Labuan FSA: Business Restrictions (June 13, 2025)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 32 "Labuan Licensed Entities" for "non-compliance to minimum capital and/or other regulatory requirements".
M/S Dovetail India Fund v. Citibank NA: Complaint (‘$4.6M Fraud Proceeds’)
Complaint for a preliminary injunction to prohibit the defendants from distributing $4.6 million that was "intercepted by cybercriminals" in M/S Dovetail India Fund, described as "a global capital fund based in Mauritius" v. Citibank N.A. at the U.S. District Court for the Southern District of New York.
Fiber Optic Holding Company Ltd.: Winding Up Petition (‘$10M Debt’)
Winding Up Petition in the matter of Fiber Optic Holding Company Ltd., whose "principal business activity is to act as a special purpose vehicle for a single investment in HyalRoute Communication Group Ltd.", at the Grand Court of the Cayman Islands.
Pacific Recovery Partners LLC v. Citibank N.A. et al: Discovery Application
Application by Pacific Recovery Partners LLC to take discovery from Citibank, N.A., Deutsche Bank Trust Co. Americas, The Bank of New York Mellon, JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Barclays Bank PLC, Bank of America, N.A., HSBC Bank USA, Societe General, UBS AG, BNP Paribas, Standard Chartered, Commerzbank AG, The Bank of Nova Scotia, and The Clearing House Payment Company LLC "for use in contemplated foreign proceedings against David T. Smith" to collect on a $21 million judgment regarding "an investment fraud scheme", filed at the U.S. District Court for the Southern District of New York.
Cayman court asked to supervise liquidation of AXIA crypto group amid ‘$41M fraud’ allegations
In anticipation of "legal challenges" from creditors, the Voluntary Liquidators of two Cayman Islands entities that are part of the AXIA Group which raised $41 million from investors for a crypto project that collapsed following regulatory action in Canada and a securities fraud complaint in the United States have asked a Cayman court to supervise the liquidation.
Dubai-based U.K. national Richard Fagan ordered to pay £62M by Gibraltar judge for Kijani Commodity Fund fraud
Dubai-based, British national Richard Fagan has been ordered to pay £62 million by a Gibraltar court for swindling investors in Kijani Commodity Fund, a Mauritius and then Cayman Islands-domiciled fund that raised $123 million from pension funds and private investors before collapsing after being exposed by OffshoreAlert in 2015.
Kijani Resources Ltd. (in Liquidation) et al v. Richard Fagan: £62M Judgment (Fraud)
Judgment ordering Richard Fagan to pay £62 million in Edgar Lavarello and Simon Conway, as Joint Liquidators of Kijani Resources Limited and Ratio Limited v. Richard Fagan, a citizen of the United Kingdom residing in Dubai, United Arab Emirates; Simon Hooper, and William Redford at the Supreme Court of Gibraltar.
Ruma Kissoondharry v. BVI Registrar of Corporate Affairs: Restoration Application (Sunhill United S.A.)
Fixed Date Claim Form regarding Sunhill United S.A. in Ruma Devi Anuradha Kissoondharry, of Mauritius v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
Adamas Capital: Company Details (Mauritius)
Company Details for Adamas Capital, obtained from the Mauritius Registrar of Companies on February 2, 2025.
Adamas Capital: License Suspension (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has suspended the 'Investment Dealer (Broker) Licence' of Adamas Capital.
Melissa Ng Fo Yan v. BVI Registrar of Corporate Affairs: Restoration Application (Namuro Invest Corp.)
Fixed Date Claim Form regarding Namuro Invest Corp. in Melissa Ng Fo Yan, of Mauritius v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
USA v. Trident Corporate Services, Inc. et al: Order Granting Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Order Granting Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.
Trafigura Pte Ltd. v. Bank of America NA et al: Discovery Application (England)
Application by Trafigura Pte Ltd., of Singapore, to take discovery from Bank of America, N.A., Bank of China U.S.A., The Bank of New York Mellon Corporation, Barclays Bank PLC, New York Branch; BNP Paribas USA, Inc., Citibank N.A., The Clearing House Payments Company LLC, Commerzbank AG, New York Branch; Deutsche Bank Trust Co. Americas, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., Société Générale, New York Branch; Standard Chartered Bank, New York Branch; UBS AG, New York Branch, and Wells Fargo Bank, N.A. for use in legal proceedings in England against Indian businessman Prateek Gupta alleging "a massive fraud costing hundreds of millions of dollars", filed at the U.S. District Court for the Southern District of New York.
