MAPA Finanz GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that MAPA Finanz GmbH “is suspected of conducting unauthorised activities in the financial market”.
British fund manager Jeremy Leach defaults on $11.5M fraud complaint settlement, say Cayman liquidators
British fund manager Jeremy Leach has defaulted on an agreement to pay $11.5 million to settle a fraud complaint in the Cayman Islands regarding two of his failed life settlement funds - Traded Life Policies Fund and Diversified Settlements Fund, the liquidators have told creditors.
U.S. investor sues Spanish ‘freedom fighter’ Luis Cuende over ‘$25M Aragon crypto scheme theft’
Alleging "a blatant act of theft", a U.S. investor is suing 24-year-old Spanish self-described "freedom fighter" Luis Cuende and three Swiss entities in New York regarding a crypto venture known as Aragon that raised "$25 million in Ether" via an Initial Coin Offering.
Patagon Management LLC v. The Aragon Association et al: Complaint & TRO Application (‘$25M Crypto Self-Dealing’)
Complaint and Application for a Temporary Restraining Order in Patagon Management LLC, of Delaware, USA v. The Aragon Association, The Aragon Shield Foundation, Aragon X AG, all of Switzerland, and Luis Cuende, described as citizen of Spain residing in Portugal, at the U.S. District Court for the Southern District of New York.
Hong Kong-based French businessman Damien Dernoncourt sues Credit Suisse for ‘spying on me during CEO’s affair with my wife’
Hong Kong-based French businessman Damien Dernoncourt is suing Swiss bank Credit Suisse for $15 million in the United States for allegedly hacking into his emails and spying on him at the direction of the bank's then-CEO, Tidjane Thiam, who was allegedly having an affair with Dernoncourt's then-wife, fellow banker Marie-Soazic Geffroy.
Cayman’s SPI Investment Fund liquidators seek evidence from U.S. loan recipients for investigation into ‘disappearance of $118M’
The liquidators of three insolvent Cayman Islands investment funds who are investigating "the disappearance of monies" from SPI Investment Fund SPC have applied for Chapter 15 bankruptcy recognition in Florida so they can take discovery from representatives of alleged $118 million loan recipients Sinai Holdings and Prudent Group, including Dennis Klemming, Jacob Gitman, and Yulia Kislyuk.
SPI Investment Fund SPC et al: Chapter 15 Petition (Cayman Islands)
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Andrew Morrison, David Griffin, and Iain Gow, of FTI Consulting, as the Foreign Representatives of SPI Investment Fund SPC (in Official Liquidation), and David Griffin and Yvonne Plamondon, of FTI Consulting, as the Foreign Representatives of International Portfolio Allocation Ltd. (in Official Liquidation) and International Capital Allocation Ltd. (in Official Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of Florida.
Alpmann AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Alpmann AG “is suspected of conducting unauthorised activities in the financial market”.
U.S. seeks ownership of $2.3M cash & 38 luxury watches seized from Cyprus home of indicted Swiss banker Urs Meisterhans
The United States has filed a forfeiture complaint against $2.3 million in cash and 38 luxury watches that were seized in 2021 from the Cyprus home of 63-year-old Swiss banker Urs Meisterhans as part of an investigation into an alleged $6 million international investment fraud and money laundering scheme for which Meisterhans and nine citizens of Cyprus, Ireland, and the United Kingdom were criminally indicted in 2021.
USA v. Assets Seized From Urs Meisterhans: Forfeiture Complaint (‘$2.3M Cash & Luxury Watches’)
Forfeiture Complaint regarding assets allegedly derived from "a sophisticated international mass-marketing investment fraud scheme to defraud English-speaking investors from around the world of millions of dollars, and to launder the fraud proceeds and distribute those proceeds among the conspirators" in USA v. $2.3 million in cash and 38 "luxury-brand watches" seized from the residence of Swiss national Urs Meisterhans in Cyprus at the U.S. District Court for the Southern District of New York.
LV II Investment Management Ltd. et al v. Floreat Private Ltd. et al: Amended Order (‘Service Outside Jurisdiction’)
Amended Order in LV II Investment Management Limited (in Official Liquidation) and Karen Scott and Russell Homer, as Joint Official Liquidators of LV II Investment Management Limited (in Official Liquidation) v. Floreat Private Limited, Mutaz Otaibi, and Daniela Lunardo, all of Geneva, Switzerland, at the Grand Court of the Cayman Islands.
