Bank of New York

Application by JSC BTA Bank, of Kazakhstan, to take discovery from The Clearing House Payments Company LLC and "thirteen intermediary banks", namely Bank of America NA, Bank of China, The Bank of New York, BNP Paribas USA, Citibank NA, Commerzbank AG, Deutsche Bank Trust Company, HSBC Bank USA NA, JPMorgan Chase Bank NA, Société Générale AG, Standard Chartered Bank, UBS AG, and Wells Fargo Bank NA regarding Saint Vincent and the Grenadines-domiciled Panolos Limited for use in legal proceedings in England "against BTA Bank's former chairman, and primary shareholder, Mukhtar Ablyazov, upon BTA Bank's discovery that Ablyazov had illegally misappropriated as much as $7.5 Billion of BTA Bank’s assets and subsequently laundered the proceeds through multiple financial institutions all over the world", filed at the U. S. District Court for the Southern District of New York.

Ex Parte Application by Kuwait Ports Authority to take discovery from Citibank and E-Trade Financial Corporation for use in "impending litigation" in the Cayman Islands regarding "fraud and other wrongdoing related to KPA's investments in and business dealings with: (1) KGL Investment Company KSCC; and (2) the private equity fund, The Port Fund L.P." estimated at "hundreds of millions of dollars", filed at the U. S. District Court for the Southern District of New York.

Ex Parte Petition by the Republic of Kazakhstan to take discovery from GLG LLC for legal proceedings involving Anatolie Stati, Gabriel Stati, Ascom Group, SA, and Terra Raf Trans Traiding Ltd., filed at the U. S. District Court for the Southern District of New York.

Ex Parte Petition by the Republic of Kazakhstan to take discovery from Jefferies & Co. for legal proceedings involving Anatolie Stati, Gabriel Stati, Ascom Group, SA, and Terra Raf Trans Traiding Ltd., filed at the U. S. District Court for the Southern District of New York.

Ex Parte Petition by the Republic of Kazakhstan to take discovery from Linklaters LLP for legal proceedings involving Anatolie Stati, Gabriel Stati, Ascom Group, SA, and Terra Raf Trans Traiding Ltd., filed at the U. S. District Court for the Southern District of New York.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the United Kingdom by Svitlana Romanova, as the Foreign Representative of Metinvest BV, at the U. S. Bankruptcy Court for the District of Delaware.

Forfeiture Complaint in USA v. Accounts at the Bank of New York Mellon and Clearstream Banking in the name of First Global Investments SPC and related parties at the U. S. District Court for the Southern District of New York.

Amended Complaint in Universal Trading & Investment Co., Inc. v. Yulia Tymoshenko, Alexander Tymoshenko, and Andrey Vavilov at the U. S. District Court for the Southern District of New York.

USA's Amended Offer of Proof in USA v. Dan Oaheyoh Two Feathers at the U. S. District Court for the District of Montana.

Complaint in Universal Trading & Investment Co., Inc. v. Yulia Tymoshenko at the U. S. District Court for the Southern District of New York.

Philip Baker's Plea Agreement in a criminal action styled as 'USA v. Philip J. Baker' at the U. S. District Court for the Northern District of Illinois.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Czech Republic into David Marasek and Jaroslav Machalicky for alleged tax evasion and misappropriation of funds.

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Stephen Akers, Mark Byers, and Andrew Hosking, as the Foreign Representatives of Madoff Securities International Limited, at the U. S. Bankruptcy Court for the Southern District of Florida.

Indictment of Philip Baker for alleged investment fraud involving the Lake Shore Group of Companies.

Complaint in USA vs. Bank of Cyprus Plc at the U. S. District Court for the Southern District of New York.

Former offshore services provider Marc Harris, who was sentenced to serve 17 years in prison on May 17, 2004 after being convicted by a jury of conspiracy to defraud the USA, money laundering and tax evasion, turned down a pre-trial offer from prosecutors that would have seen him receive just three years in prison in return for a guilty plea, according to a recently-filed court paper in Miami; New information about what is shaping up to be the latest big offshore hedge fund scandal recently became publicly available in filings at the U. S. District Court for the Northern District of Illinois, where the U. S. Commodity Futures Trading Commission is trying to close down Lake Shore Asset Management Limited, which is incorporated in Bermuda; and Former offshore specialist Nigel Scott Grant, who once participated in a Nevis-based investment scam while working as an attorney in California, is being sued in Florida for allegedly failing to pay legal fees of $16,125 to a Miami-based law firm, Levey, Airan, Shevin, Roen, Kelso, Corona & Herrera LLP.

