Cyprus

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.

Techview Investments Ltd. et al v. Amstar Poland Property Fund I LP et al: Judgment

Judgment on motions to dismiss allegations of fraud and negligence in Techview Investments Limited, which was incorporated in the Bahamas and later moved to the British Virgin Islands, and Prime Overseas Investments and Enterprises Limited, of Cyprus v. Amstar Poland Property Fund I LP, Amstar Poland Property Fund I GP LP, Amstar Poland Fund I GP LP, all of the Cayman Islands; Amstar Global Partners Limited, of Bermuda, and Amstar Group LLC, a Delaware-domiciled, Colorado-based company, at the Superior Court of the State of Delaware, County of New Castle County.

Brian Kang et al v. Hybrid Trade Ltd. et al: Complaint

Complaint alleging theft, misappropriation, and securities fraud regarding the raising of $50 million "from investors based around the world, including within the United States" from the sale of "digital tokens" that were "neither registered with the United States Securities and Exchange Commission nor qualified for any exemption from registration with the SEC, thereby depriving investors of the benefit of the disclosures required by the federal securities laws" in Brian Kang, Skyblock LLC, Mid-Wilshire Consulting LLC, Prasad Hurra, David Kim, Blue Rock Group, Artemio Verduzo, David Kwon, and Young Jae Kwon v. Hybrid Trade Limited, described as operating from addresses in Hong Kong, Malta, and Singapore; Asia Digital Asset Exchange, described as operating from an address in Cyprus; Allysian Sciences, Apolo Ohno, a former Olympic speed skating champion; Rod Jao, Eugenio Pugliese, and Henry Liu at the U. S. District Court for the Central District of California.

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.

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.

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.

USA v. Anthony Stimler: Criminal Information

Criminal Information alleging conspiracy to violate the Foreign Corrupt Practices Act and money laundering regarding an alleged bribery scheme involving individuals and entities in or from the British Virgin Islands, Cyprus, Israel, Mexico, Nigeria, Spain, Switzerland, United Kingdom, and USA in USA v. Anthony Stimler, a citizen of the United Kingdom who worked as a trader, at the U. S. District Court for the Southern District of New York.

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.

Dorset Ltd. v. Trax Ltd.: Stop Notice

Stop Notice by Dorset Limited, of the Marshall Islands, regarding shares in Trax Ltd., of the Cayman Islands, registered to Panagiotis Triantafyllidis, filed at the Grand Court of the Cayman Islands.

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.

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.

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".

Atlas Capital Financial Services Ltd.: €160K Fine

Public Notice by the Cyprus Securities Exchange Commission that it has imposed a fine of €160,000 on Atlas Capital Financial Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Atlas Capital Financial Services Ltd. was incorporated in Cyprus on December 6th, 2007, is in the process of being struck off, to which an objection has been made and that its directors are Aleksandar Krtinic, of Serbia; Ljiljana Dragicevic, of Montenegro; Petar Gazivoda, of Cyprus; Dusko Knezevic, a citizen of Montenegro, and Zinon Ypsaridis.

Petar Gazivoda et al: Disqualifications

Public Notice by the Cyprus Securities Exchange Commission that it has temporarily disqualified Petar Gazivoda, of Cyprus; Dusko Knezevic, of Montenegro; Aleksandar Krtinic, of Serbia, and Ljiljana Dragicevic, of Montenegro, "from exercising professional activity related to the financial sector" for conduct regarding Cyprus-based investment firm Atlas Capital Financial Services Ltd.

Prior Capital Cy Ltd.: €100K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that "executive Board Members" Konstantin Yasnov, Vladimir Zalogin, and Ekaterina Zalogina have paid €100,000 to settle a regulatory investigation into Prior Capital Cy Ltd.

RSS Judgment Enforcement LLC v. Symbion Power Tanzania Ltd. et al: Complaint

Complaint to enforce "a foreign arbitral award ... in the amount of nearly $30 million" alleging fraud against "a New York based group of companies that are operated under the "Symbion Power" name who develop, build and operate power generation, transmission and distribution projects in the Middle East, Asia and Africa" in RSS Judgment Enforcement LLC, as the assignee of Rental Solutions and Services LLC v. Symbion Power Tanzania Ltd., of Tanzania; Symbion Power Holdings, LLC, of Delaware; Symbion Energy Holdings Limited, of Cyprus; Symbion Power, LLC, of Delaware; Symbion Power Africa, LLC, of Delaware; Symbion Power Services U.S., Inc., of Delaware; Paul Hinks, of New York; Richard Westbury, a.k.a. Richard Bethell, described as "a citizen of the United Kingdom", and R.W. Chelsea Holdings Ltd., of Cyprus, at the U. S. District Court for the Southern District of New York.

