St. Kitts & Nevis

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Insider Talking: August 8, 2006

August 8, 2006
Lennox Gibbs is well-paid for his role in dubious penny stock Strategy International Insurance Group Inc.; Law firm Charles Russell and financial advisors Smith & Williamson, continue to be handsomely rewarded for their lmismanagement of the iquidation of Invaro Ltd.; and the US Senate Permanent Subcommittee on Investigations' 'Tax Haven Abuses: The Enablers, The Tools and Secrecy' is not without its humorous side.

Nevis regulator issues warning against Irvin BonCamper

August 8, 2006
St. Kitts-based offshore financial services provider Malchus Irvin R. BonCamper and his group of companies are the targets of a warning issued by regulators in Nevis.According to a warning issued by Nevis Financial Services Development and Marketing Department on May 22, 2006, information on a web-site at www.boncamper.com is “misleading” and BonCamper, A.F.M. Trust and Corporate Ltd., AFM Trust & Corporate Services, and A.F.M. Services Group “are not licensed to conduct international/offshore financial services business in any capacity, in and from within Nevis.

Nevis trust company hurriedly removes link to tax evader

July 10, 2006
A United States national who was convicted of tax evasion-related offenses as recently as June 30th, 2006 is secretly involved with a Nevis-based trust company, OffshoreAlert can reveal. Until a few weeks ago, Charles Sigerseth, 66, of Missoula, Montana, was listed as the registrant for the domain name ‘guardiantrustcompany.com', which links to the web-site for Guardian Trust Company Ltd. 

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.

USA v. Michael Enrest Zapetis, Sr. et al: Criminal Indictment

January 17, 2006
Indictment in USA v. Michael Enrest Zapetis, Sr., Karen Carazo Zapetis, Richard Joseph Solomon, William Allen Broughton, Clifton Fred Lees, William L. Clancy, John E. S. Kramar, Peter Ivan Greengrass, Richard William Peterson, and Anthony John Hicks at the U. S. District Court for the Middle District of Florida.

Russia seeks evidence overseas for criminal investigation into alleged theft of building

January 4, 2006
Article based on an application to collect evidence for a criminal investigation into alleged theft and fraud - pursuant to a request for judicial assistance from Russia - that was filed at federal court in the USA on December 27, 2005. Individuals and businesses mentioned in the request for assistance include Benhurst Products LLC, Trans-West, Verta LLC, Mechmar LLC, Valentina Kirichenko, Belva Nisbett, Theodor Hobson, Anna Andreou, Alexander Georgievich Gradoboev, Pavel Arkadievich Alyashevich, Sergey Vladimirovich Zimbal, Sergey Victorovich Chirkin, Maxim Valerievich Bolshakov, Kolby Attorneys Co. Inc., and Gris LLC.

Borcherding Enterprises, Inc. et al v. Heritage Advisory Group of Southern Indiana, LLC et al: Complaint

January 4, 2006
Complaint in Borcherding Enterprises, Inc. and Kim E. Borcherding v. Heritage Advisory Group of Southern Indiana, LLC, d.b.a. Heritage Advisory Group; Professional Benefit Trust, Inc., Professional Benefit Trust, Ltd., Handler, Thayer & Duggan, LLC, PBT Administration, LLC, First Fidelity Trust Company, Ltd., Amerus Life Insurance Company, Mark Sims, Robert Brian Beall, Carey L. Sunderlage, Tracy L. Sunderlage, Rex A. Collins, and K B Parrish & Co., LLP at the U. S. District Court for the Southern District of Ohio.

Russia: Benhurst Products LLC

December 27, 2005
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Russia into suspected fraud involving Benhurst Products LLC.

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.

IDIC et al: Warning

October 4, 2005
International Depositors' Reinsurance Corporation (IDIC), Caralfan Group Limited and Caralfan International Bank, Global Currency Trust, and World Wide Trust - Warning by Nevis Financial Services

Newt Utopia: September 4, 2005

September 4, 2005
St. Kitts and Venezuela, another oil refinery story Venezuela is looking at a joint venture to develop a refinery in St. Kitts. The idea is to replace one state sponsored debacle, sugar, with another one - a refinery for asphalt,

Genesis Fund investigation leads to eight arrests

June 5, 2005
Five people in California and three others in Costa Rica were arrested in May for allegedly swindling hundreds of investors out of tens of millions of dollars from 1994 to 2002 in an offshore investment scam.The arrests followed an 83-count indictment - unsealed on May 13, 2005 - at the U. S. District Court for the Central District of California concerning an unlicensed investment fund known as the Genesis Fund.

