Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Kenneth Krys and Christopher Stride, as the Foreign Representatives of Fairfield Sentry Limited, Fairfield Sigma Limited, and Fairfield Lambda Limited, at the U. S. Bankruptcy Court for the Southern District of New York.
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Ireland by Michael McAteer, as the Foreign Representative of Bedminster International Limited, at the U. S. Bankruptcy Court for the District of Massachusetts.
Investment vehicles domiciled in the Cayman Islands, Delaware and Ireland have applied for an injunction to prevent insiders of a subprime financial services provider that faces "imminent" insolvency from allegedly enriching themselves and other shareholders at the expense of debt
A meeting that PricewaterhouseCoopers (Bermuda) partner Scott Watson Brown had with Bernard Madoff in December, 2004 — after which Watson Brown gave the fraudster a clean bill of health — has led to his firm being added as a defendant
Indictment in USA v. Steven Roy Jamieson, Michael J. Signoretto, Robert William Moore, David William Price, Thomas Francis Quinn, John Jeffrey Hemmer, and FNU LNU, a.k.a. Brian Roland Kent at the U. S. District Court for the Northern District of Texas.
A class action lawsuit has been filed against several offshore entities and individuals on behalf of investors in four hedge funds who allegedly lost over $3 billion in the Bernard Madoff fraud. Among the offshore defendants are Bank of Bermuda
Offshore companies in Bermuda and the Cayman Islands and two residents of Bermuda are defendants in action lawsuits brought on behalf of investors in hedge funds domiciled in the British Virgin Islands and Delaware who may have lost up to
Application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged fraud, theft and money laundering involving Roger Bryer, Yulia Bryer, Herbert Austin, Susan Austin and others.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Italy into Oscar Cannone, Vincenzo Melodia and others for alleged smuggling, money laundering and violations of tax provisions.
Giant meat processor Tyson Foods, Inc. is seeking damages of more than $113 million in litigation and arbitrations against insurers in Bermuda and elsewhere for alleged property damage and business interruption losses caused by Hurricane Katrina on August 29, 2005.Details
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Nevis by Richard Fogerty and William Tacon, as Foreign Representatives of Condor Insurance Limited, at the U. S. Bankruptcy Court for the Southern District of Mississippi.
Condor Insurance Ltd. went into liquidation at the High Court of St. Kitts and Nevis on May 18 following a petition by New York Stock Exchange-listed Infineon Technologies AG, which is registered in Germany.Richard Fogerty, of Kroll (Cayman) Limited, and William Tycon, of Kroll (BVI) Limited, were appointed joint official liquidators. Another creditor, Pro Med Reinsurance Limited, which, like Condor, is incorporated in Nevis, was granted permission to appear in the liquidation.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Ukraine into alleged tax fraud involving FCTS Enterprises Ltd.
Complaint in Radcliffe SPC Ltd., based in Ireland, domiciled in the Cayman Islands, for and on behalf of the Class A Segregated Portfolio, f.k.a. the Class A Convertible Crossover Segregated Portfolio v. Earth Biofuels Inc. at the U. S. District Court for the Southern District of New York.
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in St. Vincent and the Grenadines by Malcolm Butterfield, Brian Glasgow, and Simon Whicker, as the Foreign Representatives of Tri-Continental Exchange Ltd., Combined Services Ltd., and Alternative Market Exchange Ltd., at the U. S. Bankruptcy Court for the Eastern District of California.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Francois Davoine for suspected embezzlement.
An investment fund organized in Luxembourg claims it has been defrauded by a publicly listed firm in the United States.Verus Global Fund filed a complaint against eXair Communications Corporation at the U. S. District Court for the Southern District of
Judgment Order, Findings of Fact & Conclusions of Law in Connelly Management Inc., Connelly Management Employee Welfare Benefit Plan, James B. Connelly, individually and as a participant under the Connelly Management Employee Welfare Benefit Plan, v. Ferguson Marketing Group Inc., Euan David McNicoll, John Fowler Anderson, Marsh Investment Corporation, McSooner, Inc., Marketrends Financial Services Ltd., Marketrends Insurance, Ltd., Michael Arthur Reeve, Saint John Management Services, Ltd., and Michael Reeve & Associates at the U. S. District Court for the District of South Carolina.
