British Virgin Islands

Tether

BVI crypto firms Tether and Bitfinex fined $42.5M by US regulator

British Virgin Islands-domiciled crypto "stablecoin" group Tether has been fined $41 million for fraud by the US Commodity Futures Trading Commission, which also fined BVI crypto exchange Bitfinex $1.5 million for unlicensed activity and other offenses.

Tether Holdings Ltd. et al: $41M Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $41 million on Tether Holdings Limited, Tether Operations Limited, and Tether International Limited, all of the British Virgin Islands, and Tether Limited, of Hong Kong, for alleged fraud with its "virtual currency stablecoin".

Bitfinex: $1.5M Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $1.5 million on iFinex Inc., BFXNA Inc., and BFXWW Inc., all of the British Virgin Islands, a crypto group collectively doing business as Bitfinex, for regulatory breaches.

DappTricity Plc: Public Statement

Public Statement by the Isle of Man Financial Services Authority regarding the de-registration of DappTricity Plc, an Isle of Man company whose "whitepaper" identified its product as "blockchain-based systems for finance and gaming" and whose assets, according to the Isle of Man FSA, were transferred to "a company in the British Virgin Islands" after failing a regulatory inspection in the Isle of Man in March, 2021.
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BVI to add 3 more US defendants to ‘Miami Airline’ fraud lawsuit

The British Virgin Islands Government intends to add three more US citizens - Scott Weisman, Jerry Willoughby, and Bruce Bradley - as defendants to a lawsuit it filed against "now-suspended" US lawyer Lester Hyman alleging fraud and corruption involving plans to operate an air service between the BVI and Miami.

British Virgin Islands AG v. Signature Bank: Discovery Application

Application by the British Virgin Islands Attorney General to take evidence from Signature Bank for use in legal proceedings in the British Virgin Islands "against Lester S. Hyman", described as "a now-suspended member of the District of Columbia and Massachusetts Bars" for "for fraud and deceit and breaches of trust and loyalty and of his contractual obligations owed to the BVIG", filed at the U. S. District Court for the Southern District of New York.

Limitless Ventures II LLC v. ICAT Services Ltd. A.T.O. The Opal Trust Dated December 12, 2006: Complaint

Complaint alleging fraud involving the purchase of a property at 837 Harbor Island, Clearwater Beach, Florida for $7 million in Limitless Ventures II LLC, of Ohio v. ICAT Services Ltd. A.T.O. The Ppal Trust Dated December 12, 2006, described as a British Virgin Islands entity whose principal was Andrew Johnson, at the Circuit Court of the Sixth Judicial Circuit, in and for Pinellas County, Florida.

British Virgin Islands AG v. Pauline Jones: Discovery Application

Application by the Attorney General of the British Virgin Islands to take discovery from Pauline E. Jones for use in legal proceedings in the British Virgin Islands against Lester S. Hyman, described as "a now-suspended member of the District of Columbia and Massachusetts bars", for "fraud and deceit and breaches of trust and loyalty and of his contractual obligations owed to the BVIG", filed at the U. S. District Court for the Eastern District of Pennsylvania.

Universal Enterprises Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Eleanor Fisher, of the Cayman Islands, and Hani Bishara, of the United Arab Emirates, as Foreign Representatives of Universal Enterprises Ltd. (in Official Liquidation), described as "an investment vehicle for six brothers [from Kuwait] for the purpose of making investments in the United States", filed at the U. S. Bankruptcy Court for the Southern District of New York.

Convoy Collateral Ltd. v. Broad Idea International Ltd. et al: UK Privy Council’s ‘Black Swan’ Judgment

Judgment that the British Virgin Islands Court of Appeal was wrong to overturn a decision known as "Black Swan" regarding the jurisdiction’s authority to issue freezing injunctions in support of foreign proceedings in Convoy Collateral Ltd., of Hong Kong (Appellant) v. Broad Idea International Ltd., of the British Virgin Islands, and Cho Kwai Chee, of Hong Kong, (Respondents) at the Privy Council of the United Kingdom.

Ryan Birmingham et al v. ROFX.net et al: Class Action Complaint

Class Action Complaint against defendants in or from the British Virgin Islands, Czech Republic, England, Hong Kong, Poland, Scotland, Thailand, Ukraine, and USA alleging "Defendants orchestrated a massive international scheme to defraud Plaintiffs and similarly situated investors by soliciting them to deposit money or cash equivalents with ROFX, a “robotically operated foreign exchange trading” platform that purportedly utilized algorithms to trade on behalf of investors" in Ryan Birmingham, Roman Leonov, Mitchell Parent, Jonathan Zarley, and Steven Hansen v. ROFX.net, described as "an unincorporated entity providing unregulated financial services through its web-based platform to investors around the world" with "registered addresses" in England, Hong Kong, and the USA; Auro Advantages LLC, Aware Choice Ltd., Boonruk Ruamkit Co. Ltd., Brass Marker s.r.o., Easy Com LC, Epayments Systems Ltd., Ester Holdings Inc., Global E-Advantages LLC, Grovee LLC, Igoria Trade S.A., IT Outsourcing Co. Ltd., Notus LLC, Shopostar LLC, VDD-Trading Ltd., Wealthy Developments LP, Andrei Fetin, Anna Shymko, Anton Bilous, Borys Konovalenko, Dmytro Fokin, Jorge Luis Castillo, Manuchar Daraselia, Mikhail Rymanov, Natalia Los, Nattpemol Krinara, PapahraTsor Nrviratporn, Peter Mogilniy, Stanislav Khomenko, and Youras Ziankovich at the U. S. District Court for the Southern District of Florida.

