United Arab Emirates

Troy Hogg et al v. Stephen Braverman et al: Summons With Notice

Summons With Notice for damages of $395 million alleging fraud and misappropriation regarding a cryptocurrency scheme in Troy James Hogg, a citizen of Canada, individually, and Leila Holdings Ltd., of Bermuda, derivatively on behalf of Arbitrade Ltd., also of Bermuda v. Stephen Lance Braverman, Kent Mason Swig, Dignity Mining Group LLC, Charles Hamlin Woodworth, Daniel Francis Sweet, Coinmint LLC, of Puerto Rico; Prieur Leary, Hayden Gill, Max Warren Barber, William Richard Saunders, Shaun L. Heseltine, ABCOR International Ltd., of Belize; Scotia International of Nevada Inc., of Utah; SION Trading FZE, of the United Arab Emirates; Jeffrey Muller, Victor George Webb, G4S Cash Services LLC, of the United Arab Emirates; Peter Walters, Kaled Swlaiman Salem Bokhem, Silver Estate Management Ltd., of Wyoming; E. Warren Goss, and Impact Partners, of New York, at the Supreme Court of the State of New York, County of New York.

Coworth Investments Ltd. et al: Dubai FSA’s ‘Regulatory Clarification’

Dubai Financial Service Authority's "Clarification regarding the regulatory status" of Coworth Investments Ltd., Coworth Fintech Ltd., and Novus Fintech Ltd. Editor's Note: As previously reported by OffshoreAlert, Coworth and Novus are part of a group controlled by British fraudster Richard Fagan.

Universal Enterprises Ltd.: Chapter 15 Recognition Order

Order granting a 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 the Foreign Representatives of Universal Enterprises Ltd. (in Official Liquidation), described in the petition 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.

Universal Enterprises Ltd.: Discovery Order

Order granting a motion by Eleanor Fisher, of the Cayman Islands, and Hani Bishara, of the United Arab Emirates, as the Foreign Representatives of Universal Enterprises Ltd. (in Official Liquidation), for the issuance of subpoenas to Fawzi Musaed Al Saleh, Ahmad Fawzi Al Saleh, Yasmine Al Saleh, John I. Snow, III, Steve Leese, Quabbin Capital Inc., Shields & Company, Inc., Wilmer Cutler Pickering Hale and Dorr LLP, Loeb, Block & Partners LLP, KPMG LLP, Citibank, Credit Suisse, Bank of America, Royal Bank of Canada, Morgan Stanley, and Société Générale to conduct discovery for use in legal proceedings at the Grand Court of the Cayman Islands, filed at the U. S. Bankruptcy Court for the Southern District of New York.

Mashreqbank PSC: $100M Fine

Consent Order in which Mashreqbank PSC, of Dubai, in the United Arab Emirates, agreed to pay a fine of $100 million to the New York State Department of Financial Services for regulatory breaches involving "USD transactions of the Bank relating to Sudan".

Lecocqassociate Ltd.: €3.5K Fine

Public Notice by the Malta Financial Services Authority that it has imposed an administrative fine of €3,500 on Lecocqassociate Ltd. for a regulatory breach.

USA v. Credit Suisse Securities (Europe) Ltd.: Criminal Information

Criminal Information alleging conspiracy to commit wire fraud involving Mozambique in USA v. Credit Suisse Securities (Europe) Limited, described as "a wholly-owned subsidiary of Credit Suisse Group AG headquartered in London, United Kingdom", at the U. S. District Court for the Eastern District of New York.

United Arab Emirates: Centennial Bank

Application for the appointment of a Commissioner to collect evidence from Centennial Bank - pursuant to a request for judicial assistance from the United Arab Emirates - for a criminal investigation into "at least 17 known and unknown defendants" for suspected fraud and money laundering that, inter alia, allegedly involved the use of "deep voice" technology to simulate the voice of a company director.

