Luxembourg

European Depositary Bank SA: Reprimand

Public Notice by the Luxembourg CSSF that it has imposed a reprimand on European Depositary Bank S.A. "following the violation by the Bank of the CSSF's temporary prohibition of 5 March 2021 on the onboarding of new investment fund structures due to severe deficiencies in its organisation and governance".

Atos Luxembourg PSF SA: €18,750 Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €18,750 on Atos Luxembourg PSF S.A. "for defaults of prudential obligations related to administrative and accounting organisation".

UMB Bank NA v. Intralot Capital Luxembourg SA et al: Complaint

Complaint alleging breach of contract "regarding €500,000,000 5.250% Senior Notes due 2024" in UMB Bank N.A., of Kansas City, Missouri v. Intralot Capital Luxembourg S.A., of Luxembourg; Intralot S.A., of Greece; Intralot Global Holdings B.V., of the Netherlands; Intralot, Inc., of Georgia, USA; Intralot US Securities B.V., of the Netherlands; Intralot U.S. Holdings B.V., of the Netherlands, and The Law Debenture Trust Corporation PLC, of England and Wales, at the U. S. District Court for the Southern District of New York.

SiriusPoint Ltd. v. Allied World Assurance Company (Europe) DAC et al: Writ of Summons

Generally Indorsed Writ of Summons in SiriusPoint Limited, of Bermuda v. Allied World Assurance Company (Europe) DAC, of Ireland; SI Insurance (Europe) SA, of Luxembourg; Endurance Worldwide Insurance Limited, of England; All Members of Lloyd's Syndicate No. 9375, All Members of Lloyd's Syndicate No. 457, Great Lakes Insurance SE, of Germany; All Members of Lloyd's Syndicate No. Act 19 9554, All Members of Liberty Syndicate No. 4472, All Members of Syndicates Comprising Consortium No. 9562 at Lloyd's, known as Barbican Financial & Professional Lines; All Members of Pembroke Syndicate No. 4000, XL Specialty Insurance Company, of Canada, All Members of Lloyd's Syndicate No. HDU 382, Starr Underwriting Agents Limited, of England; All Members of Lloyd's Syndicate No. Act 9418, and Canopius Managing Agents Limited, of England, at Bermuda Supreme Court.
SPI Investment Fund

Swiss asset manager Marc-André Pépin accused of fraud by Cayman’s SPI Investment Fund

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.

‘Immediately remove Dennis Klemming from your website,’ writes his attorney

"Demand Letter" from Florida attorney Daniel DeSouza requesting the removal from OffshoreAlert's website of lawsuits against or which mention his client, Dennis Klemming, a Swedish citizen residing in Miami Beach, Florida, who is chairman of Prudent Group which, according to its website, "currently manages fund vehicles and separate mandates for institutional clients in Luxembourg, Cayman Islands, and Delaware domiciles".

Agir Luxembourg SA: €40K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €40,000 on PFS Agir Luxembourg S.A. for regulatory breaches.

AIG Europe SA v. Gerard McCaughey et al: Complaint

Complaint in AIG Europe SA, as subrogee of Irish Banking Resolution Corporation Ltd. (in Special Liquidation), of Luxembourg, formerly known as Anglo Irish Banking Corporation Limited v. Gerard McCaughey and Sophie McCaughey, both residents of Los Angeles County, California, at the U. S. District Court for the Central District of California.

Lynda King et al v. Blockchain.com Inc. et al: Order to Pursue BVI Asset Freeze

Order continuing Freezing Order and granting permission to seek to enforce the Freezing Order in the British Virgin Islands regarding an alleged cryptocurrency-related investment fraud in Lynda King, Sarah Waugh, and Danielle Walker, all citizens of the United Kingdom v. Blockchain Access UK Limited, Blockchain Luxembourg SA, Blockchain.com Inc., and Persons Unknown at the High Court of Justice for England and Wales.

Nouvel LLC v. Brad Pitt et al: Discovery Application

Application by Nouvel LLC, a California company that, until last year, was the "holding company" of actress Angelina Jolie, to take discovery from William Bradley Pitt, an actor and Angelina Jolie's former husband; Mondo Bongo LLC, described as a California company that is Brad Pitt's "holding company", and Warren Grant, described as "Mr. Pitt's agent and a purported current director of Chateau Miraval", for use in legal proceedings in France and Luxembourg involving Chateau Miraval, described as "a 700-acre estate in the south of France that produces what Wine Spectator magazine has called 'the best rosé in the world'", filed at the U. S. District Court for the Central District of California.