Tether & Bitfinex Crypto Asset Litigation: Opinion & Order on Motions to Dismiss

Opinion and Order Granting in Part and Denying in Part Defendants' motions to dismiss a class action complaint known as "Tether and Bitfinex Crypto Asset Litigation" in which "a group of individual investors who purchased cryptocommodities - a class of crypto-assets that includes bitcoin - detailed a wide-ranging conspiracy to artificially inflate the price of those cryptocommodities" by entities in or from the British Virgin Islands, Hong Kong, Italy, Netherlands, Panama, and USA in Pinchas Goldshtein et al v. iFinex Inc., BFXNA Inc., BFXWW Inc., Tether Holdings Limited, Tether Operations Limited, Tether Limited, Tether International Limited, DigFinex Inc., Giancarlo Devasini, Ludovicus Jan van der Velde, Philip Potter, Reginald Fowler, Crypto Capital Corp., Bittrex, Inc., and Poloniex, LLC at the U. S. District Court for the Southern District of New York.

USA v. Mark Gyetvay: Criminal Indictment

Criminal Indictment alleging tax evasion involving companies or accounts in Belize, British Virgin Islands, Cayman Islands, Russia, and Switzerland in USA v. Mark Gyetvay, the Chief Financial Officer of Russian gas producer Novatek who is apparently a citizen of Italy, Russia, and the United States, at the U. S. District Court for the Middle District of Florida.

Luckin Coffee Inc.: ‘Scheme of Arrangement’ Petition

Petition for the Court's sanction of a Scheme of Arrangement in the matter of Luckin Coffee Inc. (in Provisional Liquidation), described as "an investment holding company with its direct and indirect subsidiaries located in the British Virgin Islands, Hong Kong, the United States and the PRC", at the Grand Court of the Cayman Islands.

Oak Trust (Guernsey) Ltd. v. William Dewsall: Re-Amended Complaint

Re-Amended Complaint alleging fraud involving Gable Holdings Inc., of the Cayman Islands, and Gable Insurance AG, of Liechtenstein, in Kevin Alcock, Corita Metelerkamp, both of Surrey, England; Oak Trust (Guernsey) Limited, of Guernsey; Baytree Group Holdings Limited, Morvale Company Limited, Aggaris Investments Limited, all of the British Virgin Islands; Christopher Lawrance, Roy Campbell, both of South Africa, and CriSeren Investments Limited, of Wales v. William Dewsall, of London, England, at the High Court for England and Wales.

USA v. Evo Bechtiger et al: Criminal Indictment

Criminal Indictment alleging "a fraudulent scheme referred to by the conspirators as the 'Singapore Solution'" involving entities in the British Virgin Islands, Hong Kong, Liechtenstein, Singapore, and Switzerland in USA v. Evo Bechtiger, Bernhard Lampert, Peter Rüegg, Roderic Sage, Rolf Schnellmann, Daniel Wächli, and Allied Finance Trust AG, described as "a financial services company in Zurich", at the U. S. District Court for the Southern District of New York.
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Three indicted in NY for ‘$155M Biscayne Capital fraud’

Three men have been indicted in New York for allegedly perpetrating a $155 million fraud and money laundering scheme involving entities in or from Argentina, Bahamas, Belgium, Bermuda, British Virgin Islands, Cayman Islands, Ecuador, Germany, Switzerland, Uruguay, and the United States.

China Medical Technologies Inc. et al v. KPMG: Discovery Application

Application by China Medical Technologies Inc. (in Liquidation), described as a Cayman Islands-domiciled "holding company of a group of companies incorporated in Hong Kong, Mainland China, the British Virgin Islands and Singapore", and CMED Technologies Ltd., of the British Virgin Islands, to take discovery from KPMG LLP for use in legal prceddings in Hong Kong, filed at the U. S. District Court for the Southern District of New York.

USA v. Roberto Cortes et al: Criminal Indictment

Criminal Indictment alleging conspiracy to commit wire fraud, bank fraud and money laundering involving entities in or from Argentina, Bahamas, Belgium, Bermuda, British Virgin Islands, Cayman Islands, Ecuador, Germany, Switzerland, Uruguay, and the United States in USA v. Roberto Gustavo Cortes Ripalda, described as a citizen of Ecuador and the U.S.; Fernando Haberer Bergson, described as a citizen of Germany and Uruguay and a resident of Argentina, and Ernesto Heraclito Weisson Pazmino, described as a citizen of Ecuador and the U.S., 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: 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.

Moises Khafif v. Daniella Gabbay et al: Claim Form

Claim Form in Moises Khafif, of Uruguay v. Daniella Gabbay, of Israel, as admininstrator of the Estate of Samuel David Katz, deceased, and Worthing Properties Limited, of the British Virgin Islands, at the British Virgin Islands High Court.

Victory Sky Holdings Ltd. v. ICG I: Stop Notice

Stop Notice by Victory Sky Holdings Limited, of the British Virgin Islands, regarding one share in ICG I owned by LC Capital Limited, filed at the Grand Court of the Cayman Islands.