Mustafa Abdel-Wadood: $1.9M Fine & Ban

Decision Notice by the Dubai Financial Services Authority that it has imposed a fine of $1,927,495 and a prohibition on Mustafa Ahmed Talaat Abdel-Wadood, a former senior manager of the Abraaj Group who "pleaded guilty" to criminal charges at federal court in New York.

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.

Invest Bank PSC v. Citibank NA et al: Discovery Application

Application by Invest Bank PSC, which "provides corporate retail banking services in the UAE", to take discovery from Citibank, N.A., The Bank of New York Mellon, Société Générale, New York Branch; HSBC Bank USA, N.A., BNP Paribas USA, JPMorgan Chase Bank, N.A., Barclays Bank PLC, Deutsche Bank Trust Co. Americas, The Bank of Nova Scotia, UBS AG, Bank of America, N.A., Standard Chartered Bank, Commerzbank AG, New York Branch; Bank of China, New York Branch; Wells Fargo Bank, N.A., and Mashreqbank PSC for use in legal proceedings in Abu Dhabi, United Arab Emirates, “against Seidco General Contracting Company LLC, Fadi Atef Ajjaoui, and Saif Ali Al Dhabea Al Darmaki" for suspected fraud and misappropriation, filed at the U. S. District Court for the Southern District of New York.

Radical Investments Ltd. v. Good Vibrations Entertainment LLC et al: First Amended Complaint

First Amended Complaint alleging a $6.7 million fraud involving “non-existent doses” of a COVID-19 vaccine “for the purpose of vaccinating nearly 300,000 citizens of the island of Barbados” in Radical Investments Ltd., described as a St. Lucia company based in Barbados v. Good Vibrations Entertainment LLC, of Florida; Alex Lee Moore, a.k.a. Flex Moore; Prestige Pegasus LLC, of Colorado; Moniladae Coley, a.k.a. Moniladai Coley; Charles Stein, a.k.a. Charlie Stein, a lawyer in California; Davidovich Stein Law Group LLC, a law firm California, and RDS Cargo Group DWC LLC, described as a Polish company based in the United Arab Emirates, at the U. S. District Court for the Southern District of Florida.

IP Universal Ltd.: Restoration Order

Restoration Order in the matter of IP Universal Limited, a company associated with Sanjay Shah, a citizen of the United Kingdom residing in the United Arab Emirates who was criminally charged in Denmark earlier this year regarding an alleged $1.6 billion tax fraud, at the Grand Court of the Cayman Islands.

IP Universal Ltd.: Restoration Application

Originating Application in the matter of IP Universal Limited, a company associated with Sanjay Shah, a citizen of the United Kingdom residing in the United Arab Emirates who was criminally charged in Denmark earlier this year regarding an alleged $1.6 billion tax fraud, at the Grand Court of the Cayman Islands.
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Barbados Gov’t ‘agent’ lost $6.7M in ‘COVID-19 vaccine fraud’

A Caribbean firm operated by Barbadian developer Mark Maloney that says it was hired by the Barbados Government to procure one million doses of a COVID-19 vaccine for the country's population claims to have been swindled out of $6.7 million. It's not clear from a complaint filed at federal court in the U.S. last week whether the amount originated from the Government or the company, Rational Investments Ltd.

Radical Investments Ltd. v. Good Vibrations Entertainment LLC et al: Complaint

Complaint alleging a $6.7 million fraud involving "non-existent doses" of a COVID-19 vaccine "for the purpose of vaccinating nearly 300,000 citizens of the island of Barbados" in Radical Investments Ltd., described as a St. Lucia company based in Barbados v. Good Vibrations Entertainment LLC, of Florida; Alex Lee Moore, a.k.a. Flex Moore; Prestige Pegasus LLC, of Colorado; Moniladae Coley, a.k.a. Moniladai Coley; Charles Stein, a.k.a. Charlie Stein, a lawyer in California; Davidovich Stein Law Group LLC, a law firm California, and RDS Cargo Group DWC LLC, described as a Polish company based in the United Arab Emirates, at the U. S. District Court for the Southern District of Florida.