Hub Investments Ltd.: Company Report (Mauritius)
Company Report for Hub Investments Ltd., obtained from the Mauritius Registrar of Companies on January 13th, 2025.
Hub Investments Ltd.: License Revocation (Mauritius)
Pubic Notice by the Mauritius Financial Services Commission that it has revoked the "Global Business Licence and Investment Dealer (Full-Service Dealer Excluding Underwriting) Licence" of Hub Investments Ltd.
U.S. courts authorize IRS to issue ‘John Doe’ summonses to identify Trident Trust Group clients suspected of U.S. tax evasion
United States federal courts in New York and South Dakota have entered orders authorizing the IRS to serve 'John Doe' summonses on 14 entities in an attempt to identify clients of corporate services provider Trident Trust Group who are suspected of evading U.S. taxes, while a third court in Georgia has yet to rule on a similar petition.
USA v. FedEx et al: Order Granting Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Order Granting Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.
USA v. Trident Trust Company (South Dakota) Inc.: USA’s Motion to Unseal All Documents (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
USA's Motion to Unseal All Documents in Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on Trident Trust Company (South Dakota) Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the District of South Dakota.
USA v. Trident Trust Company (South Dakota) Inc.: Court Docket (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Court Docket for a sealed Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on Trident Trust Company (South Dakota) Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the District of South Dakota.
USA v. Trident Corporate Services, Inc. et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.
USA v. FedEx et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.
IRS files ‘John Doe summons’ petitions to identify Trident Trust Group clients suspected of U.S. tax evasion
In an attempt to identify clients of international corporate services provider Trident Trust Group who are suspected of evading U.S. taxes, the IRS has applied to federal courts in New York, Georgia, and South Dakota for permission to serve 'John Doe Summonses' on courier services, financial institutions, correspondent banks, and Trident Trust Group itself.
SEC v. Cyril Cabanes: Complaint (‘$250M Bribery’)
Complaint alleging violations of the Foreign Corrupt Practices Act in U.S. Securities and Exchange Commission v. Cyril Sebastien Dominique Cabanes, described as a citizen of France residing in Singapore, at the U.S. District Court for the Eastern District of New York.
SEC v. Gautam Adani et al: Complaint (‘$175M Securities Fraud’)
Complaint in U.S. Securities and Exchange Commission v. Gautam Adani and Sagar Adani at the U.S. District Court for the Eastern District of New York.
FTX Trading Ltd. et al v. Nawaaz Meerun: Complaint (‘$1B Fraud’)
Complaint against a citizen and resident of Mauritius who "orchestrated a series of massive market manipulation schemes and defrauded hundreds of millions of dollars from FTX" in FTX Trading Ltd., of Antigua and Barbuda, and Alameda Research Ltd., of the British Virgin Islands v. Nawaaz Mohammad Meerun at the U.S. Bankruptcy Court for the District of Delaware.
Labuan FSA: Business Restrictions (October 30, 2024)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 31 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
USA v. Gautam Adani et al: Criminal Indictment (‘$265M Bribery & Securities Fraud’)
Criminal Indictment alleging bribery and securities fraud in Gautam Adani, Sagar R. Adani, Vneet S. Jaain, Ranjit Gupta, Saurabh Agarwal, Deepak Malhotra, Rupesh Agarwal, all described as citizens and residents of India, and Cyril Cabanes, described as a citizen of Australia residing in France, at the U.S. District Court for the Eastern District of New York.
Labuan FSA: Business Restrictions (October 18, 2024)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 26 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
Hub Investments Ltd.: Warning Notice (Mauritius)
Warning Notice by the Mauritius Financial Services Commission against Hub Investments Ltd.
ProConstruct Trading Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of ProConstruct Trading Limited Limited.
SuperTrade International Trading Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of SuperTrade International Trading Limited.
