Asset Recovery

Motion for Default Judgment in USA v. All Funds on Deposit at UBS AG in Name of Wegelin & Co. at the U. S. District Court for the Southern District of New York.

Complaint for declaratory judgment in David Quinones v. The Intriago Group, Inc. at the Circuit Court for the Eleventh Judicial Circuit, Miami-Dade County, Florida.

Application by RTI Limited to issue subpoenas to The Bank of New York Mellon Corporation, Deutsche Bank Trust Company Americas, JPMorgan Chase N.A., and Citibank N.A. for use in legal actions pending in Cyprus and Russia regarding alleged corruption, fraud, and kickbacks by a former employee of United Company Rusal PLC group of companies.

Third Application by Otkritie International Investment Management Limited, of the British Virgin Islands; Otkritie Securities Limited, of England, and Otkritie Financial Corporation JSC, of Russia, to take discovery from the Bank of New York Mellon, Barclays Capital, Deutsche Bank Trust Company Americas, J.P. Morgan Chase Bank, N.A., Standard Chartered Bank, and Wells Fargo Bank, N.A. for use in legal proceedings in England, filed at the U. S. District Court for the Southern District of New York.

Complaint in Fairfield Sentry Limited (in liquidation) and Kenneth Krys v. Somers Nominees (Far East) Limited, HSBC Bank Bermuda Limited, formerly known as The Bank of Bermuda Limited, and Beneficial Owners of Accounts held in the names of Somers Nominees (Far East) Limited 1-1000, filed at the U. S. Bankruptcy Court for the Southern District of New York.

In a lawsuit that was filed yesterday in the Cayman Islands, property developer Michael Ryan was accused of misappropriating assets from companies involved with The Ritz-Carlton, Grand Cayman luxury hotel and residences development.

Application for the Appointment of a Commissioner - pursuant to a request for judicial assistance from the United Kingdom - to collect evidence for a criminal investigation into John Hirst, Daniel Hirst, Richard Pollett, Linda Hirst, and Zoe Waite for suspected money laundering and investment fraud.

Order requiring Thomas C. Priore and ICP Asset Management LLP to produce documents In the Matter of ICP Strategic Credit Income Master Fund Ltd. at the Grand Court of the Cayman Islands.

Fifty-two creditors who are owed US$9.8 million by a Cayman Islands-based financial services group known as 'SEGOES' that was fraudulently-operated by U. S. national John Kaweske will receive a liquidation dividend of just one per cent.

USA's Statement Of Material Facts As To Which There is No Genuine Dispute In Support Of Its Motion For Summary Judgment To Strike The Claim Of European Federal Credit Bank Limited (in liquidation) and the Answer of Liquidators of Eurofed Bank Limited (in liquidation) in USA v. Funds Associated With Pavlo Lazarenko at the U. S. District Court for the District of Columbia.

Brazilian national Solano Lima Pinheiro is seeking records from Citibank in New York in an attempt to recover damages nearly 22 years after Naji Nahas allegedly committed one of Brazil's most notorious securities frauds, causing the collapse of Pinheiro's broker-dealer.

Motion to Set Aside Default in Universal Trading & Investment Co., Inc. v. Yulia Tymoshenko at the U. S. District Court for the Southern District of New York.

Originating Application in Irving H. Picard, as Trustee for the substantively consolidated SIPA liquidation of Bernard L. Madoff Investment Securities LLC and the Estate of Bernard L. Madoff, v. First Peninsula Trustees Limited, as Trustee of the Ashby Trust, and Port of Hercules Trustees Limited, as Trustee of the El Prela Trust, at the British Virgin Islands High Court.

Offshore hedge fund Maxam Absolute Return Fund, Ltd. has stated is "likely to appeal" a court order in the U. S. that it must discontinue a complaint it filed at the Grand Court of the Cayman Islands against Irving Picard, as Trustee for the Liquidation of Bernard L. Madoff Investment Securities LLC.

Mired in debt and fraud allegations, offshore businessman Jerry James, President of The Offshore Institute and founder of Colorado-licensed American International Depository & Trust, has died, apparently by suicide.

Application by Broadsheet LLC, of the Isle of Man, to take discovery from The Estate of Edgar Jerome James, a.k.a. Jerry James; Steeplechase Advisors LLC, a.k.a. Steeplechase Financial Services LLC, a.k.a. Steeplechase Capital LLC; Broadsheet LLC, Sovereign Corporate & Fiscal Services (Colorado) LLC, and Douglas M. Tisdale, Sr. for use in arbitration proceedings in Ireland "against the Government of Pakistan", filed at the U. S. District Court for the District of Colorado.

Amended Statement of Claim in CIGNA Worldwide Insurance Company, by and through its court-appointed Receiver Foday Sesay and in respect of the assets, undertakings, and affairs of its licensed Liberian branch and business, v. ACE Limited at the Grand Court of the Cayman Islands.