Anatoly Motylev v. Bank of America et al: Discovery Application

Application by Kevin Hellard and Jonathan Thielmann, as Joint Trustees in the English bankruptcy proceedings of Anatoly Leonidovich Motylev, who "is responsible for the collapse of several Russian banks and pension funds that he controlled and has been held liable for these institutions’ debts as a result of the fraud he and his associates perpetrated", to take discovery from Bank of America NA, Citigroup Inc., JPMorgan Chase Bank N.A., HSBC Bank, Bank of New York Mellon Corporation, Standard Chartered Bank, Deutsche Bank Trust Company Americas, and Commerzbank AG, filed at the U. S. District Court for the Southern District of New York. The alleged fraud and money laundering scheme involves entities and accounts in several jurisdictions, including Austria, Belize, British Virgin Islands, Cayman Islands, Cyprus, England, Germany, Latvia, Liechtenstein, Luxembourg, Marshall Islands, Panama, Russia, Scotland, Seychelles, Switzerland, Turkey, United Arab Emirates, and USA, it was stated in the application.

Credit Suisse Virtuoso SICAV-SIF v. Katerra Inc.: Discovery Application

Application by Credit Suisse Virtuoso SICAV-SIF, of Luxembourg, on behalf of the Sub-Fund Credit Suisse (Lux) Supply Chain Finance Fund, to take discovery from Katerra Inc., of the Cayman Islands, "for use in a planned court proceeding in England against, among potentially other parties, SoftBank Group Corp. and certain of its affiliates including SoftBank Vision Fund LP, SoftBank Vision Fund II-2 LP, SVF Abode (Cayman) Limited, SVF II Abode (Cayman) Limited, and SVF Habitat (Cayman) Limited" involving the insolvent Greensill group, filed at the U. S. District Court for the District of Arizona.

Banque de Luxembourg SA: €1.3M Fine

Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €1.32 million on Banque de Luxembourg SA for regulatory breaches.

Credit Suisse Virtuoso SICAV-SIF v. SB Investment Advisers (US), Inc.: Discovery Application

Application by Credit Suisse Virtuoso SICAV-SIF, of Luxembourg, on behalf of the sub-fund Credit Suisse (Lux) Supply Chain Finance Fund, to take discovery from SB Investment Advisers (US), Inc. for use in "an anticipated court proceeding in England against, among potentially other parties, SoftBank Group Corp. and certain of its affiliates including SoftBank Vision Fund LP, SoftBank Vision Fund II-2 LP, SVF Abode (Cayman) Limited, SVF II Abode (Cayman) Limited, and SVF Habitat (Cayman) Limited", filed at the U. S. District Court for the Northern District of California.

Bruce Schmutter et al v. Arrival SA et al: Class Action Complaint

Class Action Complaint in Bruce Schmutter and Dean Samet v. Arrival SA, described as a Luxembourg-domiciled, England-based "manufacturer and distributor of commercial electric vehicles"; Denis Sverdlov, Tim Holbrow, Michael Ableson, and Avinash Rugoobur at the U. S. District Court for the Southern District of New York.

Nordic Aviation Capital Designated Activity Company: Chapter 11 Petition

Chapter 11 Petition by Nordic Aviation Capital Designated Activity Company, of Ireland, part of a group that is "the world’s largest regional aircraft lessor and the sixth largest commercial aircraft lessor, offering leasing and lease management solutions to airlines and aircraft investors worldwide" and comprises companies in the British Virgin Islands, Cayman Islands, Cyprus, Denmark, England, France, Germany, Guernsey, Ireland, Luxembourg, Malta, Singapore, South Africa, Sweden, and United States, at the U. S. Bankruptcy Court for the Eastern District of Virginia.