Fund administrator Citco knew that Lancer Offshore was fraudulently valuing assets nearly two years before the fund collapsed but its sole concern was how to extricate itself from the $400 million insolvency, rather than warn investors and regulators. That is the most serious allegation contained in a civil lawsuit that was filed as long ago as January 14, 2005 at the U. S. District Court for the Southern District of Florida but kept sealed until February 21, 2006 due to concerns that its release may breach a court order prohibiting disclosure of certain information. It is supported by copies of extraordinary email exchanges between Citco's senior executives that were disclosed in discovery that Citco opposed.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into Vitali Nicolaevich Daginov for alleged theft from Kalmneft JSC, Glencoe International AG and Briarwise International Ltd.
Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Hungary - that was filed at federal court in the USA on December 22, 2005. Individuals and businesses mentioned in the request for assistance include Attila Kulcsar, Tibor Endre Rejto, El Abed Hasan, Mahmoud Abdo, Miklos Bitvai, Dr. Gabor Garamszegi, Dr. Erika Erzsebet Futo, Janos Meszaros, Eva Toth, Katalin Balassa, Hajnalka Pinizsi, Gyula Szeker, Pacific Traders Company LLC, Britton Interinvest Ltd., Atlantic Business Finance Ltd., Canadian Merchant Trading Inc., Megastar Trading Co., Feldman Management BV, Britalia Intenvesi Ltd., Glendale Inter-Management SA, Inter Capital Projects Ltd., Lobagola Investment Inc., Intercorp Holdings LLC, First Capital Invest LLC, Globe International Investment, American-Hungarian Fashionhouse Inc., The Montrade Establishment Ltd., Balmoral Group LLC, Ashmore Investments LLC, Geometax Holdings Ltd., K&H Equities Reszvenytarsasag, K&H Befektetesi Reszvenytarsasag, and JPMorgan Chase.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Hungary into Attila Kulcsar, Janos Meszaros, Dr. Erika Erzsebet Futo, El Abed Hasan, Mahmoud Abdo and Gyula Szeker for alleged embezzlement and money laundering.
Forty-six Norwegian parties are seeking evidence from a New York attorney as part of an attempt to recover millions of dollars allegedly defrauded from them in an investment scam.They filed a motion for the issuance of letters rogatory at the U. S. District Court for the Eastern District of New York, in Brooklyn, on November 18, 2005.
Two British nationals have been charged with defrauding clients of companies in the Bahamas and England in a high yield investment scam.Shinder Gangar, 44, and Alan White, 47, were each charged with two counts of conspiracy to defraud at Leicester
A United States federal judge has dismissed a criminal indictment against all eight defendants who were accused of using several offshore reinsurers to commit a $45 million fraud.All 54 counts of conspiracy, fraud and money laundering against Michael Arthur Reeve,
A United States federal judge has dismissed a criminal indictment against all eight defendants who were accused of using several offshore reinsurers to commit a $45 million fraud.All 54 counts of conspiracy, fraud and money laundering against Michael Arthur Reeve,
First Amended Complaint in ABN AMRO, Inc. v. Capital International Limited, Eirles Four Limited, Deutsche Bank Aktiengesellschaft, Sarco Holdings, and Dhananjay (Dan) Hajela at the U. S. District Court for the Northern District of Illinois.
An offshore fund administrator in the Netherlands Antilles has been caught up in a second hedge fund scandal in less than two years.Citco Fund Services (Curacao) NV is a defendant in a civil lawsuit filed on June 9, 2005 by investors in Dobbins Offshore, which was registered in the British Virgin Islands. KPMG (Netherlands Antilles), as the Fund's auditor, is also a defendant. The plaintiffs include companies in the Cayman Islands, France, Luxembourg and Switzerland.
An offshore company that provided Know Your Customer services to the financial industry has stopped operating."KYCOS Limited has announced today that they will cease local operations here in the Isle of Man, the Channel Islands and the Republic of Ireland effectively 30th June 2005," stated the firm in a press release issued on July 1, 2005.
