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    Oak Trust et al v. Equiti US LLC et al: Discovery Application

    Application by Oak Trust, Acorn Trust, Eagle Trust, Duffy Trust, Robert J. Parfet Living Trust, Geluk Global Fund Limited SAC, of the Bahamas; Migration Investments, LLC, of Colorado; Boustrophedon International Ltd., of Hong Kong; Michael R. Shea, Erin Shea, Angela Ling, Fuhua Ling, Philip Bullock, Lifang Liu, Justin Payne, Michael Dietzen, Kimberly J. Dietzen, Brian Sly, David K. Sly, Gregory Sly, Karen Sly, Nelson Sly, Helen S. Sly, Sly Family Trust, and Tamara A. Sly Separate Property Trust to take discovery from Equiti US, LLC, Gary Dennison, James Mason, and Kimberly M. Kirkland for use in "an anticipated proceeding" in England regarding allegations of "a fraudulent Forex trading scheme" involving Equiti Capital UK Limited, Mediatrix Capital Inc., Blue Isle Markets Inc., and Blue Isle Markets Ltd. and several jurisdictions, including the Bahamas, Belize, Cayman Islands, New Zealand, Saint Vincent and the Grenadines, and the United Kingdom, filed at the U. S. District Court for the Southern District of Florida.

    Pioneer Recovery Fund LP et al v. Amanda Wilson et al: Discovery Application (Bahamas)

    Application by Pioneer Recovery Fund LP and Champlain Investment Holdings Ltd., both of the Cayman Islands, to take discovery from Amanda Wilson, Pedro Santiago, Astrid Pillay, and Charles Holzer regarding "a series of purported frauds perpetrated by the late Mr. Lance Valdez and subsequent directors and officers of the Fund [Pioneer Recovery Fund], who used the Fund as the instrument of a fraud perpetrated against the Fund's founder, Vermeer Investments Limited" for use in legal proceedings in the Bahamas against Subacu Investment Partners LP, of the Bahamas; Beecham Ltd., of the Bahamas; Crescent Advisers Ltd., of the Cayman Islands; Pioneer Investment Management Ltd., of the Bahamas; Universal Corporate Limited, of Ireland; Jason Sweeney, Dasha Valdez, nee Dasha Pastoukhova, a resident of the Bahamas; London Capital Holdings Ltd., of the British Virgin Islands; PCH Ltd., of the Bahamas; Subacu Holdings Ltd., of the British Virgin Islands; Guam Investment Services, of the British Virgin Islands; 10 East 63rd Street Inc., of New York, and Amanda Wilson, of New York, filed at the U. S. District Court for the Southern District of New York.

    USA v. Bahamas Assets: Forfeiture Complaint

    Forfeiture Complaint in USA v. Mira Mar Villas, #15 Garden Drive, Paradise Island, Bahamas; Unit # 704, Ocean Place Condominiums, Paradise Island, Bahamas, and All Funds Frozen in Ansbacher (Bahamas) Ltd. Account 2003719.01 at the U. S. District Court for the District of Colorado.

    Ansbacher Bahamas sues Puerto Rico’s Bancrédito for ‘failure to remit $10M’

    For the third time in less than two years, Bancrédito International Bank has been sued for allegedly failing to remit funds to an offshore bank with which it had a correspondent bank relationship. The latest complaint - for $10M - filed yesterday by Bahamas-based Ansbacher and Lyford International Bank follows lawsuits for a combined $16.7M in 2017 and 2018 by Bahamas-based Capital Union Bank and Belize-based Choice Bank, respectively.

    Lester Turnquest, Jr. et al v. Hywel Jones et al: Fourth Affidavit of Receiver

    Fourth Affidavit of Receiver George Clifford Culmer in Lester Turnquest, Jr. and The Bonnycord Group Limited v. Hywel Jones, The Britannia Group Ltd., Hampton Insurance Company Limited, and Stephen Dickson at Bahamas Supreme Court. The Receiver, inter alia, accuses Lester Turnquest of failing to co-operate with the Receivership and of failing to disclose certain asset transfers.

