A man who made a living selling offshore shell banks to unsophisticated clients who invariably used them to commit criminal activity has been sentenced to six months in prison.Jerome Schneider, 53, a resident of Vancouver, Canada, was sentenced at the U. S. District Court for the Northern District of California on December 6, 2004 - ten months after pleaded guilty to one count of conspiracy to defraud the United States. He was ordered to pay a fine of $4,000 and a $100 special assessment. He previously paid $100,000 in restitution.
Swiss financier Dieter Behring, 49, was arrested in Switzerland on October 19, 2004 on suspicion of financial investment fraud and money laundering, according to news service Swissinfo; Paradigm Holdings Limited, which has been implicated in an alleged scam involving investments in wine, was placed into provisional liquidation at the Grand Court of the Cayman Islands on October 12, 2004; The sentencing of former offshore bank charter broker Jerome Schneider for conspiracy to commit fraud, which was scheduled to take place in late October, has been postponed to December 6, 2004 at the U. S. District Court for the Northern District of California; As previously forecast by OffshoreAlert, a default judgment against Bermuda-based investment firm Lines Overseas Management Limited and RBC Dominion Securities Inc. has been thrown out at the U. S. District Court for the Southern District of Alabama; and LOM's principals, Brian and Scott Lines, have been accused of violating Section 13D of the Securities Exchange Act of 1934 by failing to timely disclose their beneficial ownership of River Capital Group Inc.
Offshore shell bank broker Jerome Schneider has agreed to help the IRS investigate his clients in return for a lenient sentence after pleading guilty today to one count of conspiracy to defraud the United States. "I will tell the government about any contacts I may have with any co-defendants or subjects of investigation, or their attorneys or individuals employed by their attorneys," states Schneider in his Plea Agreement dated February 11, 2004 filed at federal court in San Francisco, California.
In a dramatic turn of events, one of the offshore industry's most notorious businessmen, Jerome Schneider, appears set to plead guilty to one or more criminal charges against him in the United States. Schneider, who is out on bail, previously pleaded not guilty to 23 counts of wire fraud, mail fraud and conspiracy to commit fraud at the U. S. District Court for the Northern District of California.
Offshore promoter Jerome Schneider has a new attorney to handle his defense against criminal fraud charges after his previous one resigned over allegedly unpaid legal fees totaling $350,000. Permission for Joseph M. Burton, of Duane Morris law firm, to withdraw as Schneider's counsel was granted on December 12, 2003 at the U. S. District Court for the Northern District of California.
California-based attorney Eric John Witmeyer has received a non-custodial sentence in return for helping prosecutors with their case against his co-defendant and former business partner Jerome Schneider.Witmeyer was sentenced to one-year of probation and a $10,000 fine at the U. S. District Court for the Northern District of California on October 31, 2003.
A United States judge has ordered offshore bank broker Jerome Schneider to turn over his records to government prosecutors, who are prosecuting him with fraud.
Offshore bank broker and author Jerome Schneider has made his first court appearance in the United States since being criminally indicted on 23 counts of fraud on December 19, 2002. Schneider was arraigned at the U. S. District Court for the Northern District of California on January 30 and pleaded not guilty. He immediately posted a $100,000 corporate surety bond.
Offshore promoter Jerome Schneider and his alleged business partner, Eric J. Witmeyer, are expected to be arraigned next week after they were criminally indicted in the United States.Although they were indicted on December 19, 2002, neither was required to put in a court appearance by year-end, which prosecutors said was due to the difficulties of the Holiday season.
A well-publicized IRS investigation into the activities of U. S. citizen Jerome Schneider has done little to dampen his enthusiasm for aggressively promoting dubious offshore products.In October, OffshoreAlert was a recipient of a mass mailed, 24-page, color, glossy promotional brochure from Schneider titled "New Wealth Perspectives".
Nevis Trust Ltd. and Nevis resident Gillian Hobson are among several parties being sued for $9.6 million by the former owner of a Nauru registered bank who was recently imprisoned for fraud. A civil complaint was filed by Michael D.
Jerome Schneider, who has made a living by selling offshore bank charters in lightly-regulated jurisdictions to private individuals and by writing offshore books, had his office raided by the IRS on February 26. The raid on the office of Schneider's Wilshire Publishing Company in California was one of three high profile actions taken against offshore promoters within five days of each other in the United States.
Offshore regulators act against banks named in U. S. Senate's 'Correspondent Banking: A Gateway to Money Laundering' report, Marc Harris denounces attempt to strip him of Panamanian citizenship, David Voth comes up with a novel excuse as to why he can't make investment pay-outs, complaints about Morrison Cross Financial Investments start coming in, details of relatively-recent lawsuits involving Jerome Schneider and/or related entities, U. S. court approves settlement plan between Heartland Financial Services and investors who received "false profits", Pittsburgh travel agent Roy Davis Jr. becomes latest victim of John Mathewson's co-operation with US authorities, sset freeze order issued against Midpoint Trading Corporation, Euro Bank Corp. 'Preliminary Inquiry' hearing starts in Cayman Islands.
Jerome Schneider, the offshore author who specializes in selling 'paper' banks to clients who invariably use them to commit criminal acts, has filed a lawsuit against a reviewer of one of his books.
Mexico played host this month to two seminars organized by individuals and groups operating on the murkier side of the offshore world. Cancun was the venue over December 9-11 for the 'Offshore Wealth Summit', which was put on by Jerome Schneider, who is one of the most reviled figures in the offshore world.