Digibits Network Ltd.: Company Details (Mauritius)
Company Details for Digibits Network Limited, obtained from the Mauritius Registrar of Companies on August 14th, 2024.
Digibits Network Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of Digibits Network Limited for regulatory breaches.
Bright Periods Consulting: Company Details (Mauritius)
Company Details for Bright Periods Consulting, obtained from the Mauritius Registrar of Companies on July 28th, 2024.
Codomas Ltd.: Company Details (Mauritius)
Company Details for Codomas Ltd., obtained from the Mauritius Registrar of Companies on July 28th, 2024.
Bright Periods Consulting: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of Bright Periods Consulting for regulatory breaches.
Codomas Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the license of Codomas Ltd. for regulatory breaches.
Labuan suspends license of Chinese-owned Asia Pacific Investment Bank
The Labuan Financial Services Authority has suspended the license of Malaysia-based, Chinese-owned Asia Pacific Investment Bank Ltd. "for non-compliance to minimum capital and/or other regulatory requirements".
ProConstruct Trading Ltd.: Company Details (Mauritius)
Company Details for ProConstruct Trading Limited, obtained from the Mauritius Registrar of Companies on July 4th, 2024.
SuperTrade International Trading: Company Details (Mauritius)
Company Details for SuperTrade International Trading, obtained from the Mauritius Registrar of Companies on July 4th, 2024.
ProConstruct Trading Ltd.: License Suspension (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of ProConstruct Trading Limited.
SuperTrade International Trading: License Suspension (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has suspended the Global Business License of SuperTrade International Trading.
Trimeta Capital Ltd.: ‘Court Supervision’ Petition (Cayman Islands)
Petition for Court Supervision of a Voluntary Liquidation in the matter of Trimeta Capital Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.
Rivux Capital Ltd.: Company Details (Mauritius)
Company Details for Rivux Capital Ltd., obtained from the Mauritius Registrar of Companies on May 23rd, 2024.
Axtra LLC et al v. AXIA Issuer Inc. et al: Second Amended Complaint (‘$41M Crypto Fraud’)
Second Amended Complaint in Axtra LLC, of Wyoming, and The AXIA-Axtra Trust, of the Cayman Islands v. AXIA Issuer Inc., of the British Virgin Islands; The AXIA Foundation Inc., of Dominica; AXIA Capital Ltd., of the Cayman Islands; Nicholas Agar, a.k.a. Nick Agar, of Toronto, Ontario, Canada; Paul Ungerman, of Toronto, Ontario, Canada; Trevor Federkiewicz, of Alberta, Canada; Know Limits Private Lending Inc., of Canada, and 12 Peers Capital Markets Ltd., of Canada, at the U.S. District Court for the District of Wyoming.
Rivux Capital Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the Global Business License of Rivux Capital Ltd. for regulatory breaches.
Fiduciam Corporate Ltd.: Company Details (Mauritius)
Company Details for Fiduciam Corporate Ltd., obtained from the Mauritius Registrar of Companies on May 6th, 2024.
Fiduciam Corporate Ltd.: License Revocation (Mauritius)
Public Notice by the Mauritius Financial Services Commission that it has revoked the management license of Fiduciam Corporate Ltd. for regulatory breaches.
Ruma Kissoondharry v. BVI Registrar of Corporate Affairs: Restoration Application (Panette Ltd.)
Fixed Date Claim Form regarding Panette Limited in Ruma Kissoondharry, of Mauritius v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
‘Remove alert about Jean-Claude Bastos de Morais’, writes his London attorney
Letter from Peter Baker, a partner with law firm Quinn Emanuel Urquhart & Sullivan UK LLP, of London, England, on behalf of its client, Jean-Claude Bastos de Morais, a Swiss-Angolan businessman, requesting the removal from OffshoreAlert's website of a disqualification notice against Bastos de Morais that was published by the Mauritius Financial Services Commission on August 26th, 2020, falsely claiming that OffshoreAlert had not published the subsequent cancellation of the disqualification, even though we actually published it on October 2nd, 2020 - a mere one day after it was first published by the MFSC, and cross-linking it to the disqualification notice, no less.