Missing in Action: Halliburton’s disappearing offshore subsidiaries

June 5, 2005
In the space of four or five years, Halliburton, the international oil services and construction conglomerate that is under attack for overcharging and underperforming in Iraq, has gone from reporting approximately 70 to 80 offshore subsidiaries in its annual SEC filing to just two, both in the Cayman Islands.Offshore networks had become a central part of Halliburton's management and financial strategy. When current United States Vice President Dick Cheney was CEO of Halliburton from 1995 to 2000, the company's offshore subsidiaries increased from nine to 44. By the year 2001, that had nearly doubled. Now most of them have gone missing!

USA v. Gilbert A. Ziegler et al: Third Superseding Indictment

April 8, 2005
Third Superseding Indictment in USA v. Gilbert A. Ziegler, a.k.a. Van A. Brink; Rita L. Regale, a.k.a. Rita Brunges; Douglas C. Ferguson, Robert J. Skirving, and Laurent E. Barnabe, a.k.a. Larry Barnabe, at the U. S. District Court for the District of Oregon.

Newt Utopia: March 31, 2005

March 31, 2005
Around the Caribbean Offshore Financial Centers BahamasSpring break is in full season and the primary assets are walking around on two legs hibernating from school and snow. Spring break is now probably the largest single revenue event for the Bahamas

Creditors pursue Nevis-domiciled Certusia Reinsurance

March 31, 2005
A fraudulent reinsurer that was incorporated in Nevis but operated from the United States appears to have gone out of business amid a slew of lawsuits, including a judgment for $1.3 million. The telephone number for Certusia Reinsurance Company Inc.'s

Disgraced Olympian’s ex-doctor forms Miami trust company with dubious offshore provider

March 31, 2005
A Caribbean-based doctor who supplied the steroids that led to Canadian sprinter Ben Johnson's disqualification at the 1988 Olympics has set up a Florida 'trust' company with a debt-ridden accountant who has been involved with several fraudulently-operated offshore firms over many years.Dr. George Astaphan, 58, and Malchus Irvin BonCamper, 60, who both reside in Basseterre, St. Kitts, are the only directors of Tegreman Trust (USA) Inc., which was formed in Florida on December 6, 2004.

David Dodwell settles torturous litigation after 12 years of filings

January 31, 2005
Bermuda hotelier and ex-Minister of Tourism David Dodwell has settled litigation with a former business partner that lasted more than 12 years, spanned courts in three countries and was notable for its acrimony. An order dismissing U. S.-based Lee Koehler's complaint against Dodwell and garnishment actions against The Reefs Beach Club Limited, of Bermuda; and Windward Properties Limited, of Nevis, was entered at the U. S. District Court for the District Court of Maryland on July 14, 2004.

Newt Utopia: November 30, 2004

November 30, 2004
Dose of reality for U. S. in loss to Antigua & Barbuda at World Trade Organization In a 273 page report - plus appendices, the World Trade Organization ruled in favor of Antigua & Barbuda in a trade dispute with

Insider Talking: November 30, 2004

November 30, 2004
Two prominent Bermudian businessmen accused of fraud appeared at Magistrates Court in November for a preliminary hearing on whether there is sufficient evidence for the case against them to proceed. Bermudians Arthur Jones, 52, and Fraser Butterworth, 62, have exercised

SEC v. Treyton Thomas et al: Complaint

November 1, 2004
Complaint alleging securities fraud involving, inter alia, Imagis Technologies, Inc., of Canada, and Indo Sakura Trust Ltd., of Nevis, in U. S. Securities and Exchange Commission v. Treyton L. Thomas and Pembridge Group Ltd., of the Cayman Islands, at the U. S. District Court for the District of Massachusetts.

