Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.

'Not involved with First Cayman Bank fraud', claims Syed Asadullah Kazmi

September 19, 2014 by Syed Asadullah Kazmi


Get Free Alerts by Topic



you have posted my name and article Fraud First Cayman Bank. This issue was settled in the courts in United States and my name was dropped as i found not to be involved. Kindly take this off from the net as its not a true or correct statement. The fact is that no one was blamed and the matter was closed. [sic]

Syed Asadullah Kazmi



OffshoreAlert encourages lively, open debate and asks that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.



  • David Marchant
    By David Marchanton Tuesday, December 23, 2014 2:40:46 PM

    Kazmi's claim that a court found him to be "not involved" with the First Cayman Bank fraud is not accurate. Details of his involvement with FCB and an affiliate, Gulf Union Bank, are available in our database, including a judgment against him. After we informed Kazmi that the information would not be removed from our site and that his correspondence was "replete with lies", Kazmi responded in emails with: "Then a court order will get it removed. False and unfair reporting should not be allowed." and "Great see you in court."

    We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

    View Recent Digests

    Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
    David Marchant
    As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.