VUZ-Bank JSC v. Ashley Bahceci: Discovery Application

Application by VUZ-Bank JSC, described as "a commercial bank in Russia and 100% subsidiary of Ural Bank for Reconstruction and Development CB PJSC, to take discovery from Ashley Anderson Bahceci for use in "reasonably contemplated criminal proceedings in Dubai, United Arab Emirates" regarding "a fraud perpetrated on VUZ Bank by a number of parties, including, but not limited to, Rus-AgroExport LLC, Hakan Holdings Limited, and Hakan Agro DMCC", filed at the U. S. District Court for the Northern District of Georgia.

VUZ-Bank JSC v. Agropex International Inc. et al: Discovery Application

Application by VUZ-Bank JSC, of Russia, to take discovery from Agropex International Inc. and Hakan Holdings Limited for use in "reasonably contemplated criminal proceedings in Dubai, United Arab Emirates" regarding "a fraud perpetrated on VUZ Bank by a number of parties, including, but not limited to, Rus-AgroExport LLC, Hakan Holdings Limited, and Hakan Agro DMCC", filed at the U. S. District Court for the Western District of Virginia.

USA v. Shahrukh Razzak: Arrest

Arrest of Shahrukh Razzak regarding an indictment for fraud and money laundering alleging several defendants "exported nearly $100 million worth of Apple and Samsung products into the United Arab Emirates and Hong Kong grey markets" that were obtained "through acts of robbery, fraud, or theft" in USA v. Shahrukh Razzak at the U. S. District Court for the Eastern District of Texas.
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Michael McDaid v. Novus Fintech Ltd.: Judgment

Judgment regarding an employment dispute in Michael McDaid v. Novus Fintech Limited, of Dubai, at the Dubai International Financial Centre Courts. Editor's Note: Novus Fintech Limited was exposed as a fraud by OffshoreAlert in February 2021. The company is operated by United Kingdom national Stuart Coles and is part of a group whose principals include British/Irish serial investment fraudster Richard Fagan.

Portugal: City National

Application for the appointment of a Commissioner to collect evidence from City National - pursuant to a request for judicial assistance from Portugal - for an investigation into an "unknown subject, purporting to be the Crown Prince of Dubai" for suspected fraud.

Jeffrey Crass v. Yalla Group Ltd. et al: Class Action Complaint

Class Action Complaint alleging securities fraud in Jeffrey Crass v. Yalla Group Limited, described as a Cayman Islands-domiciled "voice-centric social networking and entertainment platform that operates mainly in the Middle East and Northern Africa", and Tao Yang at the U. S. District Court for the Southern District of New York.

Yalla Group Ltd.: Directors

Director Details for Yalla Group Limited, obtained from the Cayman Islands General Registry on August 13th, 2021.

Blackbird Capital LLC v. SION Trading FZE et al: First Amended Complaint

First Amended Complaint that "arises out of the Defendants' bad faith and fraudulent scheme, including a pattern of tortious and illegal misconduct and breaches of multiple contracts, related to a $25,000,000 loan Worth agreed to extend to Blackbird in connection with a planned real estate development project in Denver, Colorado" in Blackbird Capital LLC, described as "a real estate development company" in Iowa v. Worth Group Capital LLC, of Wyoming; Justin Ely, of Utah; Halls Law Office, of Idaho; Scotia International of Nevada, Inc., of Utah; Sion Trading FZE, of Ras Al Khaimah, in the United Arab Emirates; Max Warren Barber, of Utah; NaPo Limited, described as "a company located and incorporated in Bridgetown, Barbados, and Saint Lucia"; Nikolas Korakianitis, described as a citizen of Canada; GT Foundation, described as "a private interest foundation founded in Panama City, Panama" that "may have an office in London, England and/or New York", and Kumar Singh, of New York, at the U. S. District Court for the District of Utah.