    Ansbacher-affiliate sues transfer agent and clearing house over missing shares

    An affiliate of Ansbacher (Bahamas) Limited is suing a stock transfer agent and a securities clearing brokerage in the United States for allegedly misplacing $2.7 million of publicly-traded shares.Details are contained in a complaint that was filed by Chester Asset Holdings Limited, a British Virgin Islands corporation, against Computershare Shareholder Services Inc., which is incorporated in Delaware and based in Canton, Massachusetts, and Depository Trust Company, which is based in New York, NY, at the U. S. District Court for the Southern District of New York on March 5, 2007.

    UK police raid premises in Invaro investigation

    Police in the United Kingdom have raided at least three premises as part of a criminal investigation into a group whose insiders include some of the most notorious offshore fraudsters of recent years.

    Genesis Fund investigation leads to eight arrests

    Five people in California and three others in Costa Rica were arrested in May for allegedly swindling hundreds of investors out of tens of millions of dollars from 1994 to 2002 in an offshore investment scam.The arrests followed an 83-count indictment - unsealed on May 13, 2005 - at the U. S. District Court for the Central District of California concerning an unlicensed investment fund known as the Genesis Fund.

    Bahamas judge throws out Imperial Consolidated-related lawsuits, slams local law firm

    Three civil lawsuits filed at Bahamas Supreme Court against Ansbacher (Bahamas) Limited by investors in the fraudulently-operated Imperial Consolidated Group - which perpetrated a $400 million investment fraud in the United Kingdom and various offshore financial centers - have been thrown out in farcical circumstances. In a written judgment dated November 15, 2004, Justice Hugh Small was scathing about the competency of the law firm of Collie & Collie, representing all of the plaintiff investors who, OffshoreAlert understands, collectively paid it at least $80,000 in legal fees.

    Insider Talking: March 31, 2004

    A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,

    Ansbacher asserts superior claim over $32 m judgment debtor

    Ansbacher (Bahamas) Ltd. is seeking to prevent a United States bank from partially collecting on a $32 million judgment against an airline based in El Salvador, which is a mutual client. Ansbacher alleges it has a superior claim to Wells Fargo Bank Northwest over $228,993 held in accounts belonging to TACA International Airlines S.A. at the Bank of America, in Fort Lauderdale, Florida.

    UK Police raid homes of former Imperial Consolidated officers

    Police in the United Kingdom have raided the home of suspected investment fraudster Lincoln Fraser, a former principal of the failed Imperial Consolidated Group. The raid on Orford Hall on the site of an old RAF Air Station in Binbrook, Lincolnshire, England took place on Tuesday, February 3, 2004, according to two sources.

    Imperial Consolidated victims sue Ansbacher for US$54 million

    Nearly 500 victims of the Imperial Consolidated fraud have filed a lawsuit in which they seek to hold offshore provider Ansbacher responsible for their entire losses of over £30 million (US$54 million). The complaint was filed against Ansbacher (Bahamas) Ltd. at the Bahamas Supreme Court on January 30, 2004 by 486 plaintiffs located in several countries.

    Insider Talking: December 31, 2003

    Investors who were defrauded in the Cash 4 Titles Ponzi scheme can expect to receive a dividend of approximately one-third of their recognized losses, according to Philip Stenger, the SEC Receiver responsible for administering claims; Four offshore companies and their registered agents have been trying to prevent their local regulator in the Turks & Caicos Islands from having access to their records; Also at the TCI Supreme Court, John E. Rutley Jr. has filed a lawsuit against Timothy Prudhoe, Christian Papachristou, Melbourne Wilson and Stephen Wilson, sued as and on behalf of the partners of McLeans law firm, formerly McLean McNally; Financial criminals operating in six offshore centers in the Bermuda-Caribbean region can breathe more easily next year with news that the Miami, Florida-based White-Collar Crime Investigation Team, is being disbanded on March 31, 2004 due to the withdrawal of funding by the United Kingdom government; The capacity of sales people for UK-based due diligence information provider World-Check to tell outrageous lies to potential customers in an attempt to secure a sale appears to know no bounds. FirstRand, the South African parent of Ansbacher (Cayman) Ltd., has agreed to pay 25 per cent of the amount being sought by the Irish government to cover the costs of an offshore tax investigation carried out by a panel known as the McCracken Tribunal, reported the Irish Examiner newspaper on December 19, 2003; and The Australian Securities & Investments Commission has obtained an interim order appointing a receiver over Queensland-based Comcash Australasia Pty Ltd., which it claims was operating an unregistered investment scheme in conjunction with SMC Corporation, of Dominica.

