Anguilla

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David Mintjal et al v. Professional Benefit Trust et al: Second Amended Complaint

July 21, 2011
Second Amended Complaint in David Mintjal and Therese Mintjal v. Professional Benefit Trust, Multiple Employer Welfare Benefit Plan & Trust, PBT Administration, LLC, Professional Benefit Trust, Ltd., Tracy Sunderlage, Linda Sunderlage, Sunderlage Resource Group Inc., Sunderlage Resource Group International Ltd. and Maven Assurance, Ltd. at the U. S. District Court for the Northern District of Illinois.

Project Honey Pot v. Andrey Chernuk et al: Second Amended Complaint

July 12, 2011
Second Amended Complaint filed by Unspam Technologies, Inc., d.b.a. Project Honey Pot, against Andrey Chernuk, Boris Livshits, St. Kitts-Nevis-Anguilla National Bank Limited, ZAO Raiffeisenbank, DnB Nord Banka, Bank Standard Commercial Bank CJSC, Azerigazbank, and Rietumu Bank at the U. S. District Court for the Eastern District of Virginia.

Stanford International Bank: A breakdown of where accounts are located

June 24, 2011
Account holders in several major offshore financial centers, including the Bahamas, Bermuda, British Virgin Islands and Cayman Islands, had substantial deposits at alleged fraudster Allen Stanford's Antigua licensed Stanford International Bank Ltd., a document obtained by OffshoreAlert shows.

Safe Harbor Bank Ltd.: Chapter 15 Petition

April 21, 2011
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in St. Vincent and the Grenadines by Graham Crabtree, as Foreign Representative of Safe Harbor Bank Ltd., at the U. S. Bankruptcy Court for the District of Massachusetts.

Richard G. Vento et al v. Duane Crithfield et al: First Amended Complaint

March 9, 2010
First Amended Complaint in Richard G. Vento, Lana J. Vento, Gail C. Vento, Nicole M. Mollison, and Renee S. Vento v. Duane Crithfield, Stephen P. Donaldson, Keithley Lake, Alliance Holding Co., Ltd., Alliance Royalties LLC, Alliance Royalties Inc., Westminster, Hope & Turnberry LLC, Westminster, Hope & Turnberry Ltd., First Fidelity Trust Ltd., Fidelity Insurance Co. Ltd., Foster & Dunhill Ltd., Fortress Family Office Group LLC, Offshore Trust Services LLC, Citadel Insurance Co., Ltd., BPS International LLC, Waterberry Ltd., AXA Holdings Co., AP Holdings, Ltd., New Hope Holdings Ltd., Handler Thayer & Duggan, LLC, Handler Thayer, LLP, Duggan Bertsch, LLC, James M. Duggan, Thomas J. Handler, and Steven J. Thayer at the U. S. District Court for the District of the Virgin Islands.

Insider Talking: August 19, 2009

November 19, 2009
U. S. businessman Robert F. X. Sillerman, whose assets include the hit television show 'American Idol' and the late Elvis Presley's estate Graceland, has satisfied a summary judgment for $24.2 million that was entered against him in favor of Credit

Caledonia management ‘destroyed records’, ex-chairman involved in new firm

November 19, 2009
Insiders at Bahamas based financial services firm Caledonia Corporate Management Group appear to have destroyed corporate emails shortly before putting the massively insolvent and allegedly fraudulently operated company into voluntary liquidation, according to liquidator Anthony Kikivarakis, of Deloitte & Touche

British American Insurance Company Ltd.: Chapter 15 Petition

October 9, 2009
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Bahamas by Juan Lopez, a.k.a. John Lopez, as the Foreign Representative of British American Insurance Company Limited, at the U. S. Bankruptcy Court for the Southern District of Florida.

Insider Talking: July 19, 2009

July 19, 2009
Bermuda based husband and wife financial advisors were charged with stealing $360,000 from one of their companies, Emerald Capital International Ltd., and laundering the proceeds during a hearing at Bermuda Magistrates Court on July 9, 209. David Bolden, 44, a

Credit Suisse (Cayman) sues US media tycoon Robert FX Sillerman

July 19, 2009
Two lawsuits for damages totaling more than $50 million have been filed at New York State Supreme Court against a well known entrepreneur over personal guarantees he provided for a luxury resort project in Anguilla. The sole defendant in both

Anguilla court deals blow to credibility of local regulator

May 18, 2009
Anguilla Financial Services Commission suffered a blow to its credibility on April 6, 2009 when the local High Court struck out its application to appoint an administrator for ten companies associated with offshore provider Joseph Brice, who has been criminally

Insider Talking: February 13, 2009

February 13, 2009
On January 12, 2009, Bermuda and the USA signed a Mutual Legal Assistance Treaty, pursuant to which each country can formally apply to the other to obtain information for criminal investigations. The Bermuda Government lauded the agreement as "yet another

Super Save Superannuation Fund: Chapter 15 Petition

December 12, 2008
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Australia by Barry Taylor, as the Foreign Representative of Super Save Superannuation Fund, at the U. S. Bankruptcy Court for the Southern District of New York.