LV II Investment Management Ltd. et al v. Floreat Private Ltd. et al: Originating Summons (‘Fraud’)
Originating Summons to void a Deed of Assignment in LV II Investment Management Limited (in Official Liquidation) and Karen Scott and Russell Homer, as Joint Official Liquidators of LV II Investment Management Limited (in Official Liquidation) v. Floreat Private Limited, Mutaz Otaibi, and Daniela Lunardo, all of Geneva, Switzerland, at the Grand Court of the Cayman Islands.
SEC v. Norman Meier et al: Complaint (‘$7.9M Securities Fraud’)
Complaint alleging the defendant "defrauded over 180
investors, mostly European, out of at least $7.9 million" in U.S. Securities and Exchange Commission v. Norman V. Meier, described as a citizen of Switzerland residing in Massachusetts, USA, as Defendant, and Treuhand Inc., Norman Meier International Inc., a.k.a. NMI Inc; Windeco Corporation, Texxon Oil Corp., and International Financial Services Inc., a.k.a. IFS Inc, d.b.a. IRM Inc., as Relief Defendants, at the U.S. District Court for the District of Massachusetts.
International Global Bank NV v. ItalBank International Inc.: First Amended Complaint (‘$4.3M Blocked Funds’)
First Amended Complaint regarding "blocked funds" totaling $4,359,746 allegedly "related to Venezuela" in International Global Bank NV, of Curaçao v. ItalBank International Inc., of Puerto Rico, at the U.S. District Court for the District of Puerto Rico.
Swiss-based investor prepares to sue in Cayman over ‘$2.3M owed by Reza Ali’s Prosiris investment funds’
Swiss-based investor Karin Reza, who claims she is unable to redeem over $2.3 million in investment funds operated by New York-based fund manager Reza Ali and suspects fraud, has applied to take discovery from Ali, his Prosiris group, and JPMorgan at federal court in the United States for a contemplated lawsuit in the Cayman Islands, where the funds are domiciled.
Karin Reza v. JPMorgan Chase & Co. et al: Discovery Application (Cayman Islands)
Application by Karin Ingrid Reza to take discovery from JPMorgan Chase & Co., J.P. Morgan Chase N.A., J.P. Morgan Securities LLC, as successor to J.P. Morgan Clearing Corp.; Prosiris GP LLC, Prosiris Capital Management LP, and Reza Ali "for use in contemplated Cayman Islands court proceedings" for "recoupment of an investment or for investment–related fraud", filed at the U.S. District Court for the Southern District of New York.
The VETRI Foundation: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that The VETRI Foundation “is suspected of conducting unauthorised activities in the financial market”.
Mirabaud & Cie SA: CHF12.7M Confiscation (Switzerland)
Public Notice by the Swiss Financial Market Supervisory Authority that it has "confiscated CHF 12.7 million of unlawfully generated profits and opened three proceedings against individuals" after finding that Swiss private bank Mirabaud & Cie SA "breached its anti-money laundering obligations and seriously violated financial market law".
Food Initiative LLC v. Evgeny Chernyshev et al: Discovery Application (Russia & Switzerland)
Application by Food Initiative LLC, of Russia, to take discovery from Evgeny Alexandrovitch Chernyshev, Marina Mikhailovna Vergun, and Paracorp Inc. for use in "criminal and civil proceedings currently pending before Russian courts and contemplated civil proceedings in Switzerland" alleging "fraud, breach of contract, alter ego liability and breach of fiduciary duty by the Discovery Targets Chernyshev and his wife, Vergun", filed at the U.S. District Court for the Northern District of California.
USA v. Nigel Sinclair et al: Criminal Indictment (‘$5M Offshore Tax Fraud’)
Criminal Indictment alleging the concealment of $25 million of income via an offshore tax fraud scheme involving individuals, entities and/or accounts in Australia, British Virgin Islands, England, Jersey, in the Channel Islands; Malta, Monaco, Switzerland, and USA in USA v. John Nigel Barton Sinclair, described as a dual citizen of the United Kingdom and United States and film producer who "has received Emmy and Grammy awards", and Anthony Stewart, described as a citizen and resident of Australia and a chartered accountant, at the U.S. District Court for the Central District of California.