In the space of four or five years, Halliburton, the international oil services and construction conglomerate that is under attack for overcharging and underperforming in Iraq, has gone from reporting approximately 70 to 80 offshore subsidiaries in its annual SEC filing to just two, both in the Cayman Islands.Offshore networks had become a central part of Halliburton's management and financial strategy. When current United States Vice President Dick Cheney was CEO of Halliburton from 1995 to 2000, the company's offshore subsidiaries increased from nine to 44. By the year 2001, that had nearly doubled. Now most of them have gone missing!
As a Russian court prepares to issue a verdict in the tax evasion trial of Russian mogul Mikhail Khodorkovsky, documents show that his Menatep holding company and Yukos Oil shorted Russia of billions of dollars in taxes by using shell companies for transfer pricing.They also allegedly cheated minority shareholders. A U.S. lawsuit is charging that Yukos auditor PricewaterhouseCoopers knew of the false invoicing scheme and failed in its duty to report it. Documents obtained by OffshoreAlert, but not cited in the suit, indicate that PwC knew of Yukos' offshore marketing structure, called "Jurby Lake," which used Menatep shell companies in Switzerland, Liberia and Dublin to sell Yukos oil.
Bermuda registered ESG Re is now pursuing a professional negligence claim against its former auditor, Deloitte and Touche, in Ireland after a United States court rejected jurisdiction.Defendants in a new action filed at the High Court (Commercial Division) in Dublin
A former insurance regulator in the British Virgin Islands has been accused of conspiring with others to defraud the United States Government of more than $500 million since at least 1998.Nigel J. Bailey, a British national living in the BVI,
Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged securities fraud - pursuant to a request for judicial assistance from the Czech Republic - that was filed at federal court in the USA on October 19, 2004. Individuals and businesses mentioned in the request for assistance include Jiri Langer, Jiri Kerslager, Martin Zach, Petr Kaplan, Venture Group SA, Credit and Development Company AS, IFC International Financial Corporation, McPherson & Durrant Co. Ltd., Bradley and Company, Finnex Trust, Assent Inc., and Colonial Bank.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Czech Republic into Jiri Langer and Jiri Kerslager for alleged fraud.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged investment fraud and money laundering by Shinder Gangar and others.
No mention of SEC's securities fraud investigation in publicly-listed Lines Overseas Management's half-monthly letter to shareholders; Fraudster Maurice Lewis Mills loses a civil lawsuit that was filed against him by the Commodity Futures Trading Commission; Former offshore provider David Hampton Tedder indicted again; Former banker Mohamad Harajchi claims to have contributed $10 million to the Progressive Liberal Party to fund its successful general election campaign in the Bahamas in 2002; US Gov't tries to kick-start its stalled criminal action against Yank Barry and James Collins; Leadenhall Bank & Trust says its viability has not been affected by the loss of its MasterCard license and its legal dispute with former card administrator Axxess International over the return of millions of dollars of deposits to card-holders; and Axxess International appears to have gone out of business.
Article based on an application to collect evidence for a criminal investigation into suspected fraud - pursuant to a request for judicial assistance from Portugal - that was filed at federal court in the USA on May 17, 2004. Individuals and businesses mentioned in the request for assistance include Hassan Raef Hamze, Skyport Computers, Hanna Car Hendles GmbH, Manuel Carvalho de Sousa, Elie Hanna, Efax.com, J2 Global Communications, KBC Bank, Banco Espirito Santo, Bank Fuer Tirol Und Vorarlberg, and Bank One.
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Spain into Domingo Tarruella Dalmau and others for alleged money laundering.
Complaint in ABN AMRO, Inc. v. Capital International Limited and Eirles Four Limited at the U. S. District Court for the Northern District of Illinois.
Several offshore reinsurers have been implicated in an alleged $45 million health insurance scam in the United States. The reinsurers, formed in Aruba, Belgium, the Cook Islands, Cyprus, and Ireland, have allegedly failed to pay claims to small businesses and