Integrity Plus Unit Trust: Chapter 15 Petition

December 11, 2008
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Australia by Barry Taylor, as the Foreign Representative of Integrity Plus Unit Trust, at the U. S. Bankruptcy Court for the Southern District of New York.

Insider Talking: December 8, 2008

December 8, 2008
US Senator John Kerry intends to look into offshore tax evasion; First Curacao International Bank to "start repatriating" frozen assets; UK Government commissions review of offshore financial centers' Condor Insurance sued in California; and US criminally indicts Raoul Weil, Chairman and CEO of UBS Global Wealth Management and Business Banking and a member of the Swiss bank's Group Executive Board.

US couple alleges fraud against offshore asset protection group

August 4, 2008
A Kentucky-based husband-and-wife claim they were swindled after depositing US$1.9 million in an offshore tax planning and asset protection plan involving insurance, trust, and investment-management companies in Anguilla, the Bahamas, and Nevis. Dallen Wendt, 53, and his wife, Peggy Wendt, 50, were told the offshore products in which they invested during 2002 and 2003 carried "no-risk" and returned 8% and 8.5% annually, according to a complaint they filed at the U. S. District Court for the Northern District of Illinois on June 24, 2008.

UK Gov’t Committee expresses concern over corruption and fraud in Bermuda

July 9, 2008
The United Kingdom Government has been asked to provide details of any and all steps it has taken to ensure that corruption and fraud in Bermuda is "properly investigated".The request was made in a new report on British Overseas Territories by the Foreign Affairs Committee, which is appointed by the House of Commons to examine the administration, expenditure and policy of the Foreign and Commonwealth Office and its associated agencies.

Allegations of corruption in offshore financial centers highlighted in report to UK Gov’t

July 7, 2008
A new report on British Overseas Territories by the Foreign Affairs Committee of the United Kingdom Government has highlighted evidence of corruption in the Turks and Caicos Islands, Bermuda and Anguilla. By comparison, the British Virgin Islands and the Cayman Islands emerged relatively unscathed. The Committee has recommended that the UK Government sets up a Commission of Inquiry to investigate corruption in the TCI, encourages the Anguillan government to establish an "independent inquiry" to look into corruption, and details the steps it has taken to ensure that allegations of corruption in Bermuda are "properly investigated".

Former Baker & McKenzie partner Martin Weisberg indicted again

June 5, 2008
A New York-based securities attorney who became a major shareholder in a firm that was turned down for a Bermuda insurance license has been indicted in New York for the second time in nine months. Martin Eric Weisberg was indicted on ten counts of wire fraud and one count of money laundering at the U. S. District Court for the Eastern District of New York on May 22, 2008. He has pleaded not guilty.

Insider Talking: April 1, 2008

April 1, 2008
The board of directors of one of the offshore world's biggest reinsurers, ACE Limited, has decided to move its domicile from the Cayman Islands to Zurich, Switzerland; Offshore promoter David Rose indicted for the second time in six weeks in Kentucky; Anguilla limited partnership is relief defendant in SEC fraud complaint; and residents of the Bahamas "don't like credit cards", according to accused cash smuggler Edward Okun.

Switzerland: Dieter Behring et al (May 2006)

May 16, 2006
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Dieter Behring, Arthur Buck, Beat Bengerter, Jean Kampf, Peter Josef Weibel, Willy Wuthrich, Raymond Pousaz and Anita Zweifel-Reidy for alleged investment fraud, theft, forgery and money laundering involving Moore Park Funding and related companies.

Ex-US prosecutor accused of tax evasion conspiracy

April 21, 2006
Offshore corporations in Anguilla, the Bahamas and St. Lucia, including one operating as a bank, have been implicated in an alleged conspiracy to defraud the United States Government of tax revenue.Details are contained in an indictment against four individuals, including one who is both a former U. S. Attorney and state court judge, that was brought at the U. S. District Court for the Western District of North Carolina on April 4, 2006 and unsealed on April 18.

Switzerland: Dieter Behring et al (April 2006)

April 10, 2006
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Dieter Behring, Arthur Buck, Beat Bangerter, Jean Kampf, Peter Josef Weibel, Willy Wuthrich, Raymond Pousaz, and Anita Zweifel-Reidy for suspected fraud, embezzlement, forgery and money laundering.

Newt Utopia: St. Kitts & Drug Trafficking

April 6, 2006
St. Kitts: Noel Heath and Glenroy Matthew finally extradited to USA; Costa Rica: New tax bill on its way to becoming law; Anguilla: New laws passed dealing with insurance, protected cell companies and mutual funds; Dubai: Dubai International Financial Centre issues first hedge fund license.