Louis Dreyfus Company Suisse S.A. v. John Doe: Complaint (‘$491K Phishing Fraud’)
Complaint alleging the plaintiff was the victim of a $491,081 phishing fraud in Louis Dreyfus Company Suisse S.A., of Switzerland, described as being "part of Groupe Louis Dreyfus S.A., one of the largest global agricultural commodities businesses" v. John Doe at the U.S. District Court for the Southern District of New York.
AMJ Global Entertainment LLC v. Migom Bank Ltd. et al: Class Action Complaint (‘Securities Fraud’)
Class Action Complaint in AMJ Global Entertainment LLC v. Migom Global Corp., Migom Bank Ltd., of Dominica; Thomas A. Schaetti, Juergen Blaha, Gregory Donahue, Michael Herzer, Benno Klebl, Andrew Wordsworth, Johann Gudenus, Stephen Lendhart, and John Does 1-12 at the U.S. District Court for the Southern District of New York.
Valeska Sigren Bindhoff v. André Paul Boissier: Discovery Application (Switzerland)
Application by Valeska Sigren Bindhoff, described as "an 86-year-old Chilean citizen who resides in Santiago, Chile", to take discovery from André Paul Boissier for use in "a contemplated civil proceeding for damages in Switzerland which Petitioner intends to bring against Banque Lombard Odier & Cie S.A., a private Swiss bank headquartered in Geneva, Switzerland", filed at the U.S. District Court for the Central District of California.
CFTC v. TOTSA TotalEnergies Trading SA: $48M Fine (‘Market Manipulation’)
Administrative Order by the U.S. Commodity Futures Trading Commission imposing a fine of $48 million on TOTSA TotalEnergies Trading SA, formerly known as TOTSA Total Oil Trading SA, of Switzerland, for allegedly attempting to manipulate the market for futures contracts linked to EBOB, which was described as "a type of refined gasoline used primarily in automobiles in Europe".
Elena Bourlakova et al v. Steven Landau et al: Judicial Assistance (Switzerland)
Motion by Counter Defendants Loudmila Bourlakova, Elena Bourlakova, Veronica Bourlakova, and Gregory Gliner to take discovery from UBS AG in Switzerland in Elena Bourlakova and Veronica Bourlakova v. Steven Landau, Thomas Butler, Natalia Rousso, Nikolai Kazakov, Vera Kazakov, Semen Anufriev, Igor Krutoy, and Olga Kroutoia at the Circuit Court of the 11th Judicial Circuit, in and for Miami-Dade County, Florida, USA.
Hazim Nada et al v. United Arab Emirates et al: First Amended Complaint (‘Dark PR Campaign to Smear Victims’)
First Amended Complaint alleging "the United Arab Emirates and some of its top officials managed, directed, and bankrolled a years-long “dark” public relations campaign through the Swiss private investigative firm, Alp Services S.A., which was founded, owned, and run by Mario Brero and Muriel Cavin" in Hazim Nada, of Italy, and Lord Energy SA, of Switzerland v. The United Arab Emirates, Ariaf Studies and Research LLC, of Abu Dhabi, United Arab Emirates; Alp Services SA, of Switzerland; Diligence Sarl, of Switzerland; Mario Brero, of Switzerland; Lionel Badal, of Luxembourg; Muriel Cavin, of Switzerland; Lorenzo Vidino, of Washington, D.C., USA; Sylvain Besson, of Switzerland, and John Does 1-25 at the U.S. District Court for the District of Columbia.
EuroChem Group AG v. JPMorgan Chase Bank N.A. et al: Discovery Application (Switzerland)
Application by EuroChem Group AG, of Switzerland, to take discovery from JPMorgan Chase Bank N.A., Truist Financial Corporation, and Truist Bank for use in legal proceedings in Switzerland regarding "an invoice spoofing incident" in which the bank was allegedly defrauded out of $600,000, filed at the U.S. District Court for the Southern District of New York.
Via Brazil International Partners GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Via Brazil International Partners GmbH (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.