Olin Holdings Ltd. v. State of Libya: Notice of Removal

Notice of Removal, including a copy of the the petition to confirm an arbitration award, by the State of Libya in Olin Holdings Limited, of Cyprus v. State of Libya at the U. S. District Court for the Southern District of New York.

Helios Ventures FZE v. VistaJet US Inc. et al: Discovery Application

Application by Helios Ventures FZE, of Ajman, in the United Arab Emirates, to take discovery from VistaJet US Inc., Rhône Capital LLC, and Rhône Group LLC for use in "contemplated civil proceedings in the United Kingdom and Malta", filed at the U. S. District Court for the Southern District of New York.

TeleTrade-DJ International Consulting Ltd.: €120K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that TeleTrade-DJ International Consulting Ltd., whose website states that it operates as an investment firm and forex broker, has paid €120.000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that TeleTrade-DJ International Consulting Ltd. was incorporated in Cyprus on September 1st, 2010 and its directors are Nikolas Leventis, Inna Leonova, Giannakis Georgiou, and Giorgos Konstantinidis.

Tatiana Akhmedova v. Farkhad Akhmedov et al: Judgment

Judgment for hundreds of millions of dollars in favor of a "wife" who "has been the victim of a series of schemes designed to put every penny of the Husband's wealth beyond her reach" involving individuals, companies, and structures in Bermuda, Cyprus, Dubai, England, France, Isle of Man, Liechtenstein, Luxembourg, Panama, Russia, and Switzerland in Tatiana Akhmedova v. Farkhad Teimur Ogly Akhmedov, a citizen of Russia; Woodblade Limited, of Cyprus; Cotor Investment SA, of Panama; Qubo 1 Establishment, of Liechtenstein; Qubo 2 Establishment, of Liechtenstein; Straight Establishment, of Liechtenstein; Avenger Assets Corporation, of Panama; Counselor Trust Reg, of Liechtenstein, as Trustee of certain Trusts; Sobaldo Establishment, of Liechtenstein, as Trustee of certain Trusts; Temur Akhmedov, described as "a British citizen who lives in London", and Borderedge Limited, of Cyprus, at the High Court of Justice, for England and Wales.

Pavel Cherkashin v. GVA Capital Ltd. et al: Writ of Summons

Writ of Summons in Pavel Cherkashin, who appears to be based in San Francisco, California, USA, individually and on behalf of GVA Capital Ltd. v. GVA Capital Ltd., of the Cayman Islands, and Odrison Investments Limited, described as a Cyprus company "controlled by ... Magomed Musaev, a Russian national domiciled in the Russian Federation", at the Grand Court of the Cayman Islands.

DTEK Finance Plc: Chapter 15 Petition (2021)

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Johan Bastin, as the Foreign Representative of DTEK Finance Plc, of England, described as being part of a group that "operates the largest privately-owned energy business in Ukraine, as measured by metric tons of coal produced and net output of electricity", for use in legal proceedings in England, filed at the U. S. Bankruptcy Court for the Southern District of New York.

VPR Safe Financial Group Ltd.: €100K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that VPR Safe Financial Group Limited has paid €100,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that VPR Safe Financial Group Limited was incorporated in Cyprus on May 13th, 2013 and its directors are Kostas Leonida, Andreas Kolonas, Agamemnon Ioannides, Yael Kleinman, and George Skordis.

X Global Markets Ltd.: €50K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that X Global Markets Ltd. has paid €50,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that X Global Markets Ltd. was incorporated in Cyprus on August 8th, 2011 and its directors are Alexander Eliades, Stavros Petrakidis, Panagiotis Damianou, Ali Dbouk, Samir Dbouk, and Wael Dergham, while the LinkedIn profile of Hadi Zaarour describes him as X Global Markets' "Chief Operating Officer & Chief Compliance Officer & AML".