MFS Series Trust I et al v. FirstEnergy Corp. et al: Complaint

Complaint alleging "FirstEnergy - led by its then-Chief Executive Officer Charles E. (Chuck) Jones and other senior executives - was part of a criminal enterprise, engaging in a massive bribery and money laundering scheme to pay tens of millions of dollars to Ohio public officials in exchange for official acts done to benefit the Company" in MFS Series Trust I, on behalf of MFS Value Fund; MFS Series Trust IV, on behalf of MFS Blended Research Global Equity Fund; MFS Series Trust V, on behalf of MFS Research Fund and MFS Total Return Fund; MFS Series Trust VI, on behalf of MFS Utilities Fund; MFS Series Trust X, on behalf of MFS Blended Research Mid Cap Equity Fund and MFS Blended Research Value Equity Fund; MFS Series Trust XI, on behalf of MFS Mid Cap Value Fund and MFS Blended Research Core Equity Fund; MFS Series Trust XV, on behalf of MFS Global Alternative Strategy Fund; MFS Variable Insurance Trust, on behalf of MFS Value Series, MFS Utilities Series, MFS Total Return Series, and MFS Research Series; MFS Variable Insurance Trust II, on behalf of MFS Blended Research Core Equity Portfolio; MFS Variable Insurance Trust III, on behalf of MFS Mid Cap Value Portfolio; MFS Meridian Funds, of Luxembourg, on behalf of U.S. Value Fund and Managed Wealth Fund; MFS Investment Management Company (Lux), Sàrl, of Luxembourg, on behalf of Blended Research Global Equity Fund; and MFS Heritage Trust Company, as Trustee for MFS Large Cap Value Fund, v. FirstEnergy Corp., Charles E. Jones, Michael Dowling, James F. Pearson, Steven E. Strah, K. Jon Taylor, Donald R. Schneider, and John Judge at the U. S. District Court for the Southern District of Ohio.

Vimco Luxembourg SA: €35K Fines

Public Notice by the Luxembourg CSSF that it has imposed two fines totaling €35,000 on Vimco Luxembourg S.A. for regulatory breaches.

Solon Director (Malta) Ltd.: €2.5K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,500 on Solon Director (Malta) Limited for a regulatory breach.

Amundi Luxembourg SA: €153K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €153,400 on Amundi Luxembourg SA, described as an investment fund manager, for a regulatory breach.

GAM (Luxembourg) SA: €48.5K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €45,500 on GAM (Luxembourg) SA, described as an investment fund manager, for regulatory breaches.

Reyl Prime Solutions SA: Reprimand

Public Notice by the Luxembourg CSSF that it has issued a reprimand to Reyl Prime Solutions S.A. (in Voluntary Liquidation) for a regulatory breach.

JL Sports Investments Ltd. v. Luis Barbosa et al: Complaint

Complaint alleging "a fraudulent and deceptive scheme by Defendants to conceal the true nature and structure of the Prudent Enterprise in order to secure lucrative international soccer rights deals while at the same time suppressing the ability of their creditors to collect" involving entities in Brazil, Cayman Islands, Curaçao, Luxembourg, and the USA in JL Sports Investments Ltd., described as "a London-based boutique consulting and management firm in the sports and media industry" founded by "Dr. Jur. Jochen Lösch" v. Luis Barbosa, Antonio Maciel, Prudent Corporate Finance LLC, and Latin American Equity Sports LLC at the U. S. District Court for the Southern District of Florida.

Orbis Global Equity LE Fund et al v. Vale SA et al: Complaint

Complaint "to recover significant investment losses suffered as a result of securities fraud perpetrated by Defendants" in Orbis Global Equity LE Fund, of Australia; Orbis Global Equity Fund, of Australia; Orbis Global Balanced Fund, of Australia; Orbis SICAV, of Luxembourg; Orbis Institutional Funds Limited, of Bermuda; Orbis Global Equity Fund Limited, of Bermuda; Orbis Institutional Global Equity LP, of Delaware, and Orbis OEIC, of England and Wales v. Vale SA, described as "an international mining company based in Brazil"; Murilo Ferreira, Fabio Schvartsman, Luciano Siani Pires, Gerd Peter Poppinga, and Luiz Eduardo Froes do Amaral Osorio at the U. S. District Court for the Eastern District of New York.

