Mark Cooke

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    Mark Cooke

    Bermuda bans British insurance boss Mark Cooke (25 years after he was exposed by OffshoreAlert)

    Twenty five years after OffshoreAlert exposed an estimated $1 billion fraud he oversaw with Goldman Sachs, 64-year-old British insurance boss Mark Cooke has been banned from Bermuda's insurance industry for his conduct regarding subsequent businesses whose owners have included entities in the British Virgin Islands, Cayman Islands, England, Guernsey, and USA.

    Mark Cooke: Disqualification

    Press Release by the Bermuda Monetary Authority that it has disqualified Nicholas Mark Cooke, a citizen of the United Kingdom, after concluding he was "not a fit and proper person to perform any functions in relation to regulated activity under the Insurance Act".

    Karl Eller et al v. UBS AG et al: Notice of Removal

    Notice of Removal in Karl Eller, Joan Eller, and The University of Arizona v. UBS AG, UBS AG, Stamford Branch; UBS AG, London Branch; and UBC (Cayman) Ltd. at the U. S. District Court for the District of Arizona.

    Goldman Sachs settles Stirling Cooke litigation for $450,000

    Funds controlled by Goldman Sachs have paid $450,000 to settle litigation brought by the Bankruptcy Trustee of Bermuda domiciled ex insurance broker AlphaStar Insurance Group, formerly known as Stirling Cooke Brown Holdings, which collapsed in 2003 after committing a fraud

    Stirling Cooke Bankruptcy Trustee seeks return of ‘fraudulent’ transfers

    Ten weeks after a judge dismissed the main counts of an $80 million claim against Goldman Sachs and others, the Bankruptcy Trustee of Bermuda-based AlphaStar Insurance Group Ltd., formerly known as Stirling Cooke Brown Holdings Ltd., has filed an amended complaint in which he is seeking reduced damages of just $815,638. The amended complaint was filed at the U. S. Bankruptcy Court for the Southern District of New York on April 29, 2008 by Richard E. O'Connell, the Bankruptcy Trustee of AlphaStar and several related entities.

    Goldman Sachs & Stirling Cooke’s D&O win legal victory regarding alleged fraud cover-up

    An action in New York to hold Goldman Sachs and several former officers and directors of Bermuda-based Stirling Cooke Brown Holdings Ltd. liable for allegedly "squandering" $80 million of the fraudulently-operated insurance broker's corporate assets has failed. On February 19, 2008, Chief U. S. Bankruptcy Judge Stuart M. Bernstein dismissed all of the core counts alleging fraud and breach of fiduciary duty against the Goldman Sachs and the D&O defendants in a complaint brought by the group's Bankruptcy Trustee, Richard O'Connell, at the U. S. Bankruptcy Court for the Southern District of New York.

    Mark Cooke denies any involvement in Stirling Cooke fraud

    In a recently-filed, colorfully-worded court document that often reads like it could have been written by the man himself, rather than the attorney whose name appears as the author, it is aggressively denied that Stirling Cooke Brown Holdings co-founder Nicholas Mark Cooke was involved in any financial improprieties or had any meaningful role in the group's collapse.

    Stirling Cooke Bankruptcy Trustee sues Goldman Sachs, auditor, D&O, law firm for $80 m

    Goldman Sachs refused to pull the plug on one of the biggest frauds the insurance industry has ever known for fear it would de-rail the 137-year-old investment banker's own $3.66 billion IPO in May, 1999, it has been claimed.The extraordinary allegation appears in a civil complaint that was filed recently in the United States by the Bankruptcy Trustee of Bermuda-based broker AlphaStar Insurance Group Ltd., formerly known as Stirling Cooke Brown Holdings Ltd., and several of its subsidiaries and affiliates.

    Stirling Cooke claims expected to exceed $750 m, says Bankruptcy Trustee

    Potential claims arising from the fraudulent activities of a Bermuda based insurance broker's British subsidiary may exceed $750 million, says the firm's U. S. Bankruptcy Trustee.It means that Stirling Cooke Brown Insurance Brokers Ltd. committed “one of the largest frauds

    Stirling Cooke loses High Court judgment to Sphere Drake Insurance

    Two UK subsidiaries of the Bermuda-based AlphaStar Insurance Group, formerly Stirling Cooke Brown Holdings, have lost a UK High Court judgment that has implications for many related reinsurance lawsuits and arbitrations around the world.AlphaStar's share price fell from 13 cents to seven cents per share after the judgment was released today and many in the industry expect the decision to render the long-troubled firm insolvent.

    Stirling Cooke discloses that CIRCL is insolvent

    Goldman Sachs controlled Stirling Cooke Brown's problems worsened this month as the firm announced that its reinsurance subsidiary, Comp Indemnity Reinsurance Company Ltd., had become insolvent.News of CIRCL's insolvency was contained in the firm's 10Q filing with the SEC on

    Stirling Cooke shareholders approve name change

    Stirling Cooke Brown's shareholders voted at its AGM on May 23 to approve changing the firm's name to Atlantic Star Insurance Company Ltd. - a move which was disclosed two months ago in InsideBermuda. The make-over is part of a continuing attempt by the company to rid itself of the stench of its founders Nicholas Brown and Mark Cooke.

    Stirling Cooke: Where did the $1.4 million go?

    Stirling Cooke Brown Holdings has refused to explain a mysterious $1.4 million investment write-down that was disclosed in its latest 10Q filing with the SEC. The company is being so secretive about the write-down that it has created an irresistible impression that it has something to hide.

    New Stirling Cooke boss, Len Quick, is former defendant in RICO action

    Mark Cooke this month stepped down as CEO of Goldman Sachs-controlled Stirling Cooke Brown Holdings following the company's disastrous performance since going public in November, 1997. But the man promoted to temporarily replace him and steady the firm in the face of widespread fraud allegations was himself accused of impropriety with his previous employer, we can reveal. Len Quick, 57, who was previously the head of Stirling Cooke's North American operations, was elevated to Chief Operating Officer of the group and interim CEO until a permanent replacement for Cooke is found.

    Stirling Cooke files to dismiss Odyssey Re lawsuit

    Stirling Cooke Brown Holdings has filed a motion for early dismissal of the lawsuit brought in New York last month by Odyssey Re (London) Ltd. alleging racketeering and fraud."Our motion for early dismissal is Stirling Cooke's next step in aggressively

    Stirling Cooke might be up for sale

    April was yet another disastrous month for Stirling Cooke Brown Holdings as its share price fell by 60 per cent and KPMG Peat Marwick resigned as its auditor after just two years. The company also announced it planned to hire a financial adviser to "explore ways to boost shareholder value", a move which often signals that a company is considering putting itself up for sale.

    Carlos Miro: ‘Mark Cooke knew I was a crook but did business with me anyway’

    The seemingly never-ending flow of negative information that is passed our way about Bermuda-based Stirling Cooke Brown Holdings Limited continued this month when our attention was drawn to Page 43 of the 1994 'Wishful Thinking' report published by a US congressional sub-committee chaired by John Dingell. The content of this page formed part of a look at the illegal activities of Carlos Miro, who received a lengthy prison sentence in the US for insurance fraud in connection with his Louisiana-based company, Anglo-American Insurance, which also had a UK arm.