being sued for allegedly defaulting on an agreement to pay $700,000 to settle a lawsuit brought by minority shareholder Gustavo Lopez, who claimed that Garcia swindled him.
Bermuda-domiciled cryptocurrency firm Arbitrade Ltd. has filed a legal action in New York against Max Barber and his firm, SION Trading FZE, of Ras Al Khaimah, alleging fraud.
A "partially complete" luxury hotel and residences development on "prime real estate" in Bermuda whose principal beneficial owner is AIG CEO Brian Duperreault has gone into provisional liquidation owing at least $168 million to the local government.
Nigeria is seeking records from ten banks in the United States for a criminal investigation into an alleged $10 billion bribery and fraud scheme committed by a "shell entity" in the British Virgin Islands that was set up and operated by citizens of Ireland and the United Kingdom.
The Isle of Man Financial Services Authority has revoked the registration of South Korea-based Crypto Meca Ltd., which solicited investors' funds last year purportedly to finance the development of a virtual casino platform that has not been launched.
Police in Switzerland are investigating Stefano Billeter for allegedly embezzling $8.73 million from four clients while he worked for Banca Raiffeisen, in Lugano.
The newly-appointed Receiver of former Bahamas resident Peter Nygård's Canada-based clothing group has applied for Chapter 15 recognition of the Canadian insolvency proceedings in New York.
Loyal Bank, of Saint Vincent and the Grenadines, is suing Mastercard for allegedly causing its liquidation by terminating its license and keeping its $1.5 million deposit as a "termination fee" after the offshore bank was charged with money laundering in the U.S.
Russian businessman Oleg Tinkov has been arrested in London after being indicted for tax fraud in California for allegedly failing to disclose his $1 billion beneficial ownership of, and $199 million income from, a London Stock Exchange-listed online bank via three BVI companies when renouncing his U.S. citizenship in 2013.
Scotia International of Nevada, which claims to own gold worth billions of dollars as part of a cryptocurrency-based investment fraud by Bermuda/Canada-domiciled Arbitrade and Delaware-domiciled Dignity Holdings, is being sued for unpaid rent of $6,632 in Utah. It's the fifth lawsuit against the SION group over the last eight months.
A complaint alleging fraud has been filed in New York regarding a deal to sell purported "gold casts of President Nelson Mandela's hands" to the Bermuda/Canada-domiciled Arbitrade Group, whose cryptocurrency scam was exposed by OffshoreAlert last year.
A transcript of Briton David Rae's recent sentencing hearing for money laundering at federal court in New Jersey indicates that he lied to obtain leniency, that his lies went unchallenged by prosecutors, and the judge accepted them as fact.
Canadian Troy Hogg, who perpetrated a cryptocurrency scam via his Bermuda-domiciled Arbitrade group, is suing a Hong Kong-based Bitcoin exchange known as HitBTC, alleging it has failed to redeem C$1.18 million of Bitcoin he claims to own.
The Guernsey Financial Services Commission has imposed financial penalties totaling £203,000 and/or corporate bans regarding fund administrator Louvre Fund Services Limited and four of its directors, Kevin Gilligan, Charles Tracy, Derek Baudains, and Julian Lane.
Despite a recommended imprisonment range of 57 to 71 months under a plea agreement, British national David Rae was sentenced at federal court in New Jersey on Friday to "time served" and deported back to the United Kingdom for money laundering.
Two lawsuits alleging fraud and breach of contract regarding the movie industry in Hollywood have been filed in Los Angeles against Canadian Troy Hogg, whose scams include Bermuda cryptocurrency firm Arbitrade.
Corrupt Antiguan ex-regulator Leroy King admits receiving bribes of $500K from fraudster Allen Stanford
Corrupt ex-Antigua financial regulator Leroy King, 74, faces up to five years in prison in the US after admitting receiving over $500,000 in cash and tickets to two Super Bowls from $7 billion fraudster Allen Stanford in return for turning a blind eye to his activities and obstructing an investigation by the SEC
In a lawsuit by two investors, suspected Platinum Partners fraudster Mark Nordlicht has been accused of "hiding" tens of millions of dollars in a Cook Islands trust and other offshore structures to make himself "judgment proof" against claims from creditors.
US-based investigations and intelligence firm Diligence is suing its British recently-resigned CEO, Nicholas Day, for allegedly misappropriating its Swiss "subsidiary", part of a broader dispute between Diligence's majority owner, Cayman-domiciled Information Security Investment Co., and its senior management, comprising Day, in Geneva; Mike Baker, in New York, and Trefor Williams, in London.
A €12 million bond offering by British nationals Minette Coetzee, a.k.a. Minette Compson, and Paul Segal via their Symtomax Group for a purported medical cannabis production facility in Portugal is fraudulent, OffshoreAlert can reveal. The scheme involves entities and individuals in the BVI, Canada, Dubai, England, Gibraltar, Morocco, Netherlands, Panama, Portugal, Scotland, Spain, South Africa, and Switzerland.
Criminal and regulatory charges alleging fraud have been brought in New Jersey against Canadian Boaz Manor and Israeli attorney Edith Pardo regarding a $30 million Initial Coin Offering by BCT Inc. SEZC, of the Cayman Islands.
Nearly two years after their appointment and having run out of cash, the Joint Administrators of Britain's Privilege Wealth Plc have applied to wind up the company, which collapsed after its £40 million-plus investment fraud was exposed by OffshoreAlert.
US law firm Faegre Baker Daniels is being sued for legal malpractice for allegedly advising a cryptocurrency fund that "Crypto Assets are not securities", only for the Fund - controlled by Timothy Enneking - to be later targeted by the SEC, eventually paying $200,000 to settle an Enforcement Action.
