Regulatory Agencies

JP Markets (Mauritius) Ltd.: License Revocation

Public Notice by the Mauritius Financial Services Commission that it has revoked the license of JP Markets (Mauritius) Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that JP Markets (Mauritius) Ltd. was incorporated on February 6th, 2020, that its directors are Justin George Paulsen and Kurt Anton Paulsen, and that it is managed by Toukan Corporate Services Limited. On the group's website at www.jpmarkets.co.za, it is claimed that "JP Markets is a global Forex powerhouse". The site is operated by South African firm JP Markets SA, which, according to records kept by the South African Companies and Intellectual Property Commission, was incorporated in South Africa on March 29th, 2016, went into in liquidation in 2020, and whose only current director is Justin Paulsen, 34, while Kurt Paulsen, 41, is a former director, both of whom are citizens of South Africa.

Helikon Investments Ltd.: $778K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $778,244 on Helikon Investments Ltd., described as a United Kingdom company that is registered with the U.K. Financial Conduct Authority, to settle allegations that it "sold short American depositary shares and then, within the rule's five-day restricted period, purchased ADSs of the same issuer in an offering, thereby violating Rule 105", profiting "by $669,002 from the transaction".

Centurion Administration Ltd.: £52K Settlement

Public Notice announcing that Centurion Administration Limited has agreed to pay £52,500 to settle a regulatory investigation by the Gibraltar Financial Services Commission.

Ronald Haller: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ronald P. Haller, 67, of Ontario, Canada, after. he pleaded guilty to fraud in Canada.

Roderick Caruana: €61K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €61,573 on Dr. Roderick Caruana for regulatory breaches.

Belight Capital Group Ltd.: License Revocation

Public Announcement by the Cyprus Securities and Exchange Commission that it has revoked the license of Belight Capital Group Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that the sole director of Belight Capital Group Ltd. was identified as Robert Ryan Porter.

D&V Pegasus Real Estate AIF VCIC Plc: License Revocation

Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the license of D&V Pegasus Real Estate AIF VCIC Plc. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that the directors of D&V Pegasus Real Estate AIF VCIC Plc were identified as Gunther Glatzel, Gunter Jurgen Vorbauer, and Andreas Dimitriou, while the company's website at pegasusfm.com identified its "Board of Directors" as "Gunter J Vorbauer - Chairman; Andreas Demetriou - Vice Chairman; Christos Vakis - Member; Dr. Gunther Glatzel - Member", "External Manager" as MFO Asset Management Ltd., "Depositary" as Eurobank Cyprus Ltd., "External Auditors" as KPMG Ltd., "Legal Advisor" as Clerides Anastassiou Neophytou LLC, and "Investment Advisors" as Planet Properties (London) Ltd. and PPM Valuations LLC.

Think Capital Ltd.: Public Warning

Public Warning by the Bermuda Monetary Authority against Think Capital Limited, part of the "ThinkMarkets group of companies", which "falsely claimed to have a licence issued by the Bermuda Monetary Authority" and which, when contacted by the BMA, claimed that "the statement was made in error and that, instead, it should have stated that it had been issued a licence by the Cayman Islands Monetary Authority". Editor's Note: On its website at www.thinkmarkets.com, ThinkMarkets claims to operate "a premium multi-asset online brokerage with headquarters in London and Melbourne and hubs in the Asia-Pacific, Middle East and North Africa, Europe and South America", and identifies group companies as: TF Global Markets Int Limited, of the Seychelles; TF Global Markets (UK) Limited, of England; TF Global Markets (Aust) Limited, of Australia; TF Global Markets (South Africa) (Pty) Ltd., of South Africa; Think Capital Limited, of Bermuda, and TFG (Payments) Limited, of England. Research by OffshoreAlert also discovered other group companies, including one in the Cayman Islands called TF Global Markets (International) Ltd., which is identified on CIMA's website as receiving a "Securities - Full" license on April 12th, 2021.

