Accounting

Writ of Summons in M-Invest Limited (in Voluntary Liquidation) v. Ernst & Young Limited (Cayman) and Ernst & Young Limited (Bermuda) at the Grand Court of the Cayman Islands.

Fifth Report of Liquidators of Grand Island Funds filed at the Grand Court of the Cayman Islands.

Indictment by USA against Beda Singenberger at the U. S. District Court for the Southern District of New York.

Writ of Summons by Grand Island Master Fund Limited, Grand Island Income Fund, Grand Island Commodity Trading Fund and Grand Island Commodity Trading Fund II against KPMG that was filed at the Grand Court of the Cayman Islands on April 1, 2011.

Fourth Report of Liquidators of Grand Island Funds filed at the Grand Court of the Cayman Islands.

St. Kitts & Nevis based accountant Malchus Irvin BonCamper, who has featured in several OffshoreAlert articles over the last 10 years concerning his involvement in illegal activity, is in custody in Texas after being criminally indicted on multiple counts of

Amended Writ of Summons in Lewis Rowe v. Daniel Scott, Richard Fogerty, and G. James Cleaver at Grand Court of the Cayman Islands.

Complaint filed by Vault Global Opportunities LP, Vault Global Opportunities Master Fund Ltd., and Vault Global Opportunities Offshore Ltd. against Rothstein Kass & Co. and JD Clark & Co. at New York State Supreme Court.

Third Report of Liquidators of Grand Island Funds filed at the Grand Court of the Cayman Islands.

KPMG (Cayman Islands) is among the defendants in a new Bernard Madoff related lawsuit.The Tremont Insurance Plaintiffs' Litigation Trust filed a complaint against KPMG LLP, KPMG (Cayman Islands), KPMG International Cooperative, Bank of New York Mellon and SHL Capital Ltd.

A final default judgment for $150,000 has been entered against Bahamas based accountant Philip Galanis at federal court in West Palm Beach regarding a personal guarantee that he provided for real estate construction loans that are in default.The judgment was

Indictment by USA against St. Kitts and Nevis-based accountant Malchus Irvin BonCamper for alleged fraud.

Originating Summons filed by BDO against Ariel Fund Ltd. (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Cayman Islands domiciled hedge fund auditor Eisner (Cayman) Ltd. is being sued for negligence by an investor that claims to have been defrauded of $40 million.Eisner (Cayman), with an address of Sagicor House, North Church Street, George Town, Grand Cayman,

KPMG (Cayman) and its Delaware domiciled affiliate KPMG LLP have been dismissed from a civil complaint brought by seven offshore and onshore hedge funds that lost $116 million in Bernard Madoff's Ponzi scheme.Their motion for dismissal from the case of

Bermuda based fund administrator Meridian Fund Services and accounting firm Ernst & Young (Bermuda) are among the defendants in a civil complaint filed by a British Virgin Islands domiciled hedge fund that claims to have lost $2 million in a

The Bankruptcy Trustee of two hedge fund groups that allegedly lost $1.5 billion due to fraud is suing auditor McGladrey & Pullen (Cayman) and related parties.Ronald R. Peterson, as Chapter 7 Bankruptcy Trustee for Lancelot Investors Fund LP, Lancelot Investors

Writ of Summons in the case of Herald Fund SPC v. Ernst & Young and Ernst & Young SA at the Grand Court of the Cayman Islands.

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

A second civil complaint in less than three months has been filed against Cayman Islands based auditor McGladrey & Pullen regarding a failed offshore hedge fund.The latest complaint is a class action that was filed at the U. S. District

Complaint in Tradex Global Master Fund SPC Ltd., The ABL Segregated Portfolio 3, and The Original Segregated Portfolio 3 v. Lancelot Investment Management LLC, Gregory Bell, Thomas DeMaio, McGladrey & Pullen LLP, and McGladrey & Pullen Cayman at the U. S. District Court for the Northern District of Illinois.

The Cayman office of hedge fund auditor Rothstein Kass & Company is among the defendants in a class action lawsuit filed by investors in Bernard Madoff feeder funds operated by a Texas based investment manager.The complaint was filed at the

PricewaterhouseCoopers LLP and PricewaterhouseCoopers (Bermuda) have paid the State of New Jersey $5.85 million to resolve allegations of fraud and accounting improprieties at Tyco International Ltd., according to a press release issued by New Jersey's Attorney General, Anne Milgram, on

Complaint in Dan R. Waller, as Receiver for Dobbins Offshore Ltd. v. KPMG Accountants BV, formerly KPMG Accountants NV;  Citco Fund Services (Curacao) NV, Inter Caribbean Services Ltd., and Tortola Corporation Company Ltd. at the U. S. District Court for the Northern District of Texas.