Newt Utopia: October 31, 2004

October 31, 2004
The Isle of Man Financial Supervision Commission has announced approval of the Investment Business Order of 2004, which is an updated version of, and replaces, the Investment Business Order of 1991; EU Directive to Impact UK/Caribbean Trust Business; The U. S. Wakes Up - I think; St. Kitts and Nevis: Denzil Douglas is back; and US Elections - The gimlet eye.

Newt Utopia: September 30, 2004

September 30, 2004
Vanuatu It looks like the future for this failed offshore jurisdictions is in hosting Survivor reality television shows. I can't wait to see Survivor Sealand or Survivor Melchizedek.Bahamas The Bahamian Foundation Act has a few quirks that could have made

IRS and state regulators investigate offshore ‘credit union’

September 30, 2004
The IRS and regulators in Florida are investigating a company purportedly based in St. Kitts & Nevis and its affiliates, including a credit union. Details of the IRS investigation are contained in a petition to petition to enforce summonses that was filed at the U. S. District Court for the Middle District of Florida on April 19, 2004.

Terry Neal tries to renege on sentencing deal

August 31, 2004
Former offshore services provider Terry Neal and three co-defendants have had their sentencing delayed pending a review of a U. S. Supreme Court opinion that federal sentencing guidelines are unconstitutional.

Criminal charges dropped against David Finzer

August 31, 2004
A criminal indictment in the United States against offshore provider Raymond David Finzer has been dismissed more than four years after it was returned.The 33-count indictment for mail fraud, wire fraud, and money laundering was dismissed with prejudice on July 14, 2004 at the US District Court for the District of Utah, meaning it can never be re-filed.

Newt Utopia: Around the Caribbean

July 31, 2004
The Bahamas, St. Kitts & Nevis, Dominica, Grenada, FATF/OECD, ECCB  Nations, Offshore Gaming, and Newt's right - again.

Alleged fraudster Nolon Bush sued for $2.5 m

May 31, 2004
Another civil complaint alleging fraud has been filed in the United States against a United States national who once helped operate the Nevis based Global Dominion Group.The latest complaint against C. Nolon Bush, d.b.a. Cornerstone Institute, of Kitsap County, Washington,

Insider Talking: April 30, 2004

April 30, 2004
Ian Renert and his unlicensed Bahamas-based investment fund group receive $1.5 m in penalties in securities fraud action, London-based barristrer Lawrence Jones in messy legal battle with former fiancée, Keith King and the Dominican Republic's Central Bank, AT&T Corp. sues the Bahamas Tourist Office for an allegedly unpaid bill of $104,361, Royal Bank of Scotland refused to explain massive exposure to the Cayman Islands, civil complaints filed in the Turks and Caicos Islands against Professional Capital Ltd. and Intalco Management Ltd., US Government obtains order allowing it to seize $2.6 m of narcotics trafficking proceeds held at Barclays Bank (Bahamas), US Government applies to seize 55-feet catamaran passenger ferry called 'The Preference' moored in St. Vincent and the Grenadines, and Netherlands Antilles-domiciled Overseas World Marketing NV sues Motivational Marketing Inc. in Florida.

Terry Neal agrees to turn in clients

April 13, 2004
Terry Neal has become the latest United States-based offshore provider to turn in his clients to criminal prosecutors in return for a lenient sentence.Two months after shell bank promoter Jerome Schneider pleaded guilty to one count of conspiracy to defraud the U. S. government, Neal pleaded guilty to a similar charge yesterday at federal court in Oregon. Neal, who was based in Portland, Oregon and St. Kitts & Nevis, faces up to five years in prison and a maximum fine of $250,000 when he is sentenced on July 12, 2004.

Cayman Islands: Lewis Rowe et al

April 7, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Cayman Islands into alleged money laundering by Lewis Rowe and Patrick Tibbetts regarding the Cash 4 Titles Ponzi scheme.

Newt Utopia: March 31, 2004

March 31, 2004
Around the Caribbean Antigua is completely and totally Birdless 90% plus of those eligible to vote queued up in the rain to cast their ballot. People stood in lines for hours to make their mark and boy did they. It

Insider Talking: March 31, 2004

March 31, 2004
A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,