Huobi (Thailand) Co. Ltd.: License Revocation Proposal

Public Announcement by the Thailand Securities and Exchange Commission that its Board "has resolved to propose that Minister of Finance consider revocation of digital asset exchange license of Huobi (Thailand) Co., Ltd. (Huobi), currently named DSDAQ (Thailand) Co., Ltd." and ordered the company "to return all assets to its clients".

Pilatus Bank Plc: €4.9M Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €4.9 million on Pilatus Bank Plc for regulatory breaches.

Benjamin Berger: ‘Criminal Complaint’ Announcement

Public Notice by the Thailand Securities and Exchange Commission that it has brought a criminal complaint against Benjamin Berger, who appears to be based in California, for allegedly "selling the shares named Tian Tian Ventures" without the securities being registered.

Aux Cayes Fintech Co. Ltd.: Statement of Allegations

Statement of Allegations in the matter of Aux Cayes Fintech Co. Ltd., described as a Seychelles-domiciled operator of "an online crypto asset trading platform", for "violating Ontario securities law", before the Ontario Securities Commission.

Magna Group: Forced Liquidation

Press Release from the United Kingdom's Insolvency Service announcing that it "shut down" seven "mini-bond companies" that were part of Magna Group as a result of the "mis-selling of over £20m of loan notes".

Murchinson Ltd. et al: $9M Settlement

Administrative Order by the U. S. Securities and Exchange Commission stating that Murchinson Ltd., of Toronto, Canada; Marc Bistricer, and Paul Zogala, described as citizens and residents of Canada, have agreed to pay penalties totaling $9 million to settle a regulatory investigation that, inter alia, involved an unidentified Bermuda "hedge fund".

Pearson Plc: $1M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $1 million on Pearson Plc, described as a British publicly-listed "multinational educational publishing and services company", for "material misstatements and omissions regarding a 2018 cyber intrusion that affected several million rows of student data across 13,000 school, district, and university AIMSweb 1.0 customer accounts in the United States".

London Capital Group (Cyprus) Ltd.: €40K Fine

Public Notice by the Cyprus Securities and Exchange Commission that it has imposed a fine of €40,000 on London Capital Group (Cyprus) Limited for a regulatory breach. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that London Capital Group (Cyprus) Limited was incorporated in Cyprus on June 6th, 2016 and its sole director is Charles Henri Sabet.

Allianz Life Bermuda Ltd.: $1.7M Fine

Press Release by the Bermuda Monetary Authority announcing that it has imposed "civil penalties" totaling $1.7 million on Allianz Life Bermuda Limited for regulatory breaches, including the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, and that the company has agreed to go into liquidation. Editor's Note: Research by OffshoreAlert showed that, on the Allianz Group's website, the address for Allianz Life Bermuda Limited is given as "105, Allianz SNA Bldg 56, Jisr el Bacha Hazmieh Beirut, Lebanon P.O.Box: 16-6516".

FinCEN v. BitMEX et al: $100M Fine

Public Notice by FinCEN that it has imposed a fine of $100 million on HDR Global Trading Limited, of the Seychelles; 100x Holdings Limited, ABS Global Trading Limited, of Delaware; Shine Effort Inc. Limited, of Hong Kong, and HDR Global Services (Bermuda) Limited, of Bermuda, d.b.a. BitMEX, described as "a convertible virtual currency derivatives exchange".

Poloniex LLC: $10.3M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $10.3 million on Poloniex, LLC, of Delaware, for operating "a digital asset trading platform" without registering "as a national securities exchange".

AWS Malta Ltd.: €502K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it was imposed a fine of €502,046 on AWS Malta Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Registrar of Companies showed that AWS Malta Limited was incorporated in Malta on February 12th, 2014, its directors are Jean-Pie Gauci-Maistre, a citizen and resident of Malta; Kilian Kämpfen, a citizen and resident of Switzerland; Ivo Ferdinando Mathier, a citizen and resident of Switzerland; Mark Portelli, a citizen and resident of Malta, and Steve Zammit Cutajar, a citizen and resident of Malta; former directors include Francis Zammit Dimech, of Malta, who resigned effective February 28th, 2019; Herman Zandt, a citizen of the Netherlands residing in Malta, who resigned effective March 29th, 2017, and Nelson Lopez Centeno, a citizen of Spain, who resigned effective January 30th, 2017; and its shareholders are Ivo Ferdinando Mathier and AWS Switzerland SA, a Swiss company whose representatives include Ivo Mathier, chairman, and Kilian Kämpfen, while a former representative is Urs Füglistaller.