Switzerland: Global-Data System IT LLC (‘Computer Data Theft’)
Application for the appointment of a Commissioner to collect evidence from Global-Data System IT LLC - pursuant to a request for judicial assistance from Switzerland - for a criminal investigation into "an unknown suspect for unauthorized obtaining of data, unauthorized access to a data processing system, damage to data, and extortion offenses".
Contempt motion filed against Belgian businessman Philip Deutz’s U.S. firm through which he ‘swindled Swiss firm out of $8.5M’
Switzerland-domiciled Loewenstein Invest Schweiz AG, which claims that Belgian businessman Philip Deutz has swindled it out of $8.5 million, has filed a contempt motion in the United States against his Delaware firm EDPNet Inc., whose books and records it has been trying to inspect for 20 months.
Loewenstein Invest Schweiz AG v. EDPNet Inc.: Contempt Motion (‘Inspection of Books & Records’)
Plaintiff's Motion for Contempt in Loewenstein Invest Schweiz AG, of Switzerland v. EDPNet Inc. at the Court of Chancery of the State of Delaware, USA.
Yves Brüderlein v. BVI Registrar of Corporate Affairs: Restoration Application (Artrading Ltd.)
Fixed Date Claim Form regarding Artrading Limited in Yves Henry Gerard Brüderlein, of Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
Switzerland requests bank records of U.S. firm for money laundering investigation into ‘caterer’ Maria Magali Ribeiro Martignoni
Switzerland has requested the bank records of U.S. firm Trading Core Investment LLC, which has an affiliate in the Cayman Islands, for a criminal investigation into purported "caterer" Maria Magali Ribeiro Martignoni for suspected money laundering involving accounts and entities in Andorra, Italy, Saudi Arabia, Switzerland, United Arab Emirates, and USA.
Luigi Vastola v. BVI Registrar of Corporate Affairs: Restoration Application (Colmar Ventures Corp.)
Fixed Date Claim Form regarding Colmar Ventures Corp., which "holds a bank account in Switzerland", in Luigi Nappo Vastola v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
Switzerland: Maria Magali Ribeiro Martignoni (‘Money Laundering’)
Application for the appointment of a Commissioner to collect evidence from East West Bank Core regarding an account held by Trading Core Investment LLC - pursuant to a request for judicial assistance from Switzerland - for a criminal investigation into Maria Magali Ribeiro Martignoni for suspected money laundering.
Kerrville Ltd.: Restoration Application (Cayman Islands)
Originating Application in the matter of Kerrville Limited at the Grand Court of the Cayman Islands.
Vantage Mezzanine Fund II Partnership v. The Clearing House Payments Company LLC et al: Discovery Application (Bermuda, England, Ghana, Italy, Malta & Switzerland)
Application by Vantage Mezzanine Fund II Partnership, acting through Vantage Mezzanine Fund II (Pty) Ltd. to take discovery from The Clearing House Payments Company LLC, Barclays Bank PLC, Citibank N.A., Deutsche Bank Trust Company Americas, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., The Bank of New York Mellon, The Northern Trust Company/The Northern Trust International Banking Corporation, UBS AG, Wells Fargo Bank N.A., Bank of America N.A., and Standard Chartered Bank for use in legal proceedings in Bermuda, England, Ghana, Italy, Malta and Switzerland regarding an attempt to enforce a $59 million arbitration award against Ghana businessman John Eric Kowdo Taylor, filed at the U.S. District Court for the Southern District of New York.
Zvi Dekel v. Apenzell Holdings Ltd. et al: Claim Form (‘€4M Shareholder Oppression Claim’)
Claim Form in Zvi Dekel, of London, England v. Apenzell Holdings Ltd., Control Services Corporation, Christopher Stuart McKenzie, Newman George Leech, of Switzerland, and RE Capital (Switzerland) SA, of Switzerland, at the British Virgin Islands High Court.
nChain Holding AG v. Eric Finnerud: Discovery Application (England)
Application by nChain Holding AG, of Switzerland, described as "a leading provider of blockchain technology, IP licensing, and consulting services", to take discovery from Eric Finnerud for use in legal proceedings in England alleging "a conspiracy led by its former CEO, Christen Ager-Hanssen, to misappropriate nChain’s confidential information and to wrest control of nChain from its Board of Directors", filed at the U.S. Bankruptcy Court for the Northern District of Georgia.
