Motion for Modification of Court Order and to Supplement Commissioner Appointment regarding a request from Antigua & Barbuda for judicial assistance for a criminal investigation into Lester Bird, Asot Michael, Josette Michael, Bruce Rappaport, Sir Ronald Sanders and others for suspected involvement in fraud, corruption, and money laundering.
Wachovia Bank is trying to avoid turning over records to the Antigua Government for an investigation into alleged corruption by former Prime Minister Lester Bird, offshore banker Bruce Rappaport and others. The North Carolina-domiciled bank has applied for a protective order in a civil complaint filed by the Government of Antigua and Barbuda at the Eleventh Judicial Circuit Court for Miami-Dade County, Florida on February 23, 2006.
About 80 per cent of all assets realized in the first 12 months of the liquidation of British litigation funding firm Invaro Ltd. have gone to a Canadian shell entity controlled by serial fraudster Bill Godley. That was the statistic that jumped out of the first report to creditors and members by liquidators Tony Murphy, Robert Horton and Henry Shinners, of Smith & Williamson, on July 21, 2005.
Three civil lawsuits filed at Bahamas Supreme Court against Ansbacher (Bahamas) Limited by investors in the fraudulently-operated Imperial Consolidated Group - which perpetrated a $400 million investment fraud in the United Kingdom and various offshore financial centers - have been thrown out in farcical circumstances. In a written judgment dated November 15, 2004, Justice Hugh Small was scathing about the competency of the law firm of Collie & Collie, representing all of the plaintiff investors who, OffshoreAlert understands, collectively paid it at least $80,000 in legal fees.
Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Antigua & Barbuda - for a criminal investigation into Lester Bryant Bird, Asot A. Michael, John E. St. Luce, Robin Yearwood, and Bruce Rappaport for suspected corruption and fraud.
Former insiders of two U. K. litigation funding scams that collapsed with combined losses of nearly $500 million are behind a recycled version of the same scheme, OffshoreAlert can reveal. The new business - operating under the brand name 'Strathmore' - encompasses companies in the Bahamas, Canada, the United Kingdom and Africa.
Nearly 500 victims of the Imperial Consolidated fraud have filed a lawsuit in which they seek to hold offshore provider Ansbacher responsible for their entire losses of over £30 million (US$54 million). The complaint was filed against Ansbacher (Bahamas) Ltd. at the Bahamas Supreme Court on January 30, 2004 by 486 plaintiffs located in several countries.
Following the collapse of their insolvent financial group in St. Vincent & the Grenadines amid suspicions of fraud, the principals of Omnicorp Bank and its affiliates are starting a new investment scheme based in Cyprus. The management is the same as Omnicorp's and includes Canadians Nelson Bayford, Lloyd Merrifield and Gary L. Moore, the latter of whom settled an SEC stock fraud lawsuit in 2000 by agreeing to disgorge $24,175.
Imperial Consolidated's UK administrator is seeking an investigation into the sale of group assets to Imperial's ex management by accounting firm Pannell Kerr Forster.Mazars Neville Russell has also indicated that it may challenge fees that were paid to PKF for
The results of an independent geological survey of 4.5 million acres of land in Argentina to which the Imperial Consolidated Group has mining rights are expected to be known by the end of August. They will go a long way to determining the level of dividend creditors can reasonably expect, said a spokesman for Imperial's UK-based administrator, Mazars Neville Russell.
First Swedish Savings, formerly known as First Baltic Savings, is being investigated by the Swedish Financial Supervisory Authority (Finansinspektionen).First Swedish maintains identical web-sites at www.firstswedish.com and www.firstbaltic.com where, inter alia, it promotes an "offshore hedge fund" called Athena Growth Fund, which, apparently, is "a registered trademark and dba of (sic) Direct Trading Partners (Nevis) LLC".
Meridian Investment Bank, whose principals include a plumber and an officer with the Canadian Space Agency, has become the latest bank in Grenada to have its license revoked amid allegations of fraud.MIB's banking license was revoked effective September 4, 2001
A Miami-based attorney representing the British-based Imperial Consolidated financial services group sent a letter to Offshore Business News & Research on February 7, 2001 stating that a lawsuit will be filed against OBNR and its principal, David Marchant, on Thursday, February 15, 2001 unless we retract "a plethora of libelous and slanderous statements" allegedly made against the group.
In an attempt to more accurately gauge the expectations of investors when they go offshore, we decided not to close last month's Internet poll on offshore investing but to keep it going indefinitely; Approximately 1,911 investors have filed claims totaling US$189.3 million, according to the latest report by the Receiver of the Cash 4 Titles alleged Ponzi scheme, which operated largely out of the United States, the Cayman Islands and the Bahamas; Controversial businessman Yank Barry, who hails from Montreal in Canada, has been given his passport back by Judge Lynn Hughes sitting at the U. S. District Court for the Southern District of Texas, where Barry is awaiting trial on eight counts of bribery, fraud and money laundering; The Panama Supreme Court has still not ruled on a dispute between The Harris Organization and La Comisión Nacional de Valores (National Securities Commission), which ordered the suspension of the financial services group's operations for operating without a license; The State of Washington Department of Financial Institutions Securities Division has issued a Cease and Desist Order against Grenada-registered Joie De Vie Ventures Inc., which Offshore Alert exposed earlier this year, and Arthur Kilner, d.ba. Kilner Enterprises Ltd.; and We recently contacted Bill Wallace, of Pannell Kerr Forster, in Nassau, to ask how his accounting firm was able to perform a competent audit of several Bahamas and Grenada-registered mutual funds operated by the Imperial Consolidated Group when the BVI-registered companies upon which the funds' solvency entirely depends do not appear to be audited.
An unlicensed, unaudited mutual fund group into which over 550 investors invested approximately $13.2 million has been forced into Receivership by the Bahamas Securities Commission. It has triggered a bitter legal battle for control of the Hawthorne-Sterling family of funds between their Receiver, accountant Clifford Culmer, and their founder, American Ian L. Renert.