Malta v. Keith Schembri et al: Criminal Complaint

Criminal Complaint alleging corruption, fraud, and money laundering in Republic of Malta v. Alfio Schembri, Malcolm Scerri, Keith Schembri, who is a former chief of staff of former Malta Prime Minister Joseph Muscat; Robert Zammit, Kasco Holdings Limited, of Malta; Kasco Limited, of Malta; Kasco Engineering Company Limited, of Malta; GSV Co Limited, of Malta; Holdforth Limited, of Cyprus; Malmos Limited, of Gibraltar; It's Good Limited, of Malta; Colson Services Limited, of the British Virgin Islands; Selson Holding Corporation, of the British Virgin Islands; Tekhne Industrial Limited, of Malta; Berner Malta Limited, of Malta, and Thoughtzone Limited, of Malta, at Malta Magistrates Court.

Cyprus Trading Corporation Plc et al: Fines

Public Notice by the Cyprus Securities and Exchange Commission that it has imposed fines on Cyprus Trading Corporation Plc, Woolworth (Cyprus) Properties Plc, Ermes Department Stores Plc, KDM Shipping Public Ltd., Liberty Life Insurance Public Company Ltd., Aias Investment Public Ltd., Harvest Capital Management Public Ltd., Rolandos Enterprises Public Ltd., Regallia Holdings & Investments Public Ltd., Isxis Investment Public Ltd., Exelixi Investment Public Ltd., A.L. Prochoice Group Public Ltd., and CPI Holdings Public Ltd. for regulatory breaches.

Maxigrid Limited: €75K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that Maxigrid Limited has paid €75,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Maxigrid Limited, formerly known as AGM Markets Ltd., was incorporated in Cyprus on July 2nd, 2010 and its directors are Katerina Papanikolaou, Jekaterina Pedosa, and Roy Almagor, who appears to be a citizen of Israel.

Goldenburg Group Ltd.: €270K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that Goldenburg Group Limited has paid €270,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Goldenburg Group Ltd. was incorporated in Cyprus on January 7th, 2014 and its directors are Matej Homola, Antonis Christoforou, Antreas Sieritis, Christos Avgoustinos, Ivor Lehotan, and Marinos Charalampous.

Nicholas Petruzzi v. Qiwi Plc et al: Class Action Complaint

Class Action Complaint alleging fraud in Nicholas Petruzzi v. Qiwi Plc, described as a Cyprus company that "purports to operate electronic online payment systems primarily in Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally" in Boris Kim, Sergey Solonin, Alexander Karavaev, and Varvara Kiseleva at the U. S. District Court for the Eastern District of New York.

Techview Investments Ltd. et al v. Amstar Poland Property Fund I LP et al: Complaint

Complaint alleging fraud and negligence in Techview Investments Limited, which was incorporated in the Bahamas and then moved to the British Virgin Islands, and Prime Overseas Investments and Enterprises Limited, of Cyprus v. Amstar Poland Property Fund I LP, Amstar Poland Property Fund I GP LP, Amstar Poland Fund I GP LP, all of the Cayman Islands; Amstar Global Partners Limited, of Bermuda, and Amstar Group LLC, of Delaware, at the Superior Court of the State of Delaware, County of New Castle County.

USA v. Ihor Kolomoisky et al: Forfeiture Complaint

Forfeiture Complaint in USA v. Real Property Located at 55 Public Square, Cleveland, Ohio which is "traceable to an international conspiracy to launder money embezzled and fraudulently obtained from PrivatBank", described as "a Ukrainian financial institution", whose beneficial owners were identified as Ihor Kolomoisky and Gennadiy Boholiubov, filed at the U. S. District Court for the Southern District of Florida.

Real Exchange (REX) Ltd.: ‘No New Clients’ Order

Public Notice by the Malta Financial Services Authority that it was directed Real Exchange (REX) Limited "to cease the on-boarding of new clients with immediate effect". Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Real Exchange (REX) Limited was incorporated in Malta on September 3rd, 2018, its directors are Adriano Cefai, of Malta; Viktor Kochetov, and Alexander Yelsky, both citizens of Ukraine, and its sole shareholder is K-Worldwide Group 18 Ltd., which was incorporated in Malta on September 25th, 2019, whose directors are Adriano Cefai, Viktor Kochetov, and Alexander Yelsky, and whose shareholders are Kyrrex Holding Limited, of Cyprus; Peter's Lab Spolka z Ograniczona Odpowiedzialnoscia, of Poland; RV70 Holding Limited, of England; Adriano Cefai, Darko Perovic, of Marbella, Spain; Yermek Tursunov, of Kazakhstan, and Clarissa Zammit Maempel, of Malta. According to records maintained by the Cyprus Registrar of Companies, Kyrrex Holding Limited was incorporated on October 2nd, 2018 and its directors are Viktor Kochetov and Lazarus Ioannou. According to Companies House for England and Wales, RV70 Holding Limited was incorporated on November 20th, 2014 and its sole director and controlling person is Ruggero Venturini, described as a citizen of Italy residing in Malta. On the website of Real Exchange (REX) Limited at kyrrex.com, it is stated: "Founded in June 2016, Kyrrex is a digital wallet and professional platform where traders and consumers can trade in new digital assets - cryptocurrencies, such as Bitcoin, Ethereum, Ripple, EOS, Litecoin, Cardano, NEO, Monero and many others."