A contempt of court motion has been filed in the United States against a Bermuda-based firm that manages several hedge funds registered in the British Virgin Islands and also has ties to Canada and Switzerland.Lake Shore Asset Management Limited, which is believed to manage at least $466 million, has refused to turn over documents to the Commodity Futures Trading Commission in breach of a Statutory Ex-Parte Restraining Order issued seven days earlier, stated the regulator in its contempt motion at the U. S. District Court for the Northern District of Illinois on July 3, 2007.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Spain into Jose Juan Redon de Diego and Christopher Stephen Russell for alleged misappropriation and forging of official documents.

Investigators in Argentina are seeking records from HSBC Bank, in Miami, for use in a criminal investigation into a sophisticated fraud involving the diversion of telephone calls as part of a scheme to drain funds from victims' bank accounts.Details are

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Argentina into alleged fraud by unknown parties.

Wachovia Bank is trying to avoid turning over records to the Antigua Government for an investigation into alleged corruption by former Prime Minister Lester Bird, offshore banker Bruce Rappaport and others. The North Carolina-domiciled bank has applied for a protective order in a civil complaint filed by the Government of Antigua and Barbuda at the Eleventh Judicial Circuit Court for Miami-Dade County, Florida on February 23, 2006. 

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Mike Morrison and Charles Thresh, as Foreign Representatives of Hatteras Reinsurance Ltd., at the U. S. Bankruptcy Court for the Southern District of New York.

Complaint in Paul Gargano v. Zimmer & Associates LLC and Ronald Zimmer, d.b.a. Zimmer & Associates, at the U. S. District Court for the Eastern District of Massachusetts.

Article based on an application to collect evidence for a criminal investigation into alleged fraud and embezzlement - pursuant to a request for judicial assistance from Russia - that was filed at the U. S. District Court for the Northern District of Florida on March 6, 2006. Individuals and businesses mentioned in the request for assistance include Vitali Nicolaevich Daginov, JSC Kalmneft, Glencore International AG, Glencore Oil Projects AG, GOPAG, Briarwise International Limited, Amerco Oil International Ltd., Glenarch Limited, Gilda Trading Co. Ltd., Ladesco Trading Co. Ltd., World Chess, Parus Management, James Joseph Chrysler, Rima Jokubauskite, Rima Shestakova, Bank of Washington, The Bank of New York, Bankers Trust Company, Credit Suisse First Boston, Citibank N.A. (New York), Artem Vitalievich Daginov, Saglara Erdniwvna Daginova Kokshunova, Gilana Vitalievna Daginova, Galina Daginova, Gilana Daginova, Lloyds Bank Plc (Guernsey), Credit Agricole Indosuez (London), and Riga Neftehimbank.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into Vitali Nicolaevich Daginov for alleged theft from Kalmneft JSC, Glencoe International AG and Briarwise International Ltd.

Article based on an application to collect evidence for a criminal investigation into alleged money laundering - pursuant to a request for judicial assistance from the United Kingdom - that was filed at federal court on December 23, 2004. Individuals and businesses mentioned in the request for assistance include Advantex Group LLC, Erdbeer Group LC, Anatoly Kazachkov, Lawrence Gillick, Neil Turnbull, Jointplain Limited, Single Market Sources (UK) Limited, Promstroyservis (PSS), Ferguson Dewar Solicitors, Royal Bank of Scotland, Central European International Bank, Bank of Montreal, Nesbit Burns Hedge Fund, Bank of New York, Andrew DewarVefbank JSC

Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Antigua & Barbuda - for a criminal investigation into Lester Bryant Bird, Asot A. Michael, John E. St. Luce, Robin Yearwood, and Bruce Rappaport for suspected corruption and fraud.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into suspected money laundering by Anatoly Kazachkov and others.