Celsius Network LLC et al v. MFox Trading AG: Complaint (‘$868K Preferential Transfers’)
Complaint to void and recover “preferential transfers” in Mohsin Y. Meghji, as Litigation Administrator for Celsius Network LLC, Celsius KeyFi LLC, Celsius Lending LLC, Celsius Mining LLC, Celsius Network Inc., Celsius Network Limited, Celsius Networks Lending LLC, Celsius US Holding LLC, GK8 Ltd., GK8 UK Limited, and GK8 USA LLC v. MFox Trading AG, of Switzerland, at the U.S. Bankruptcy Court for the Southern District of New York.
Celsius Network LLC et al v. FiVe For Life AG: Complaint (‘$2.2M Preferential Transfers’)
Complaint to void and recover “preferential transfers” in Mohsin Y. Meghji, as Litigation Administrator for Celsius Network LLC, Celsius KeyFi LLC, Celsius Lending LLC, Celsius Mining LLC, Celsius Network Inc., Celsius Network Limited, Celsius Networks Lending LLC, Celsius US Holding LLC, GK8 Ltd., GK8 UK Limited, and GK8 USA LLC v. FiVe For Life AG, of Switzerland, at the U.S. Bankruptcy Court for the Southern District of New York.
Zeus Asset Management S.A.: €45.9K Fine (Luxembourg)
Public Notice by the Luxembourg CSSF that it has imposed a fine of €45,900 on Zeus Asset Management S.A. for regulatory breaches.
BanQu Inc. v. Keurig Trading Sàrl: Complaint
Complaint alleging breach of contract and unjust enrichment in BanQu, Inc., described as "a groundbreaking technology company that develops supply-chain software for large corporations around the world, including Coca-Cola, Dow, ECOM Trading, and AB InBev among others" v. Keurig Trading Sàrl, of Lausanne, Switzerland, described as "an affiliate of the international beverage company Keurig Dr Pepper Inc.", at the U.S. District Court for the Southern District of New York.
Saturn4FX Sàrl: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Saturn4FX International Management Sàrl, now known as Saturn4FX Sàrl, “is suspected of conducting unauthorised activities in the financial market”.
Accused fraudster Marc-André Pépin sets up new Luxembourg fund, Polaris Financial Investments
Swiss asset manager Marc-André Pépin and British fund administrator Gareth Williams, who both participated in a Cayman Islands investment scheme that recently collapsed amid allegations of fraud, have set up a new Luxembourg fund, Polaris Financial Investments S.A., with a similar investment objective of investing in receivables.
Astorica SA: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Astorica SA “is suspected of conducting unauthorised activities in the financial market”.
Safe Trust SNC: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Safe Trust SNC “is suspected of conducting unauthorised activities in the financial market”.
FlowBank SA: Bankruptcy Proceedings (Switzerland)
Press Release by the Swiss Financial Market Supervisory Authority that it has initiated bankruptcy proceedings against FlowBank SA "as the bank no longer has the minimum capital required for its business operations".
Larissa Cemerova v. BVI Registrar of Corporate Affairs: Restoration Application (Racing Investments Corporation)
Fixed Date Claim Form regarding Racing Investments Corporation in Larissa Cemerova, of Lucerne, Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
Creditincome Ltd. et al v. The Swiss Confederation: Complaint (‘$82M Conversion’)
Complaint that "arises out of Switzerland’s March 19, 2023 conversion of debt securities known as Additional Tier 1 Bonds issued by Credit Suisse AG and beneficially owned by Plaintiffs" in Creditincome Limited, of England; Creditincome Pension Scheme, of England; Double Plateau Holdings LLC, of Delaware, USA; GI Rui Co. Ltd., of Samoa; Red White Investment Ltd., of the Cayman Islands; Rui Gi Lou International Co. Ltd., of the British Virgin Islands; Solar Talent International Limited, of the British Virgin Islands, and Springcore Ltd., of the British Virgin Islands v. The Swiss Confederation at the U.S. District Court for the Southern District of New York.