PayPal records targeted by IRS in offshore tax evasion investigation

October 26, 2005
The IRS has asked a U. S. federal court for permission to serve a “John Doe” summons on Internet money transfer firm PayPal Inc. as part of a clampdown on tax evasion using offshore credit and debit cards.“The records requested in the summons will identify the holders of bank accounts at, or payment cards issued by banks in, the listed jurisdictions, information which is not otherwise readily available to the Internal Revenue Service,” stated the IRS in its petition.

Globe-X Management Ltd.: Section 304 Petition (Bahamas)

June 3, 2005
Section 304 Petition for Assistance in Insolvency Proceedings in the Bahamas by Clifford Johnson and Wayne Aranha, as the Foreign Representatives of Globe-X Management Limited and Globe-X Canadiana Limited, at the U. S. Bankruptcy Court for the Southern District of New York.

IRS receives permission to serve subpoena on First Data Corp.

August 12, 2004
The world's largest processor of credit card payments has been ordered by a United States court to assist the IRS in its investigation into tax evasion using offshore accounts.First Data Corp. must turn over information about transactions by holders of American Express, Visa and MasterCard credit cards that were issued by or on behalf of certain offshore financial institutions.

Cayman insurer accuses bank of withholding funds

January 31, 2004
A Cayman Islands-registered exempted insurer has accused a United States bank of withholding $467,582 of its funds.Star Insurance Company (Cayman) Ltd. claims to have been trying to gain access to the funds in six trust accounts at Wachovia Bank since March 4, 2003.

IRS accesses records of Florida card processor

December 21, 2003
A Florida-based firm which processes card transaction payments has been ordered to turn over its records to the IRS as part of an investigation into offshore tax evasion using MasterCard, VISA and American Express. An order issued on September 11, 2003 at the U. S. District Court for the Southern District of Florida allows the IRS to serve a "John Doe" summons on Credomatic of Florida Inc., of Brickell Avenue, Miami.

Investors in failed Cayman fund file fraud lawsuit

April 30, 2003
A lawsuit alleging fraud has been filed by multiple plaintiffs who say they invested approximately $79 million in three failed hedge funds, including Cayman Islands-domiliced Bristol Fund.

US court approves application to serve summonses on VISA International for tax evasion investigation

March 31, 2002
A California court has approved a request by the Internal Revenue Service for leave to file "John Doe" summonses on VISA International as part of an investigation into tax evasion using offshore credit cards. The order, issued on March 28, 2002, allows the IRS to examine the records of VISA credit or debit cards issued "by, through, or on behalf of banks or other financial institutions" in 31 offshore jurisdictions.

St. Vincent: Money Talks and Nano Walks

November 30, 2001
A claim by St Vincent &the Grenadines that it is serious about combating financial crime was dealt a blow on November 22 when it allowed suspected money launderer Thierry Nano to avoid an arrest warrant.Nano flew from the island on

Insider Talking: September 30, 2001

September 30, 2001
How concerned is the Financial Times newspaper about being used to facilitate fraud? Not enough to stop publishing bogus valuations for the Cayman Islands domiciled Aristocrat Endeavor Fund. The FT is continuing to accept and publish sham Net Asset Values

Hansa Bank and Trust sued by client

September 30, 2001
Anguilla-based Hansa Bank and Trust is being sued in Canada by a client who claims to have been defrauded of CDN$11.9 million (US$7.5 million). The action was filed by Vancouver resident Robert Edwards at the Supreme Court of British Columbia on July 12, 2001.

Insider Talking: March 31, 2001

March 31, 2001
Former Bermuda insurance boss John McGarrity resurfaces in the Bahamas, Turks & Caicos Islands regulators issue warning about Petro Funds, Bahamas resident Yank Barry goes on trial in Texas, default judgment entered in U. S. against American International Bank (in receivership), Bahamas union boss negotiates for employees of Suisse Security Bank & Trust, a private letter from FIBG principal Van Brink hints at corrupt payments to influential individuals in Grenada.

Barbados and Anguilla firms and Barbados attorney defendants in $323 m fraud lawsuit

November 30, 2000
Companies based in Barbados and Anguilla and a Barbados attorney are at the center of an investigation in the U.S. into an alleged $323 million insurance fraud. The investigation was launched after the liquidation on January 21, 1998 of Pennsylvania-based medical malpractice insurer PIC Insurance Group Inc., formerly known as Physicians Insurance Group.

Anguilla passes new laws to meet international standards

September 30, 2000
Anguilla has become the latest offshore center to introduce new legislation in order to comply with internationally-accepted standards of regulation. "The new legislation is part of the Government's determination to effectively match the growth of Anguilla's financial services with robust and progressive laws that meet international regulatory standards," said John Lawrence, Director/Anguilla Financial Services Department.