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Bahamas attorney plays key role in group accused of securities fraud

Bahamas-based attorney Anthony Thompson has emerged as a key player in another securities scheme by a group whose allegedly fraudulent activities were exposed in the previous edition of OffshoreAlert. Thompson is the sole officer and director of two offshore companies that beneficially own 43.8% of the common stock of Reliant Home Warranty Corporation, a Florida-registered, Canada-based “mortgage banking” firm whose shares are currently trading for six cents each on the Over-The-Counter Bulletin Board in the United States.

Bermuda insurance license reject goes to Barbados, teams up with dubious group

A wannabe Bermuda insurer whose license application was turned down in 2004 has resurfaced in Barbados, where it has teamed up with a group whose principals include a convicted criminal. The Barbados Supervisor of Insurance issued an insurance license to River Reinsurance Limited on December 16, 2005. 

Parent of offshore insurer accused of $50 m securities fraud

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.