Samuel Enegren

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    Nevis insurer, Bahamas ‘stock broker’ & Swiss ‘trust’ company sued for fraud in US

    Two dubious groups that have featured separately in exposés by OffshoreAlert appear to be business partners and have been jointly accused of perpetrating an advance fee fraud in a civil lawsuit filed recently in the United States. Certusia Reinsurance, whose operations include a Nevis-based insurer, and Nexxus One, whose operations include a Bahamas-based ‘securities' firm and a Swiss ‘trust' firm, are defendants in a complaint that was filed at the U. S. District Court for the Eastern District of California on May 1, 2007. 

    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.