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.
A 13 month old criminal indictment against two individuals and two corporations involved in offshore gaming has been unsealed in the United States. Defendants William Paul Scott, 65 Jessica Pauline Davis Dyett, 35 Soulbury Ltd., a “bearer share” corporation formed
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.
Indictment in USA v. Kevin Michael McGeever, a.k.a. Caoimhim Michael McGeever, and Douglas Elliott Johnson at the U. S. District Court for the Central District of California.
Two businessmen whose investment group includes an offshore IBC that was held out to the public as an investment fund have had arrest warrants issued against them in the United States. British national Sendjer Shefket, 43, and U. S. citizen Yen Lung Chen, 51, have been accused of operating a high yield investment scam.
The Bank of New York's one-time biggest single shareholder, Bruce Rappaport, no longer controls shares in Antigua-licensed Global Bank of Commerce Ltd., formerly known as Swiss American Bank Ltd.Antigua's International Financial Sector Regulatory Authority approved a change of ownership at a meeting on December 18, 2001.
The Imperial Consolidated fraud has taken a further turn for the bizarre with the distribution in September of several press releases, masquerading as news stories, by a newly incorporated British company called Matrix International (Management) Ltd., whose commercial address is
A man who at one time was listed as a Director of Grenada-registered Meridian Investment Bank has been accused of defrauding 59-year-old twin sisters out of $550,000 in a civil lawsuit filed in the United States. California-based Burdett Hale Streeter is alleged to have conned the women out of their savings by selling them into a "High Yield Investment Program" and other schemes that were described as "risk free".
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.
AS&K denies it is merging with Truman Bodden & Co. (Cayman), Neville Grant, resigns as head of the Cayman Islands Monetary Authority, Montserrat revokes offshore banking license of Equity Bank and Trust Company Limited, Grenada's Ambassador to the United States, Denis G. Antoine, makes a fool of himself while defending Grenada's offshore financial sector, illegally-operated offshore 'bank' continues in business despite regulatory action, sham 'Monaco Bank of Trade' tries to lure Internet users by offering absurdly-high rates of return, Russian businessman Vladimir Momitko dismantles web-site in which he sought to breach the copyright of financial publishers.
The names of the new shareholders in the Bahamas International Securities Exchange are expected to be announced in January. A list of all 45 companies that submitted subscription applications for the recent $5 million private placement has been submitted for
Links to the Internet gaming industry have embarrassed the Bank of Bermuda and contributed to the termination of its correspondent banking relationship with Swiss American Bank in Antigua. The bank, which is based in a jurisdiction that prohibits gambling, except for special events such as 'Cup Match', insists that it does not provide banking services to on-line gaming operators. However, more than a dozen gaming web-sites claiming to be licensed in Antigua and Venezuela have been informing gamblers for several months that they can open up accounts by wire transferring funds into Bank of Bermuda accounts at Citibank in New York and Midland Bank PLC in London.
One of the architects of Antigua's new anti-money laundering laws has written to the US Treasury protesting its recent issuance of an Advisory warning that all transactions with Antiguan financial institutions should be treated as suspicious. US-based attorney Carlos E. Loumiet conceded that there were "a few shortcomings" in Antigua's new legislation but he claimed the US had ignored the "numerous positive changes in bank supervision in Antigua and Barbuda over the past two years designed to clean up the offshore banking sector in that country".
The US government has lost its bid to recover $7 million from banks in Antigua, Panama and Switzerland that were the proceeds of marijuana smuggling carried out in Massachusetts. Judge William Young, of the Federal District Court for the District of Massachusetts in Boston, dismissed a lawsuit brought against Swiss American Bank and Swiss American National Bank (both of Antigua), Swiss American Holding Company S.A. of Panama and Inter-Maritime Bank of Geneva.
A funny thing happened a few days after our expose of The Highlander Club in last month's Offshore Alert. I received from them a spam letter - sent a week before we published - stating "Congratulations You have been approved
A battle for legal jurisdiction between the US government and four offshore financial institutions in a $7 million forfeiture case contains a number of important issues that will affect all companies and individuals who operate offshore but have US clients.Among arguments being put forward by the US government for jurisdiction over banking entities located in Antigua, Switzerland and Panama is the fact that the offshore companies sell their services over the Internet, which can be accessed in the US; that Swiss American Bank has advertised in the in-flight magazine of American Airlines; and that SAB has correspondent banking relationships with banks in the States.
Readers who followed last month's story about the US government's lawsuit accusing four banks and the Antiguan government of illegally divvying up $7 million in drug profits might be interested to know that Antigua recently appointed the banks' owner, Bruce Rappaport, as its Ambassador to Russia.The appointment of Rappaport to this official position on December 3, 1997, adds an interesting twist to the recent lawsuit brought by the US government against the Antigua-based Swiss American Bank group and Inter-Maritime Bank, of Geneva.