Kuwait Ports Authority et al v. Walkers et al: Amended Writ of Summons

Amended Writ of Summons alleging negligence and breach of duty in Kuwait Ports Authority and The Public Institution for Social Security, both of Kuwait, derivatively on behalf of The Port Fund LP v. Walkers, a Cayman Islands law firm, and Walkers (Dubai), a law firm in the United Arab Emirates, at the Grand Court of the Cayman Islands.

Qasimi Law Partners v. Tanya Chuck Habib: Discovery Application

Application by the Law Office of Shaikh Fahim Al Qasimi, a.k.a. Qasimi Law Partners, of Abu Dhabi, to take discovery from Tanya Chuck Habib, of Croton-on-Hudson, New York, "for use in a proceeding in the United Arab Emirates" to enforce a judgment for AED7.2 million "against John Lawrence Habib and M.E.N.A. Bridge Advisors FZE", of Abu Dhabi, for alleged "financial misappropriations and defalcation", filed at the U. S. District Court for the Southern District of New York.

Makhpal Karibzhanova v. Mubadala Fund et al: Discovery Application

Application by Makhpal Karibzhanova, described as "a citizen of Kazakhstan and is the former wife of a wealthy and politically-connected Kazakh businessman, Aidan Karibzhanov" whose "wealth is held in offshore structures and through nominee ownership around the world, making it necessary to gather evidence from a number of countries, including the United States, the United Kingdom, Switzerland, the United Arab Emirates, and Singapore, as well as Kazakhstan and a number of offshore jurisdictions", including the British Virgin Islands, Cayman Islands, Hong Kong, and Singapore, to take discovery from Mubadala Fund, Extell Developrnent, Edward Mermelstein, One and Only Realty, Eduard Ogai, Credit Suisse, American Express and others for use in legal proceedings in Kazakhstan, filed at the U. S. District Court for the Eastern District of New York.

Emirates NBD Bank PJSC v. Fal Oil Company Ltd. et al: Motion for Default Judgment

Notice of Motion for Default Judgment regarding a complaint for AED 282 million in Emirates NBD Bank PJSC, of Dubai, in the United Arab Emirates v. Fal Oil Company Ltd., Fal Energy Company Ltd., Fal Shipping Company Ltd., Fal Marine Services Company LLC, Investment Group Private Ltd., Abdulla Juma Al Sari, Mohamed Abdulla Al Sari, and Majid Abdulla Al Sari, all of Dubai, in the United Arab Emirates, at the Supreme Court of the State of New York, County of New York.

Blackbird Capital LLC v. SION Trading FZE et al: Plaintiff’s Motion to File First Amended Complaint

Plaintiff's Motion to File First Amended Complaint alleging a "widespread fraudulent scheme perpetrated by Defendants in which they conspired to induce would-be borrowers to transfer significant funds to them as deposits on purported large-scale commercial loans" in Blackbird Capital LLC, described as "a real estate development company based in Des Moines, Iowa" v. Worth Group Capital LLC, of Wyoming; Justin Ely, of Utah; Halls Law Office, of Idaho; Scotia International of Nevada, Inc., of Utah; SION Trading FZE, of Ral Al Khaimah, of the United Arab Emirates; Max Warren Barber, of Utah; NaPo Limited, described as "a company located and incorporated in Bridgetown, Barbados, and Saint Lucia"; Nikolas Korakianitis, described as a citizen of Canada; GT Foundation, described as "a private interest foundation founded in Panama City, Panama" that "may have an office in London, England and/or New York", and Kumar Singh, described as a resident of New York, at the U. S. District Court for the District of Utah.

Holdwave Trading Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Man Proceeding in England by Nicholas Wood, Colin Diss, and Michael Leeds, as the Foreign Representatives of Holdwave Trading Limited, which allegedly "took part in laundering the proceeds of a significant, complex, and multinational fraud believed to have been committed against SCB [Standard Chartered Bank] (and other banks) originating with one of its customers, Winsome Diamonds and Jewellery Limited" and, inter alia, involved activity in England, India, the United Arab Emirates, and the USA,, filed at the U. S. Bankruptcy Court for the Southern District of Florida.

