A Barbados-licensed insurer whose dubious activities were exposed two years ago by OffshoreAlert was named as a defendant in two civil lawsuits filed over a two-day period at federal courts in the United States during July. Strategy Insurance Ltd. was sued at the U. S. District Court for the District of Utah on July 15, 2008 and at the U. S. District Court for the District of Nevada on July 16, 2008.
Deposition of Kevin Hamilton for a libel complaint filed by Hamilton against KYC News, Inc. and David Marchant at Ontario Superior Court of Justice, Canada.
A publicly-listed company in the United States whose subsidiaries include an offshore insurer is being sued in New York by investors who claim they were victims of a $50 million securities fraud. Strategy International Insurance Group Inc., whose shares are currently trading on the Over-The-Counter Bulletin Board at just six cents per share, misrepresented its assets and concealed “material negative facts” about some of its “principal executives and directors” in a private placement memorandum, according to the plaintiffs, who include investment funds in the British Virgin Islands and Cayman Islands.
Confidential Private Placement Memorandum for securities issued by Strategy International Insurance Group Inc. and Strategy Real Estate Investments Ltd.