Writ of Summons filed by TCB Creditor Recoveries Ltd. against Morris Cottingham & Co., formerly known as Morris Cottingham & Co., at the Grand Court of the Cayman Islands.

A civil complaint has been filed in the Cayman Islands against Arthur Andersen LLP for alleged negligence concerning audits of a failed Cayman Islands-licensed bank.The action has been filed at the Grand Court of the Cayman Islands by Christopher Johnson, as liquidator of Trade and Commerce Bank, which went into liquidation in August, 2002.

Malchus Irvin R. Boncamper, A.F.M. Trust and Corporate Ltd., AFM Trust & Corporate Services, and A.F.M. Services Group - Warning by Nevis Financial Services.

The liquidators of three offshore firms have filed two civil lawsuits in the U. S. in which they are seeking nearly $1 billion from the main banker and auditors of the Parmalat food and milk processing group.They have alleged a

Writ of Summons in National Warranty Insurance Risk Retention Group (in Liquidation) v. Deloitte & Touche (a firm), Ian Wight, Richard Douglas, Michael Pilling, Glen Wigney, Deloitte & Touche USA LLP, Deloitte & Touche LLP, Deloitte Consulting LLP, and Milliman Inc. at the Grand Court of the Cayman Islands.

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

The liquidators of an offshore hedge fund that collapsed owing approximately $300 million have filed a civil complaint in New York against its former controllers, auditor and administrator.The complaint was filed by Theo Bullmore and Philip Stenger, as joint official

Investment group Lines Overseas Management, which claims to have nearly $1 billion of assets under administration, is refusing to provide information about allegedly illegal trading activities to its own auditor, as well as the Bermuda Monetary Authority and the SEC

Three offshore firms have filed a civil complaint against accounting firm BDO Seidman in an attempt to recover $170 million of losses from a collapsed factoring scheme.The complaint, whose sole cause of action is professional negligence, was filed at the

Two prominent Bermuda businessmen were arrested at their offices on May 6 by police investigating the alleged theft of $145,000 from a development company.They are Arthur Jones, 52, who owns Bermuda's biggest realtor, Coldwell Banker JW Bermuda Realty, formerly Jones

A new lawsuit has been filed against PricewaterhouseCoopers (Bermuda) in connection with its auditing of scandal-plagued Tyco International Ltd., which is also registered on the island.The action was filed by Paul Manko and Shelley Evans, derivatively and on behalf of Tyco, at the Superior Court for Suffolk County, Massachusetts on February 12, 2004.

Arthur Andersen (Bermuda) is being sued for damages over its work for a Bermuda registered telecommunications group which filed for bankruptcy in 2002.The Andersen group earned "millions of dollars in fees" from FLAG Telecom, including $1.35 million in 2000 alone,

Deloitte & Touche has offered $32 million to settle a class action lawsuit filed on behalf of shareholders of the British Virgin Islands registered Manhattan Investment Fund who bought shares between October, 1995 and January, 2000. D&T's Bermuda office audited

The Arthur Andersen group is in such structural chaos that a Bermuda-based mutual insurer for accounting firms has more than $10 million to pay out but does not know where to send it.Professional Asset Indemnity Ltd., of Bermuda, and its wholly-owned subsidiary, PAIL Vermont Insurance Company, of Vermont, is so confused that it has taken the matter to court.

ESG Re, which provides reinsurance in the accident and health market, has filed a civil complaint against its former auditor, Deloitte & Touche, which it blames for much of its current troubles. The complaint was filed against the U. S.,

As the criminal trial of two former executives of Bermuda domiciled Tyco International Ltd. got underway in New York this month, the firm's former Bermuda auditor was seeking the dismissal of a civil lawsuit in which it is a defendant

Arthur Andersen's Bermuda registered captive, Professional Services Insurance Company Ltd., is seeking to enter into a Scheme of Arrangement with its creditors.An order was issued at Bermuda Supreme Court on November 14, 2002 granting the firm's application to meet with

PricewaterhouseCoopers filed a $1 billion IPO with the SEC on May 2 in a spin off of its management consulting and technology services division under the umbrella of a Bermuda domiciled holding company.The IPO for PWCC Ltd., which was incorporated

KPMG has resigned as auditor of LaSalle Re due to a conflict of interest.The accounting firm cited "a potential independence issue arising from a personal relationship between an officer of LaSalle Re and a member of the firm of KPMG not working on the LaSalle Re audit", stated a press release issued by the reinsurer.