JSC BTA Bank v. Bank of America et al: Discovery Application (‘$7.5B Fraud’)

Application by JSC BTA Bank, of Kazakhstan, to take discovery from The Clearing House Payments Company LLC and "thirteen intermediary banks", namely Bank of America NA, Bank of China, The Bank of New York, BNP Paribas USA, Citibank NA, Commerzbank AG, Deutsche Bank Trust Company, HSBC Bank USA NA, JPMorgan Chase Bank NA, Société Générale AG, Standard Chartered Bank, UBS AG, and Wells Fargo Bank NA regarding Saint Vincent and the Grenadines-domiciled Panolos Limited for use in legal proceedings in England "against BTA Bank's former chairman, and primary shareholder, Mukhtar Ablyazov, upon BTA Bank's discovery that Ablyazov had illegally misappropriated as much as $7.5 Billion of BTA Bank’s assets and subsequently laundered the proceeds through multiple financial institutions all over the world", filed at the U. S. District Court for the Southern District of New York.

Transnet SOC Ltd.: €15K Fine

Public Notice by the Luxembourg CSSF that it has imposed an administrative fine of €15,000 on Transnet SOC Ltd. for regulatory breaches.

RCB Bank Ltd.: €132K Fine

Public Notice by the Luxembourg CSSF that it has imposed a fine of €132,000 on RCB Bank Ltd. for regulator breaches.

Lebanese Company for Financial Investment SAL v. Córporación Eléctrica Nacional: Complaint

Complaint for damages of $9.9 million alleging the default of Notes in Lebanese Company for Financial Investment SAL, of the Lebanon v. Córporación Eléctrica Nacional, as successor by merger to C.A. La Electricidad de Caracas, a.k.a. Corpoelec, described as being "owned 75% by the Bolivarian Republic of Venezuela (the “Republic”) and 25% by Petróleos de Venezuela, S.A. (“PDVSA”), which is, in turn, majority owned by the Republic", at the U. S. District Court for the Southern District of New York.

Lynda King et al v. Blockchain.com Inc. et al: Complaint (‘£631K Crypto Fraud’)

Particulars of Claim for damages of £631,663 or 15.5817228 Bitcoin alleging the claimants were victims of a cryptocurrency-related investment fraud in Lynda King, Sarah Waugh, and Danielle Walker, all citizens of the United Kingdom v. Blockchain Access UK Limited, Blockchain Luxembourg SA, Blockchain.com Inc., and Persons Unknown at the High Court of Justice for England and Wales.

SEC v. Akazoo SA: Final Judgment

Agreed Final Judgment for $38.8 million in U. S. Securities and Exchange Commission v. Akazoo S.A., of Luxembourg, at the U. S. District Court for the Southern District of New York.
dennis-klemming

Sunset Harbour South Condominium Association Inc. v. Dennis Klemming et al: Complaint

Complaint alleging the defendants "repeatedly refused to comply with the Association's COVID-19 safety protocols" and "threatened to kill ... individuals on Condominium property" in Sunset Harbour South Condominium Association Inc. v. Dennis Klemming and Ivonne Klemming at the Circuit Court of the 11th Judicial Circuit, in and for Miami-Dade County, Florida. Editor's Note: Dennis Klemming, a citizen of Sweden, is the Chairman of the Prudent Group, which claims on its website to operate "a corporate structure that allows well informed and institutional investors the opportunity to invest in a short-term, corporate lending platform through Luxembourg, Cayman, and Delaware based hedge fund vehicles".

Think Capital Ltd.: Investigation Notice

Announcement by Intel Suisse, a financial investigation and asset recovery firm, that it "has been engaged to investigate and seek recovery of financial losses arising from multiple trading platform failures at online tradng platform Thinkmarkets, a global portal offered by Think Capital Limited of Bermuda".

Agate Assets SA: Managers

Corporate Report for Agate Assets SA, obtained from the Luxembourg Business Register.

Estate of Martin Zawatsky v. Corry Capital Advisors LLC et al: Complaint

Complaint for "recovery of insurance proceeds due to lack of insurable interest" in Estate of Martin A. Zawatsky, by its Executor, Marc Zawatsky v. Corry Capital Advisors LLC, of Delaware; CCA Life Settlements Sàrl, of Luxembourg, and CCA Life Settlements Fund FCP-SIF, of Luxembourg, at the U. S. District Court for the Southern District of Florida.