A controversial wine based investment firm appears to have abandoned the Cayman Islands in the wake of Hurricane Ivan - allegedly leaving behind substantial debts.Architects of Wine Ltd. closed down its Grand Cayman office in September, owing rent and several

Article based on an application to collect evidence - pursuant to a request for judicial assistance by Belgium - that was granted at federal court in the USA on April 22, 2004. Individuals and businesses mentioned in the request for assistance include Didier Meimoun, a.k.a. Didier Meimoun Santerre, a.k.a. Didier Santerre, a.k.a. Didier Abaroudi, a.k.a. Daida Meimoun; Silvia Lescure, Anita Winckler, M&M International, M&M Distribution or M&M Interest, SPRL M&M Distributions, SPRL DMS Market Globus, M&M Group, M&M Europe, M&M Helvetia, M&M Diffusions, M², M³, M&M Swisswatch, Black Stone Services SA, Lucky Invest SA, N&N SA, Bank Vontobel AG, UBS AG, BNP, Chase Manhattan, Mellon Bank, Sanwa Bank, Bank of America, Bank of New York, Citibank, Salomon Smith Barney, KeyBank, Gilles Benisti, Frederic Toussaint, Michel Pallacci, Eddie Levon, Stephane Noel, Claude Hec, and Simon Bretholz.

Complaint in USA v. All Funds on Deposit at Bank Julius Baer & Company, Ltd., Credit Suisse (Guernsey) Limited, and Eurofed Bank Limited in the names of Pavlo Lazarenko, Pavel Lazarenko, Samante Limited, and Alexander Milchenko at the U. S. District Court for the District of Columbia.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belgium into Didier Meimoun for alleged fraud.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Portugal into Orlando Xavier Mourao and and others for alleged fraud.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Trinidad & Tobago into Namcaran Singh, Cosmas Bonaparte, Horace Blake, Robert Paladino and others for alleged corruption.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Germany into Olaf Weiland for alleged investment fraud.

The Bank of New York has signed an agreement to acquire the assets of International Fund Administration Ltd.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Neil Edward Walker, James George Thomas Brooman, Ian David Cale, Irnraan Abid Karim, Barrie John Connor, Timothy Theobald, David Hodgson, Simon Morley, Craig Mark Ireland and Iftekhar Ahmed for alleged tax fraud.

Two businessmen whose interests have included Bahamas investment firms and a Bermuda reinsurer have been criminally indicted in the United States for their alleged involvement in a massive investment fraud.Jon Knight, 56, and J. Anthony Huggins, 63, stole $6.5 million from an account at the Bank of Butterfield in the name of British Virgin Islands-registered Evergreen Security, according to the complaint.

A claim by St Vincent &the Grenadines that it is serious about combating financial crime was dealt a blow on November 22 when it allowed suspected money launderer Thierry Nano to avoid an arrest warrant.Nano flew from the island on

ARGENTINA: A report in Argentina points at money laundering; BOLIVIA: New interim President in Bolivia; CHILE: Trouble in the skies; PERU: More repercussions in Fujimori-Montesinos case; and PANAMA: Going bananas in Panama.

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Ukraine into Ukrainian Food Enterprise Ltd. for alleged tax fraud.

The names of the new shareholders in the Bahamas International Securities Exchange are expected to be announced in January. A list of all 45 companies that submitted subscription applications for the recent $5 million private placement has been submitted for

Offshore Alert's story about the banking/insurance scam that appeared in last month's edition of the newsletter has created quite a stir in the Caribbean. Several newspapers in the region followed up on the scandal, including those in Nevis, St. Vincent and Bermuda, and we received requests for assistance from the Royal Canadian Mounted Police and the the FBI.

A battle for legal jurisdiction between the US government and four offshore financial institutions in a $7 million forfeiture case contains a number of important issues that will affect all companies and individuals who operate offshore but have US clients.Among arguments being put forward by the US government for jurisdiction over banking entities located in Antigua, Switzerland and Panama is the fact that the offshore companies sell their services over the Internet, which can be accessed in the US; that Swiss American Bank has advertised in the in-flight magazine of American Airlines; and that SAB has correspondent banking relationships with banks in the States.

Readers who followed last month's story about the US government's lawsuit accusing four banks and the Antiguan government of illegally divvying up $7 million in drug profits might be interested to know that Antigua recently appointed the banks' owner, Bruce Rappaport, as its Ambassador to Russia.The appointment of Rappaport to this official position on December 3, 1997, adds an interesting twist to the recent lawsuit brought by the US government against the Antigua-based Swiss American Bank group and Inter-Maritime Bank, of Geneva.

The Bank of New York's Cayman branch is being sued for allegedly failing to repay deposits placed by the Federal Directorate of Supply & Procurement in Yugoslavia and for allegedly transferring US$2.1 million to a blocked account on Wall Street without the client's permission.