Tintra AIF VCIC Ltd.: License Revocation

Public Notice by the Cyprus Securities and Exchange Commission announcing that it has withdrawn the authorization of five "Investments Compartments" of Tintra AIF Variable Capital Investment Company Ltd., an Alternative Investment Fund, because "the minimum assets were not raised within the extended timeframe". Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Tintra AIF Variable Capital Investment Company Ltd. was incorporated in Cyprus on July 4th, 2016 and its sole director is Richard Shearer, of the United Kingdom.

DeFi Money Market et al: $13M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties on Blockchain Credit Partners, d.b.a. DeFi Money Market, of the Cayman Islands; Gregory Keough, and Derek Acree, both of Florida, for an alleged fraud that involved selling "more than $30 million of securities in unregistered offerings by using smart contracts and "decentralized finance" technology to sell digital tokens".

CYBERservices ASIA: License Revocation

Public Notice by the Mauritius Financial Services Commission that it has revoked the Payment Intermediary Services Licence of CYBERservices ASIA for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that CYBERservices ASIA was incorporated in Mauritius on June 7th, 2012 and its directors are Ritesh Kumar Bissessur and Jacques Wensley Caroopen.

Indication Investments Ltd.: License Suspension

Public Notice by the Cyprus Securities and Exchange Commission that it has suspended the license of Indication Investments Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Indication Investments Ltd. was incorporated in Cyprus on July 26th, 2011 and its directors are Thomas Xydas, Viacheslav Aleksandrovich Taran, Andrei Nikolaev, Alexey Trifonov, and Giorgos Stylianou.

Taysun Corporate Services Ltd.: License Revocation

Public Notice by the Mauritius Financial Services Commission that it has revoked "the Management License and the Approval to act as Captive Insurance Agent" of Taysun Corporate Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that Taysun Corporate Services Ltd. was incorporated in Mauritius on February 11th, 2010, its sole director is Sundara Rajen Sooben and its sole shareholder is Álvaro de Oliveira Madaleno Sobrinho, of Angola.

IDT Financial Services Ltd.: £298K Settlement

Public Notice by the Gibraltar Financial Services Commission that IDT Financial Services Limited has agreed to pay £298,387 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at Gibraltar's Companies House showed that the directors of IDT Financial Services Limited, as disclosed in its 2021 annual return, were Timothy Streatfeild-James, a citizen of the United Kingdom residing in Gibraltar; James Robert Raanan, a citizen and resident of Israel; Marcelo Fischer, a citizen and resident of the United States; Damian Asquez, a citizen of the United Kingdom residing in Gibraltar, and Gareth Meredith Williams, a citizen of the United Kingdom residing in Gibraltar.

Alkis Aloneftis: €1K Fine

Public Notice by the Cyprus Securities and Exchange Commission that it has imposed a fine of €1,000 on Alkis Aloneftis for a regulatory breach.

Coinschedule Ltd.: $201K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $201,688 on Blotics Ltd., formerly doing business as Coinschedule Ltd., described as a United Kingdom-domiciled company that "owned and operated a once-popular website platform, www.coinschedule.com, that publicized current and upcoming offerings for different digital tokens and was accessible in the United States from 2016 to August 2019", for promoting a security without disclosing that it received compensation for doing so.

Momentus Inc. et al: $8M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties of $8 million on Momentus Inc., Stable Road Acquisition Corp., SRC-NI Holdings LLC, and Brian Kabot for alleged securities fraud involving, inter alia, Mikhail Kokorich, described as "a Russian citizen residing in Switzerland".