    Insider Talking: February 28, 2003

    Christopher Stone, ex-Managing Director of now-defunct, Dominica-based Investors Bank and Trust Ltd. was released from custody in Belgium in February on bail of 125,000 Euros, said a source; A default judgment for $130 million was entered against Bahamas-registered Vavasseur Corp. at the U. S. District Court for the Western District of Virginia on February 21, 2003 for its part in an international Ponzi scheme; Grenada Supreme Court issued a $125 million judgment against Van Arthur Brink, a.k.a. Gilbert Allen Ziegler, former head of the First International Bank of Grenada; Allen Wheatley, former Financial Secretary of the British Virgin Islands, was sentenced to serve five months in prison on February 17 after being found guilty of corruption charges; Cayman Islands-based businessman Kenneth Dart has acquired a 5.7 per cent stake in financially crippled, Bermuda-based insurance firm Mutual Risk Management; British trader Sean Alexander Quinn, 36, was released from prison in Barbados on December 5, 2002 after pleading guilty to an amended charge of money laundering; Receivers for the fraudulently-operated asset planning group Merrill Scott & Associates have found $1.03 million of assets in the Cayman Islands; The Bahamas Ministry of Finance expects to receive a report on the status of the financially-troubled Bahamas International Securities Exchange in the first week of March, 2003; The number of companies incorporating in the Cayman Islands has steadily decreased over the last three years, according to a report by Cayman Net News based on information provided by the Registry General; Florida-based Briton Edward Myles Chism Jr., 63, was taken into custody in Florida on February 7, 2003 - one day after being criminally indicted on three counts of tax evasion at federal court in Miami; Bermuda may be about to lose its grip at the top of the offshore world; and The Irish Minister for Justice has applied to Ireland's High Court for an order directing the Cayman Islands branch of Ansbacher International to pay US$3.1 million to cover the costs of a long-running inquiry into corruption and tax evasion.

    Two new lawsuits filed in Evergreen Security bankruptcy

    Two new civil lawsuits have been filed against parties believed to have contributed to the collapse of Evergreen Security, an unlicensed 'mutual fund' that is believed to have defrauded investors of approximately $200 million.On July 9, 2002, Evergreen's Bankruptcy Trustee, Bill Cuthill Jr., announced he had sued Bahamas resident Greg A. White for an amount that could exceed $50 million.

    Bahamas resident sued for more than $50 million by Evergreen Security’s Bankruptcy Trustee

    A civil complaint has been filed against Bahamas resident Greg A. White as part of the investigation into Evergreen Security, whose principals defrauded its clients of more than $200 million.The action, which seeks to recover more than $50 million, was filed at the United States Bankruptcy Court for the Middle District of Florida, in Orlando, by Evergreen's Chapter 11 Bankruptcy Trustee, R. W. (Bill) Cuthill, Jr.

    76 lawsuits filed against Evergreen Security brokers

    Seventy-six new lawsuits have been filed by the Bankruptcy Trustee of a fraudulently-run offshore 'mutual fund' known as Evergreen Security, which is insolvent by approximately $200 million. The actions, which have been filed in Florida, seek to reclaim more than $8.1 million that was allegedly fraudulently transferred by way of commissions to promoters of Evergreen.

    Insider Talking: April 30, 1998

    David Walsh, the former head of Bre X Minerals, tried to close a bank account in the Bahamas and take out his entire deposit of $25.3 million two weeks after an audit revealed concluded that the supposedly rich Busang gold

    Ansbacher fires its New York correspondent bank

    Ansbacher (Bahamas) Ltd. has fired its New York correspondent bank for providing confidential information about its account to the IRS without notifying the offshore bank first.And Ansbacher itself has been reprimanded by the Central Bank of the Bahamas for failing to inform the body quickly enough that the IRS was seeking information about its clients.

    Interamerican Asset Management Fund allegedly used in multi-million dollar fraud

    A Bahamas-based mutual fund was used by one of Ecuador's best-known business families to defraud investors and the Central Bank of Ecuador out of approximately $160 million, it has been claimed.And the scandal has extended to the United States where the Federal Reserve Board has taken steps to safeguard the financial position of the Pan American Bank, in Miami.Both the Bahamian mutual fund - the Interamerican Asset Management Fund Limited - and the Pan American Bank were set up by the powerful Ortega family of Ecuador.