Case Studies

Europe’s Incredible €55B ‘CumEx’ Tax Fraud Scheme

The remarkable story of how a network of bankers, stock traders, and lawyers swindled Europe's taxpayers out of €55 billion in a scam involving dividend taxes, as exposed by a joint investigation by 19 European media from twelve countries, coordinated

Carousel VAT Fraud Schemes: An Analysis

This session will look at Carousel VAT fraud schemes, including The mechanics of carousel VAT fraud schemes Regulatory and enforcement options The role of investigative and intelligence consultancies in the prevention,

‘AHAB v. al-Sanea et al’: An Analysis of Cayman’s $126B Fraud Judgment

In a landmark ruling for the Cayman Islands in May, 2018, the jurisdiction's Chief Justice dismissed rival multi-billion dollar claims in a dispute between a Saudi Arabian family and a Kuwait-born businessman. The case of 'Ahmad Hamad Algosaibi & Brothers Company v. Al-Sanea and others' involved allegations of a $126 billion fraud arising from one of the largest corporate collapses during the 2008 financial crisis. In his 1,300-page ruling, Chief Justice Anthony Smellie described the scheme at the heart of the dispute as "one of the largest Ponzi schemes in history". This session will analyze the long-running dispute, what it says about the Grand Court of the Cayman Islands' ability to handle complex litigation, the consequences of the judgment, and what it means for future litigation.

Offshore Intelligence: Behind Closed Doors

Investigators and others who specialize in offshore finance will discuss emerging key issues affecting the industry in the areas of transparency, beneficial ownership, products, services, trends, and anything else of importance and significance. The session will be informal and questions

1MDB: Dissecting One Of The World’s Biggest Financial Scandals

This session will look at extraordinary allegations of billion dollar fraud and corruption involving 1Malaysia Development Berhad, which is controlled by the Government of Malaysia and was set up ostensibly to facilitate long-term economic investment for the country through global partnerships and promoting foreign direct investment.

SEC Performance Review: Behind The Enforcement Statistics

After a thorough review of 15 years of SEC enforcement actions, Professor Urska Velikonja found that the widely-circulated statistics were invalid, and the metrics deeply flawed, with the SEC double and triple counting many of its enforcement actions and overstating fines.

Inside Wall Street: Fraud As A Business Model

This session will present evidence that fraud is not an occasional occurrence by rogue employees among Wall Street's major financial institutions and their service providers but is, in fact, a business model. This session will include looking at Wells Fargo's creation of millions of fake accounts to boost revenues.

Offshore Tax Fraud: Lessons Learned From ‘The USA v. The Billionaire Wyly Brothers’

This session will review the massive offshore tax fraud committed by the billionaire Texas business moguls Samuel Wyly and Charles Wyly, and the numerous financial planning errors that caused their collapse, including improperly-used offshore trusts, lack of minimal disclosure, overly complex structures, failed tax strategies and the inability to use current aggressive tax avoidance methods as a substitute.

How A Short-Seller Took Down NYSE-Listed Bermuda Reinsurer Gerova Financial

Short-seller Keith Dalrymple will discuss how he exposed Bermuda-domiciled, New York Stock Exchange-listed reinsurer Gerova Financial Group Ltd., contributing to its collapse, criminal indictments against Gerova's principals and a smear campaign against him and his investment research company.

Jersey Uncovered: Inside One Of The World’s Leading Offshore Jurisdictions

A sickening child-abuse scandal, a U.S. journalist banned from the jurisdiction simply for trying to conduct an investigation, money laundering scandals, endemic corruption and cover-ups galore. Is Jersey truly immoral to a degree that is scarcely believable or is it misunderstood? An attorney who is based on the island reveals all.

FIFA Corruption: The Qatari Plot To Buy The World Cup

The Sunday Times' 'Insight' investigative unit receive a cache of hundreds of millions of secret documents from a whistleblower detailing corruption and bribery within football's world governing body, FIFA, that led to Qatar being awarded the 2022 World Cup. The Editor of that unit will discuss the investigation and the evidence.

How Crime & Secretive Offshore Firms Are Behind London’s Property Boom

The United Kingdom property market, particularly in London, has become a notorious money laundering tool for Russian oligarchs and other wealthy individuals in recent years. As a result, real estate prices have been surging and an increasing number of properties are owned through offshore entities. This session will delve into the phenomenon, including providing case studies of abuse, identifying individuals involved and discussing their methods.

Inside The UBS & HSBC Leaks

OffshoreAlert has assembled a panel of the most important people in the history of whistleblowing to take you inside the UBS and HSBC leaks and discuss material issues, including the treatment of whistleblowers by law enforcement and tax collection agencies, how the system can be improved, the extent of global tax evasion and the involvement of the world's major banks.

Inside the Cayman Islands: The ‘Operation Tempura’ Affair

In this session, panelists with direct knowledge of 'Operation Tempura' will discuss the investigation, seek to explain why it experienced so many problems and offer their views on what it says about the Cayman Islands and its relationship with the United Kingdom.

The Cyprus Crisis: Could it Happen in Other OFCs?

This session will look at what caused the crisis, the financial impact on clients of Cyprus' offshore sector, which jurisdictions are likely to benefit from the problems, and whether the debacle could be repeated in other OFCs. Watch NowView Trailer

WATCH: Fraud & Murder in the Bahamas: The Hywel Jones Affair

The brother of murdered British businessman Hywel Jones will discuss the seemingly incompetent and/or corrupt police investigation into both his brother's death and an alleged $20 million fraud by Jones' former business partner, prominent Bahamian Lester Turnquest. This session will look at evidence of corruption in the Bahamas on a wider scale and go into problems that expatriate business people face when living and working in the jurisdiction.  EDITOR'S NOTE: The person who begins asking questions at the 50:16 mark is attorney Colin Callender, Managing Partner of Callenders & Co. law firm in the Bahamas. Although he did not disclose it when asking questions, Mr. Callender's law firm represents Lester Turnquest and, in fact, Lester Turnquest's brother, Stephen Turnquest, is a partner of Callenders & Co.   FREE - Watch Complete Session Now

Evaluating OFCs: Which Are Best and Why?

The Global Financial Centres Index is a ranking of the competitiveness of 77 financial centres based on 26,180 financial centre assessments from an online questionnaire together with over 80 indices. It is compiled and published twice a year by Z/Yen Group with sponsorship from the Qatar Financial Centre Authority. A representative of Z/Yen Group will discuss the quality of various OFCs and how they compare with their on-shore equivalents, based on Z/Yen's research. Watch NowView Trailer

The Global Shell Company Experiment: Offshore v. Onshore

Posing as would-be money launderers, corrupt officials, and terrorist financiers in need of anonymous shell companies, academics-turned-investigators approached more than 3,700 corporate service providers that operate in 182 onshore and offshore countries/jurisdictions. In this presentation, one of those investigators will discuss what they discovered. Watch Now View Trailer