Parallel Nominees Cyprus Ltd.: €70K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that Parallel Nominees Cyprus Limited has paid €70,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Parallel Nominees Cyprus Limited was incorporated in Cyprus on February 19th, 2013 and its directors are Anastasia Evripidou and Katina Papanikolaou.

Nicholas Cruz: Regulatory Settlement Agreement

News Release by the Gibraltar Financial Services Commission announcing it has entered into a "Regulatory Settlement Agreement" with Nicholas Cruz, who was a non-executive director of Enterprise Insurance Company Plc. "The GFSC has not made any adverse findings in relation to Mr Cruz's integrity," stated the regulator.

Nicholas Cruz & Gibraltar FSC: Joint Statement on Defamation Claim

Joint Statement by the Gibraltar Financial Services Commission and Nicholas Cruz regarding a defamation claim by Cruz against the GFSC regarding the regulator's news release on October 26th, 2016 regarding Enterprise Insurance Company Plc, of which Cruz was a non-executive director.

PLS, CPA et al: Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties on PLS, CPA, Chang G. Park, Joseph Yongyun Lee, and Juchi Lee, all accountants, for "improper professional conduct" involving, inter alia, Interactive Multi-Media Auction Corporation, described as "a British Virgin Islands corporation with its principal place of business in the United Kingdom" and "formerly headquartered in Hong Kong".

Depaho Ltd.: License Suspension

Public Notice by the Cyprus Securities and Exchange Commission announcing that it has suspended the license of Depaho Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Depaho Ltd. was incorporated in Cyprus on August 11th, 2011 and its directors are Hananel Levi, Charalampos Hatziokonomou, Aida Rizk, Petros Nakouzi, Neda Herodotou, and Marios Economou. On the company's website at www.depaho.eu, it is stated that Depaho Ltd. "operates under the brand names GTCM, FXGM and TradeApp" and, apart from Cyprus, "is also authorized by the South Africa Financial Sector Conduct Authority".

Rebels Gaming Ltd.: €500K Fine

Public Notice by Malta's Financial Intelligence Analysis Unit that it has imposed a fine of €500,017 on Rebels Gaming Limited, described as a "remote gaming operator", for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Rebels Gaming Limited was incorporated in Malta on January 26th, 2011, its directors are Yiorgos Metaxas and Grigorios Skornos, both citizens of Greece residing in Malta, and its shareholders are Grigorios Skornos and 15 Steps Limited, a Cyprus company whose sole director is Grigorios Skornos, according to the Cyprus Registrar of Companies.

Horus Malta Ltd.: License Cancellation

Public Notice by the Malta Financial Services Authority that it has cancelled the license of Horus Malta Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Horus Malta Limited was incorporated on September 14th, 2015, its sole director is Gilles Farrugia, described as a citizen of France residing in Switzerland, former directors include Xavier Rubio, who resigned effective June 1st, 2020; David Raphael Busuttil, who resigned effective April 16th, 2020; Thierry Leger, a citizen of France residing in London, England, who resigned effective November 6th, 2017, and Diandra Muscat, who resigned effective September 1st, 2017, and its sole shareholder is Horus Europe Holdings Limited, which was incorporated in Malta on September 10th, 2015, whose directors are Gilles Farrugia and Thierry Leger, and whose shareholders are 5G Limited, a Maltese company whose sole director and shareholder is Gilles Farrugia; Jeanval S.A.R.L., of Luxembourg; Salvino Busuttil, of Malta, and Michael Fornara, a citizen of the United Kingdom residing in France.

Capricorn Trustees Ltd.: €32K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €32,000 on Capricorn Trustees Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Capricorn Trustees Ltd. was incorporated in Malta on July 10th, 2012, its directors are Kevin Forrest, a citizen of the United Kingdom residing in South Africa, and Olivia Micallef, of Malta, and its sole shareholder is Guy William Edmunds, a citizen of Zimbabwe and the United Kingdom who "passed away" on June 15th, 2021.

Vasilios Theocharakis: €35K Fine Upheld By Court

Public Announcement by the Cyprus Securities and Exchange Commission that the Administrative Court upheld a decision by CySEC to impose a fine of €35,000 on Vasilios Theocharakis for a regulatory breach involving "the Cyprus Popular Bank Public Co. Ltd.'s investment in Greek Government Bonds".

