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    IRS receives permission to serve subpoena on First Data Corp.

    The world's largest processor of credit card payments has been ordered by a United States court to assist the IRS in its investigation into tax evasion using offshore accounts.First Data Corp. must turn over information about transactions by holders of American Express, Visa and MasterCard credit cards that were issued by or on behalf of certain offshore financial institutions.

    Investors sue Lancer Group service providers for $570 m

    Eighty-six investors from 19 countries who claim to have invested more than $570 million in the Lancer Offshore Group have filed a lawsuit against its directors, administrator, auditor and prime broker. The three biggest claimants are all based in Montreal, Canada: Fondation Lucie et Andre Chagnon, a charity with a claim for $100 million; Bombardier Inc., the world's biggest train maker and third largest civil aircraft manufacturer whose pension fund has a claim for $68 million; and the University of Montreal's pension fund, with a claim for $67 million.

    Citco slammed by Lancer Group Receiver

    An offshore fund administrator has been accused of "impeding" the investigation in the United States into the $600 million collapse of the Lancer group of hedge funds. Citco Fund Services (U.S.A.) Inc. has refused to turn over records concerning BVI-registered Lancer Offshore Inc. and The OmniFund Ltd., which its Netherlands Antilles affiliate administered.

    United Kingdom: Kevin Dooley et al (Wisconsin)

    Application for the appointment of a Commissioner to collect evidence from Fiserv Correspondent Services Inc. - pursuant to a request for judicial assistance from the United Kingdom - for a criminal investigation into "an alleged fraud scheme executed by a British solicitor, Kevin Dooley, and his firm".

    United Kingdom: Versailles Group Plc

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged fraud by Versailles Group Plc.

    UK attorney awaits sentencing for offshore tax fraud scheme

    A former attorney with UK solicitors Radcliffes Le Brasseur is still awaiting sentencing in the United States six months after admitting his part in a scheme to defraud the IRS using offshore structures. Jeremy A. Franks pleaded guilty to one count of conspiracy to commit fraud at the U. S. District Court for the Southern District of Ohio on September 27, 2002 and was released on bail of $100,000.

    United Kingdom: Kevin Dooley et al (Washington)

    Application for the appointment of a Commissioner to collect evidence from Asia, Europe and Americas Bank - pursuant to a request for judicial assistance from the United Kingdom - for a criminal investigation into "a high Yield investment scheme in which 8 investors made investments after having been promised up to 1200% return on their 9 funds, only to see the funds disappear without any return".

    United Kingdom: Neil Edward Walker et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Neil Edward Walker, James George Thomas Brooman, Ian David Cale, Irnraan Abid Karim, Barrie John Connor, Timothy Theobald, David Hodgson, Simon Morley, Craig Mark Ireland and Iftekhar Ahmed for alleged tax fraud.

    Three convicted drug dealers own preferred shares in The Harris Organization

    New evidence obtained by OffshoreAlert shows that THREE convicted drug dealers are beneficial owners of the British Virgin Islands-registered parent of The Harris Organization financial services group. The traffickers all own preferred shares, which purport to pay annual interest of 10% in the case of Wallace Stull and James Somerville, and 7% for Lawrence Boulanger.

    United Kingdom: Kevin Dooley et al (Florida)

    Application for the appointment of a Commissioner to collect evidence from Pinebank - pursuant to a request for judicial assistance from the United Kingdom - for a criminal investigation into "Kevin Dooley, John Silver and others for theft and conspiracy to defraud".

    US court approves application to serve summonses on VISA International for tax evasion investigation

    A California court has approved a request by the Internal Revenue Service for leave to file "John Doe" summonses on VISA International as part of an investigation into tax evasion using offshore credit cards. The order, issued on March 28, 2002, allows the IRS to examine the records of VISA credit or debit cards issued "by, through, or on behalf of banks or other financial institutions" in 31 offshore jurisdictions.

    Accounts in Jersey and BVI used for insider trading

    A Vancouver-based businessman who used a Jersey-registered trust and a BVI-registered IBC to conduct illegal insider trades in firms he managed has been fined $50,000 by Canadian securities regulators. David Michael Patterson admitted that he did not file insider-trading reports for trades he made through a British Virgin Islands firm in shares of four companies where he was an officer or director.

    United Kingdom: Michael Stanley Buchanan et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Michael Stanley Buchanan and Stanley George Mole for suspected theft, forgery and conspiracy to steal.

    Jersey: Edward John Erlendsen

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Jersey, in the channel Islands, into suspected fraudulent offenses perpetrated on the Royal Bank of Canada (Jersey) Ltd. by persons unknown regarding the account of Edward John Erlendsen.

    South Africa: Dr. Wouter Basson

    Application for the appointment of a Commissioner for a criminal investigation in South Africa into Dr. Wouter Basson for alleged fraud, murder, attempted murder, conspiracy to commit murder, possession of prohibited substances (Cocaine, Mandrax and Ecstasy) and "defeating the ends of Justice".

    OECD backs off publishing an offshore ‘hit list’

    The much-vaunted publication of a tax haven 'hit list' by the Organisation for Economic Co-operation and Development has been put off for at least a year. The OECD had planned to name those territories deemed to engage in "harmful tax practices" in June of this year, after which the 29 OECD member countries would seek to punish those on the list by introducing "defensive measures".

    United Kingdom: Michael Joseph O’Brien

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Michael Joseph O'Brien and others for narcotics trafficking and money laundering.

    Interclaim (Bermuda) freezes $200 m of assets controlled by callous white-collar criminals

    Debt recovery firm Interclaim (Bermuda) Limited made international headlines recently after a series of daring legal manoeuvres in several countries against the type of heartless criminals who have become accustomed to getting away with their crimes.The company, which operates from Dublin, Ireland, has successfully frozen in the region of US$200 million of assets linked with Blair Down, a Canadian businessman who created his wealth by ripping off the elderly.

    Bermuda property dealer gives evidence at Jersey fraud trial

    Bermuda-based property dealer Bryan Gudgeon flew to Jersey this month to give evidence in the trial of Robert Young, who is accused of making false, misleading or deceptive statements that helped him make $6 million while he was losing his clients more than $10 million in five years.Gudgeon was Young's largest single investor, putting $10 million into his foreign exchange schemes. He was one of the few investors to emerge with a profit.