Jane Does v. Pornhub et al: Complaint

Complaint alleging sex trafficking in Jane Does v. MG Freesites Ltd., d.b.a. Pornhub, of Cyprus; MindGeek Sarl, of Montreal, Canada, and MindGeek USA Inc., of Delaware, all of which are part of a group "dedicated to producing, distributing, and monetizing pornography on the Internet", at the U. S. District Court for the Southern District of California.

Inter-M Traders Ltd. v. Sean Kelleher: Complaint

Complaint in Inter-M Traders Ltd., of Cyprus v. Sean Kelleher, described as a resident of Dubai, at the Superior Court for the State of California, for the County of Los Angeles.

Dale Ochakoff v. Qiwi Plc et al: Class Action Complaint

Class Action Complaint alleging fraud in Dale H. Ochakoff v. Qiwi Plc, described as a Cyprus company that "purports to operate electronic online payment systems primarily in the Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally"; Boris Kim, Sergey Solonin, Alexander Karavaev, and Varvara Kiseleva at the . S. District Court for the Eastern District of New York.

Hoch Capital Ltd.: €260K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that Hoch Capital Ltd. has paid €260,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Hoch Capital Ltd. was incorporated in Cyprus on September 7th, 2012 and its sole director is Hamza Javaid. On Hoch Capital's website at hochcapital.com, it is currently stated that: "This is to inform you that Hoch Capital Ltd decided to terminate its activities by voluntarily requesting the renouncement of its license as a Cyprus Investment Firm."

Maxiflex Ltd.: €370K Settlement

Public Announcement by the Cyprus Securities and Exchange Commission that Maxiflex Ltd. has paid €370,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Maxiflex Ltd., which trades as EuropeFX, was incorporated in Cyprus on December 6th, 2013 and its directors are Kith Tzon Ioakeim, Marios Oikonomidis, Roy Almagor, Giorgos Ioulianos, and Ioannis Papapetrou.

Insignia Cards Ltd.: €373K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €373.670 on Insignia Cards Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Insignia Cards Limited was incorporated on November 17th, 2011, its sole director is George Kesidy, a citizen of the United Kingdom, with an address in London, England; previous directors include Joseph Zammit Tabona and Charles Rapa, citizens of Malta who both resigned effective July 31st, 2020, and its shareholders are George Kesidy and Insignia Malta Holding Limited, which was incorporated in Malta on November 17th, 2011, whose directors are George Kesidy and Nada Tucakov, a citizen of Serbia with an address in London, England, and whose shareholders are George Kesidy and Insignia International Limited, which, according to the Cyprus Registrar of Companies, was incorporated in Cyprus on November 11th, 2011 and whose sole director is Irodotos Kasapis. The Malta Business Registry shows that PricewaterhouseCoopers resigned as auditor of Insignia Cards Limited effective October 28th, 2020.

Lake Holding & Finance S.A. v. UBS AG et al: Discovery Application

Application by Lake Holding & Finance S.A., described as a British Virgin Islands company beneficially owned by Vladimir Vasilyevich Melnichenko, of Russia, to take discovery from UBS AG, Societe Generale/SG Private Bank, Banque Lombard Odier & Cie AG, a.k.a. Lombard Odier Darier Hentsch & Cie; CIM Banque SA, Kookmin Bank (Korea), Credit Suisse, PJSC Sberbank, Bank of America N.A., Citibank, N.A., Merrill Lynch Capital Corporation, Union Bancaire Privee CBI-TDB, Geneva, and BSI SA, Lugano for use in legal proceedings in Cyprus, France, Monaco, Russia, and Switzerland regarding alleged fraud, filed at the U. S. District Court for the Southern District of New York.