Christos Stylianides: €430K Fine Upheld By Court

Public Announcement by the Cyprus Securities and Exchange Commission that the Administrative Court upheld a decision by CySEC to impose a fine of €430,000 on Christos Stylianides for regulatory breaches involving "the Cyprus Popular Bank Public Co. Ltd.'s investment in Greek Government Bonds".

BAO Asset Managers Ltd.: $19K Fine

Public Notice by the Mauritius Financial Services Commission that it has imposed a fine of US$19,571 on BAO Asset Managers Ltd. for breaches of "numerous statutory obligations". Editor's Note: Research by OffshoreAlert in the Mauritius Corporate and Business Registration Department showed that BAO Asset Management Ltd. was incorporated in Mauritius on December 15th, 2010, its directors are Shailendr Ramsagur, Achsah Conhyea, and Michael Cargill Southam, and its manager is Rockmills Financials Ltd.

3Sigma Riskcap SICAV Plc: License Cancellation

Public Notice by the Malta Financial Services Authority that it has cancelled the license of 3Sigma Riskcap SICAV Plc, described as an "Alternative Investment Fund Manager", for regulatory breaches: Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that F3Sigma Riskcap SICAV Plc was incorporated in Malta on February 4th, 2011, its sole director is Frank Pressler, a citizen and resident of Germany; its former directors include Joachim Lenz, of Germany, who resigned effective August 31st, 2016, and its shareholders are 3 Sigma Malta Holding Limited, which was struck off the Malta companies register on June 23rd, 2021; Sabine Bohm-Staudt, and Peter Gatti, both of Germany.

ProAurum Ltd.: License Cancellation

Public Notice by the Malta Financial Services Authority that it has cancelled the 'Alternative Investment Fund Manager' license of ProAurum Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that ProAurum Limited was incorporated in Malta on February 20th, 2007, its sole director is Jean Pierre Schumacher, a citizen and resident of Switzerland; former directors include Mark Busuttil and David Griscti, who both resigned effective July 31st, 2020, and Stephan Zimmermann, who resigned effective February 15th, 2016, and its shareholders are Jean Pierre Schumacher and ProAurum Holdings Limited, a Malta company whose sole director is Jean Pierre Schumacher and whose shareholders are Jean Pierre Schumacher and ProAurum Limited.

Daily Payment International Ltd.: €2.6K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,600 on Daily Payment International Limited for failure "to submit the Audited Financial Statements and the Auditors' Management Letter within the regulatory deadline". Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Daily Payment International Ltd. was incorporated in Malta on October 5th, 2017, its directors are Carol Peralta, a citizen and resident of Malta, and Jia Jun Yu, a citizen of the United States residing in Malta, former directors include Augusto Quintano, who resigned effective April 15th, 2021, and John Pollacco, who resigned effective March 3rd, 2020, and its sole shareholder is Europa Payment System Ltd., a Maltese company whose sole director is Jia Jun Yu, and whose shareholders are Jia Jun Yu and Shengang Ye, a citizen of Italy residing in Malta.

Em@ney Plc: €2K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,000 on Em@ney Plc for failure "to submit the Audited Financial Statements and the Auditors' Management Letter within the regulatory deadline".

Rosebery Management LLP: License Suspension

Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of Rosebery Management LLP. Editor's Note: A search by OffshoreAlert of the online database maintained by the Mauritius Corporate and Business Registration Department produced no hits for any legal entity with the word 'rosebery' in its name and no entity with that word in its name appears on the "Register of Licensees" on the website of the Mauritius FSC.

Finance House Plc: €1K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €1,000 on Finance House Plc, a lending institution, for failing to submit its audited financial statement. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Finance House Plc was incorporated in Malta on January 4th, 2013, its directors are Joseph Formosa, James Zammit, and Raymond Zammit, all of Malta, and its shareholders are James Zammit and Zammit Holdings Limited, a Maltese company whose sole director and shareholder is James Zammit.