In an application to take discovery from 12 US banks, a financial institution owned by six Arab nations claims that "hundreds of millions of dollars are missing" from a Cayman Islands investment fund that was set up to invest in "port-related assets around the world".
U.K. national David Rae, who was exposed by OffshoreAlert in 2012 for his role in a £100 million investment fraud by Cayman Islands-domiciled Axiom Legal Financing Fund, has pleaded guilty to money laundering in New Jersey regarding unrelated health care fraud schemes.
Two "whistleblowers" in India and England are suing the British, Dubai and New York operations of their former employer, Standard Chartered Bank, for allegedly retaliating against them for exposing "a highly sophisticated money laundering scheme on behalf of Iran".
Swiss regulator FINMA has announced that two unrelated firms - SASuisse Group GmbH and BrokerGroup AG - have been placed under regulatory supervision, effective December 17th.
The Swiss Financial Market Supervisory Authority has warned the public that Samuray Consulting AG - whose principal is Burhan Samuray, of Germany - is suspected of conducting unauthorized financial activity.
The Swiss Financial Market Supervisory Authority has warned the public that cryptocurrency exchange Lescovex Exchange SA - whose principal is Spaniard Vicent Nos Ripolles - is suspected of conducting unauthorized financial activity.
Switzerland-based HSBC Private Bank (Suisse) SA has agreed to pay $192 million and cooperate with tax investigations under a deferred prosecution agreement with the USA after being criminally charged with conspiracy to commit tax fraud.
The Malta Financial Services Authority has cancelled the registration of corporate services provider E&S Consultancy Limited for various regulatory breaches, including not being "fit and proper".
New York-based, Cayman Islands-administered investment adviser International Investment Group LLC, which is affiliated with Malta's IIG Bank, with both owned by a bankrupt fund in Curaçao, committed "a string of frauds to cover up tens of millions of dollars in losses", the SEC has alleged.
Denmark's tax collection authority filed a complaint yesterday at federal court in New York against 14 U.S. pension plans and their advisers who allegedly received $120 million from a fraudulent tax refund scheme.
A complaint for damages of $150M for alleged cryptocurrency futures trading fraud and the operation of an unlicensed money transmitting business has been filed against individuals and companies in Antigua, British Virgin Islands, Hong Kong, and the United States, including Alameda Research and FTX Trading.
Law enforcement and regulators in the US have taken action against Swiss cryptocurrency exchange First Global Credit, which is controlled by Britons Gavin Smith and Marcie Terman and now operates as PanXora, which claims to have affiliates in the Bahamas, Cayman Islands, Gibraltar, Singapore, and UK.
Briton Simon Hooper, who was exposed as a fraudster by OffshoreAlert four years ago, has been charged with fraud in England regarding his latest firms, Rationale Asset Management Plc and Rationale Investments Ltd.
Paul Bilzerian - who moved to the Caribbean after being jailed and fined $62 million for securities fraud in the United States - has been barred from representing his sons - Dan and Paul Bilzerian - in civil proceedings at Saint Kitts and Nevis High Court.
A 74-year-old U.S. citizen faces up to 18 months in prison for failing to report $1.4 million in income that he earned from an "offshore Swiss 'insurance wrapper' policy".
Miami-based self-described "financial crime consultant" Kenneth Rijock "falsely" accused Israeli attorney Steven Slom of involvement in serious financial crime, a Florida judge has determined.
Cayman Islands financial advisory Outcrop Capital, which is owned by a former resident of Russia now living in Israel, claims to have been swindled out of bonds with a nominal value of €79.8 million in a "security token" deal with Russian-controlled, Cayman firm Versatile Chain.
A Cayman Islands affiliate of Canadian blockchain and communication technology firm Skrumble Technologies is being sued in Cayman over alleged unpaid fees owed to the operator of a special economic zone for innovators and entrepreneurs.
BVI operator of Bitfinex crypto exchange seeks discovery in ‘hunt for missing $880M of client funds’
The BVI operator of Bitfinex cryptocurrency exchange, which was sued 12 days earlier for allegedly perpetrating a multi-billion dollar fraud, has applied to take discovery in California for a purported attempt to recover $880 million of client funds that its Swiss payments processor has allegedly failed to remit.
Former UK "military personnel" were persuaded to transfer their government pensions to Guernsey-based Marlborough Pension Trustees, which then invested their assets in unsuitable "high-risk investments" that failed and distributed false net asset values that concealed losses, a regulator has claimed.
After seven years of defending litigation, law firm Greenberg Traurig has agreed to pay $65 million to settle a complaint that it helped fraudster Allen Stanford's offshore bank swindle thousands of investors out of $7 billion.
Insolvent Cayman Islands online discount broker OneTRADEx Ltd. allegedly illegally received $851,396 in "commissions and profit sharing" by borrowing cash from U.S. lender Stockloan Solutions using a client's assets as security without the client's "knowledge or authorization".
Defunct Panama law firm Mossack Fonseca and its founders - Jürgen Mossack and Ramón Fonseca - have filed a defamation complaint against Netflix in the US, alleging that the recently-released movie 'The Laundromat' portrays them as "ruthless uncaring lawyers who are involved in money laundering, tax evasion, bribery and/or other criminal conduct".
Following his arrest for allegedly violently assaulting his wife at a Miami Beach hotel, British investment funds lawyer David Marshall is no longer employed by Cayman Islands-based Maples Group, of which he was a partner.
Isle of Man’s Montpelier Trust in receivership after boss accused of diverting ‘millions of pounds’ of client funds
Following a regulator's allegation that its principal, Watkin Gittins, has diverted "millions of pounds" of client money to fund his lifestyle, Isle of Man-based Montpelier (Trust & Corporate) Services Ltd. has been forced into receivership.