David Brown

    Sergey Gaponyuk v. Evgeny Alferov et al: TRO Motion (‘$3M CryptoKG Fraud’)

    Motion for Temporary Restraining Order in Sergey Gaponyuk v. Evgeny Alferov, described as a citizen of Ukraine; Sergey Gaponyuk, described as a citizen of Ukraine; Sergei Kolosovskii, Mihail Vershinin, Alexander Chernov, David Brown, and Natalia Abramova at the U.S. District Court for the Eastern District of California.

    Bermuda and Curacao funds used to launder $125M fraud proceeds, say police

    Offshore funds in Bermuda and Curacao - ADG Absolute Diversified Growth Fund and Enterprise Emerging Markets Fund - were used by fraudsters in India to launder the proceeds of a $125 million investment scam by Bombay Stock Exchange-listed technology firm Geodesic Ltd., according to Mumbai police.

    11 new insurers & $10 b of capital hurtle towards Jan. 1 renewal bonanza

    At least eleven new insurers have incorporated in Bermuda over the last two months, bringing with them capital that is likely to top $10 billion once financing has been completed. If Jan. 1 policy rates are as high as many expect them to be, these firms will have not so much a license to offer insurance as one to print money. All have set themselves capital-raising targets from $500 million to $1.5 billion, with $1 billion being the most popular target figure.

    Costa Rica: Luis Enrique Villalobos Camacho et al

    Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Costa Rica into Osvaldo Villalobos Camacho, Luis Enrique Villalobos Camacho and Freddy Villalobos Camacho for allegedly laundering the proceeds of narcotics trafficking by Bertrand Henri St-Onge, Sandra Kerwin St-Onge, Luc St-Onge, Richard Rivers and Norman Denault.

    David Brown and Grant Gibbons walk away from Gemini Re

    Former Centre Solutions boss David Brown and Grant Gibbons, Bermuda's former Minister of Finance, are no longer part of Gemini Re Holdings, OffshoreAlert can reveal. Brown was the President and CEO of the proposed reinsurer, while Gibbons was the Chief Financial Officer and Treasurer.

    David Brown’s ‘no downside’ $20 m share loan

    Former Centre Solutions boss David Brown can hardly lose in his new venture, Gemini Re Holdings, which recently filed a prospectus with the SEC in relation to a planned $400 million IPO.

    Gemini Re Holdings files SEC prospectus for $400 million IPO

    Bermuda-registered Gemini Re Holdings Ltd. today filed an S-1 registration statement with the SEC as the first step towards a proposed $400 million IPO. It is intended at this stage that the offering, which is being handled by Merrill Lynch and Chase Securities, will be valued at $15 per share and that the shares will be listed on NASDAQ.

    Insider Talking: December 31, 1998

    An interesting column was published in the Turks & Caicos Islands Free Press on November 26 in which Opposition MP Norman Saunders argued that the government must statutorily hold a General Election by February 17, 1999 when it would have ruled for precisely four years; Still in the Turks & Caicos Islands, where the strangest things often happen. New Chief Justice Richard Ground halted the trial of a man charged with two counts of possession of cannabis and possession with intent to supply after two jurors were seen getting into the same taxi as the defendant and the defendant's main witness following the end of the first day of the trial; Nowhere does a country's politicians have a more one-sided or forgiving relationship with God than in the Cayman Islands; The Cayman government has spent considerable amounts of tax-payers' money to take out a court injunction against the local Caymanian Compass newspaper to prevent those same taxpayers from seeing all or part of the monopoly agreement the government has with the much-reviled telecommunications carrier Cable & Wireless; As regular readers of this newsletter should be aware, we recently caught Lines Overseas Management salesman Scott Oliver lying to potential clients about his credentials by claiming he was on the board of advisors of the International Exchange Bank of Bermuda, which does not exist; and Grant Gibbons, who was Bermuda's Finance Minister until the UBP lost the General Election on November 9, has been appointed a founding director of a newly-formed holding company that intends to raise $1 billion for a life and annuity reinsurer.

    Grant Gibbons involved with proposed $1 billion Bermuda reinsurer

    Former Bermuda Finance Minister Grant Gibbons has been appointed a founding director of a newly-formed holding company set up to raise $1 billion for a new reinsurer in Bermuda, we can disclose. The involvement of Gibbons, who is part of one of the most influential and wealthiest families in Bermuda, is a shot in the arm for the project, whose existence we revealed last month.

    Insider Talking: February 27, 1998

    Buyers of luxury property in Bermuda in 1997 include John Deuss, Reg Grundy, Britons Michael Butt, David Brown, and Ernest Stempel, First Cayman Bank liquidators defend size of fees, Ken Dart turned down for permanent residency in Cayman Islands, John Tugwell wanted to be Bank of Butterfield's Chairman, as well as CEO, say sources; Bermuda Sun newspaper to start publishing twice a week, Thomas Azzara's 'Tax Havens of the World' book contains several inaccuracies, nearly half of all births in Bermuda in 1996 were out of wedlock.