Oceanroad Global Services Ltd.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Man Proceeding in England by Nicholas Wood, Colin Diss, and Michael Leeds, as the Foreign Representatives of Oceanroad Global Services Limited, which allegedly "took part in laundering the proceeds of a significant, complex, and multinational fraud believed to have been committed against SCB [Standard Chartered Bank] (and other banks) originating with one of its customers, Winsome Diamonds and Jewellery Limited" and, inter alia, involved activity in England, India, the United Arab Emirates, and the USA, filed at the U. S. Bankruptcy Court for the Southern District of Florida.

James Barbee v. Amira Nature Foods Ltd. et al: Complaint

Complaint alleging securities fraud in James K. Barbee v. Amira Nature Foods Ltd., described as a seller of "Basmati Indian specialty rice" that is domiciled in the British Virgin Islands and based in Dubai, United Arab Emirates; Karan A. Channa, described as a resident of Dubai, UAE; Bruce C. Wacha, described as a resident of Norwalk, Connecticut; Varun Sethi, described as a resident of Dubai, UAE, and Brian M. Speck, described as a resident of Somerville, New Jersey, at the U. S. District Court for the District of New Jersey.

MAN Corp SA et al v. Innovate Mining Solutions LLC et al: Complaint

Complaint alleging fraud in MAN Corp S.A., of Switzerland, and MAN International DWC-LLC, of Dubai, in the United Arab Emirates v. Innovate Mining Solutions LLC, of Florida; Innovate Solutions Ltda RUT, of Chile, and Fernando E. Duque Cardoze, described as a citizen of Panama, at the Circuit Court of the 17th Judicial Circuit, in and for Broward County, Florida.

Ashish Dave: $1.7M Fine & Industry Ban

Decision Notice by the Dubai Financial Services Authority that it has imposed a fine of $1.7 million and financial industry ban on Ashish Bhrugu Dave regarding his conduct as Chief Financial Officer of the Abraaj Group.

Blackbird Capital LLC v. SION Trading FZE et al: Order Allowing Email Service

Memorandum Decision and Order Granting Plaintiff's Motion for Leave to Serve SION Trading FZE by Email due to its owner, Max Warren Barber, "avoiding service" in Blackbird Capital LLC v. Worth Group Capital LLC, of Wyoming; Justin Ely, of Utah; Halls Law Office, of Idaho; Scotia International of Nevada, Inc., of Utah; SION Trading FZE, of Ral Al Khaimah, of the United Arab Emirates; Max Warren Barber, of Utah; NaPo Limited, described as "a company located and incorporated in Bridgetown, Barbados, and Saint Lucia"; Nikolas Korakianitis, described as a citizen of Canada; GT Foundation, described as "a private interest foundation founded in Panama City, Panama" that "may have an office in London, England and/or New York", and Kumar Singh at the U. S. District Court for the District of Utah.

Exential Investments Inc.: Chapter 15 Petition

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the British Virgin Islands by Russell Crumpler and David Standish, as the Foreign Representatives of Exential Investments Inc., which is part of the Dubai-based Exential Group that allegedly perpetrated a fraud in which "investors lost investments in the range of at least $250 - $500 million", filed at the U. S. Bankruptcy Court for the Southern District of Florida.

Leo Middle East FZE et al v. EWI Capital LLC et al: Complaint

Complaint alleging investment fraud in Leo Middle East FZE, of the United Arab Emirates, and Leo Holdings Hong Kong Limited, of Hong Kong v. EWI Capital LLC, of Delaware, and Zhe Zhang, described as a resident of San Mateo County, California, USA, at the U. S. District Court for the Northern District of California.

AAF MENA Ltd.: $5K Fine

Public Notice by the Abu Dhabi Global Market Financial Services Regulatory Authority that it has imposed a fine of $5,000 on AAF MENA Ltd. for regulatory breaches.