The United Kingdom is seeking records from The Ritz Carlton hotel in Atlanta, Georgia for a criminal investigation into two convicted narcotics traffickers.Details are contained in an application for the appointment of a Commissioner to collect evidence - pursuant to

Application for the appointment of a Commissioner to collect evidence for an investigation in the United Kingdom into recovering the criminal proceeds of convicted narcotics traffickers Marvin Campbell and Duwayne Russell.

A British Virgin Islands domiciled hedge fund claims to have been defrauded of $4.3 million by a New York based law firm and its management, including Emanuel Zeltser, a Russian born, U. S. citizen specializing in anti money laundering and

Letter to the Editor of OffshoreAlert from Martin Kenney and Dan Wise regarding the Angelus Hotel.

A company secretly controlled by British fraudsters Lincoln Fraser and Jared Brook has gone into liquidation with an estimated net deficiency of £94,614 (approximately US$170,000). Matrix International (Management) Ltd., d.b.a. Matrix Investigations, went into creditors' voluntary liquidation by way of an extraordinary resolution passed by its shareholders on April 6, 2004 - nearly 19 months after being formed on September 17, 2002.

A British law firm has taken legal action against the operators of an asset recovery scheme that has targeted victims of the fraudulently-operated Imperial Consolidated Group. Pinsents filed a lawsuit against Matrix International (Management) Ltd., d.b.a. Matrix Investigations, and Barclays Bank Plc at the UK High Court on December 16, 2003.

A leading UK law firm has pulled out of a dubious asset recovery scheme after OffshoreAlert alerted them it was being organized on behalf of the crooks who were responsible for the loss of assets.Pinsents acted swiftly after being informed

Nevis continues to strive for independence A long anticipated vote for independence in Nevis will be coming. So here is the why, what will happen, and the some dark clouds. Nevis is part of the Federation of St. Kitts and

Unsecured creditors of one of the main companies within the Imperial Consolidated Group have been told to expect a dividend of approximately 11 cents in the dollar. That is the "estimated outcome" for parties owed money by Imperial Consolidated Financiers Ltd. as forecast by the firm's administrators, Philip Lyon and Steve Woods, of Mazars Neville Russell.

The Imperial Consolidated Group swindled the United States Securities & Exchange Commission out of approximately $1 million in 1998, according to evidence contained in a judgment at the High Court in the United Kingdom. It was part of a catalog

Victims of a securities fraud perpetrated by Panama-based Morrison Cross Financial Investments are being contacted by a bogus law firm offering 'assistance' in recouping their investments.OffshoreAlert has obtained a copy of a letter sent to an MCFI client on November 26, 2002 by "Bruce Porter" of "Carter Sprott & Porter LLP", with an address and telephone number in Texas.

There are few industries more susceptible to fraud than insurance, where premiums are paid by insureds who hope the insurer will honor a claim that may or may not be made in the future.As shareholders and clients of Stirling Cooke

Imperial Consolidated administrator Mazars Neville is warning victims of the Imperial fraud to be wary of approaches for money by Weddington Holdings Ltd., which may be an advance fee fraud.Weddington has been telephoning and emailing clients of Imperial and asking them for $2,500 each to purportedly fund an "Asset Recovery Program" outside of that being conducted by Mazars Neville.

OffshoreAlert is holding its 1st Due Diligence & Asset Recovery Symposium at the Hotel Inter Continental in Miami on November 18, 2002.Attendance costs $295 for people who sign up by October 18 or $345 thereafter.Since it was first published in

Investors who bought shares in a Bahamas-based firm whose principals promptly closed shop and disappeared are being asked for $100,000 to finance what is being described as an 'asset recovery' effort.It might be a case of throwing good money after bad, however, given the track record of the people spearheading the venture.

International asset recovery firm Interclaim is suing its former law firm for allegedly cutting it out of a settlement deal with a crook who made tens of millions of dollars by ripping off the elderly. Interclaim Holdings Ltd. and Interclaim Recovery Ltd. filed a lawsuit against Ness Motley Loadholt Richardson & Poole at the US District Court for the Northern District of Illinois on December 4, 2000.

British businessman Leslie Wingham has asked victims of an alleged multi-million fraud that he operated in Antigua for additional money to fund a so-called recovery effort. In a letter to "Investors and Agents of Accord Trading/Accord Insurance and EMRW" dated November 27, 2000, Wingham asked for at least $1,000 each from his victims.

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.

The clearest indication yet that the UK government will force its Overseas Territories to co-operate with foreign regulators investigating both fiscal and regulatory offences was given this week to Offshore Alert.Offshore centres like Bermuda, the Cayman Islands, the Turks & Caicos Islands and the British Virgin Islands are being told by the UK government to introduce within two years legislation that will be virtually identical to the UK Criminal Justice (International Co-operation) Act 1990.