Switzerland

Celsius Network LLC et al v. MFox Trading AG: Complaint (‘$868K Preferential Transfers’)

July 10, 2024

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’)

July 8, 2024

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)

July 4, 2024

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

July 2, 2024

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)

June 25, 2024

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

June 25, 2024

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)

June 21, 2024

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)

June 14, 2024

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)

June 13, 2024

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)

June 11, 2024

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’)

June 6, 2024

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.

Robertina Calatrava v. BVI Registrar of Corporate Affairs: Restoration Application (Anchorgate Management Ltd.)

June 4, 2024

Fixed Date Claim Form regarding Anchorgate Management Limited in Robertina Calatrava, of Zurich, Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

ChainDigger GmbH: Public Warning (Switzerland)

May 27, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that ChainDigger GmbH (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.

Stephane Oury v. BVI Registrar of Corporate Affairs: Restoration Application (Finca Real Estate Ltd.)

May 26, 2024

Fixed Date Claim Form regarding Finca Real Estate Ltd. in Stephane Oury, of Switzerland v. The Registrar of Coporate Affairs at the British Virgin Islands High Court.

Luigi Vastola v. BVI Registrar of Corporate Affairs: Restoration Application (Colmar Ventures Corp.)

May 15, 2024

Fixed Date Claim Form regarding Colmar Ventures Corp. in Luigi Nappo Vastola v. The Registrar of Corporate Affairs at the British virgin Islands High Court.

Pro Finanz Schweiz AG: Public Warning (Switzerland)

May 10, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Pro Finanz Schweiz AG “is suspected of conducting unauthorised activities in the financial market”.

Global Steel Holdings Ltd. v. Direct Investments Ltd.: Claim Form (‘$103M Debt’)

May 9, 2024

Claim Form in Global Steel Holdings Limited (in Liquidation), of the Isle of Man, described as "a corporate structure ... under the control of Mr Pramod Mittal" v. Direct Investments Limited (in Receivership) at the British Virgin Islands High Court.

Swiss asset manager Heinz Kubli’s investment fund TTC SICAV has license revoked by Malta regulator

May 9, 2024

Malta Financial Services Authority has revoked the licenses of Swiss asset manager Heinz Kubli's investment fund TTC SICAV Plc and its sub-fund, TTC Green Energy Fund, for several regulatory breaches.

TTC SICAV Plc et al: License Revocations (Malta)

May 8, 2024

Public Notice by the Malta Financial Services Authority that it has cancelled the licenses of investment funds TTC SICAV Plc and TTC Green Energy Fund for regulatory breaches.

Interdate S.A. et al v. Arkose Labs Inc.: Complaint

May 3, 2024

Complaint alleging breach of contract and fraudulent inducement in Interdate S.A. and Be2 Sarl, both of Luxembourg, which "online dating and matchmaking services" v. Arkose Labs Inc. at the U.S. District Court for the Northern District of California.

BC Insurance SA v. Redbridge Insurance Company Ltd.: Complaint (‘$435K Breach of Contract’)

May 2, 2024

Complaint in BC Insurance SA, of Switzerland, on its own behalf and as placing brokers and agents for Eurobulk Ltd. v. Redbridge Insurance Company Ltd., of Barbados, at the U.S. District Court for the Southern District of Florida.

Tritone Capital Management AG: Public Warning (Switzerland)

April 25, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Tritone Capital Management AG “is suspected of conducting unauthorised activities in the financial market”.

Palomino Master Ltd. et al v. Credit Suisse Group AG et al: Complaint (‘Racketeering’)

April 23, 2024

Complaint "to recover significant investment losses suffered by investors who were misled by Defendants’ misrepresentations concerning the financial health of a major international bank – Credit Suisse – during a fateful week in March 2023 when that bank faced serious liquidity issues" in Palomino Master Ltd., of the British Virgin Islands; Azteca Partners LLC, of Delaware, USA, and Appaloosa LP, of Delaware, USA v. Credit Suisse Group AG, of Switzerland; Axel P. Lehmann, and Ulrich Korner at the U.S. District Court for the District of New Jersey.

Atlas Administration AG: Public Warning (Switzerland)

April 16, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Atlas Administration AG (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.

Damien Dernoncourt v. Credit Suisse AG et al: Complaint (‘$15M Email Hacking’)

April 11, 2024

Complaint for $15 million alleging "the brazen and flagrantly illegal act of hacking Plaintiff's email account" in Damien Dernoncourt, described as a citizen of France residing in Hong Kong who "is a prominent businessperson and entrepreneur who has found success in various corporate sectors, including the jewelry, fashion, and beauty industries, among others" v. Credit Suisse AG and UBS Group AG, both of Switzerland, at the Superior Court of Washington, King County, USA.

Polaris Financial Investments S.A.: Offering Memorandum (Luxembourg)

April 2, 2024

Offering Memorandum for Polaris Financial Investments S.A., of Luxembourg.

Farid Hafez v. Lorenzo Vidino et al: Class Action Complaint (‘Racketeering’)

March 27, 2024

Class Action 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 Dr. Farid Hafez, described as "currently the Class of 1955 Distinguished Visiting Professor of International Studies at Williams College" v. Dr. Lorenzo Vidino, described as "a director of or with the Defendant institutions at all relevant times"; The George Washington University, The Program on Extremism at The George Washington University, Alp Services S.A., of Switzerland; Diligence Sarl, of Switzerland; Mario Brero, described as a citizen and resident of Switzerland; Muriel Cavin, described as a citizen and resident of Switzerland; Lionel Badal, described as a citizen and resident of Luxembourg; Ariaf Studies and Research LLC, of Abu Dhabi, United Arab Emirates, and John Doe Numbers 1-25 at the U.S. District Court for the District of Columbia.

Dubai-based Swiss businessman Patrick Dannacher takes legal action to identify ‘extortionist’

March 27, 2024

Dubai-based, Swiss businessman Patrick Dannacher has taken legal action in California in an attempt to discover who is behind an alleged attempt to extort funds from him.

Banque Audi (Suisse) SA: CHF 3.9M ‘Illegal Profits’ Disgorgement & CHF 19M Capital Surcharge

March 25, 2024

Press Release by the Swiss Financial Market Supervisory Authority that Banque Audi (Suisse) SA has "breached its obligations in the prevention of money laundering" and FINMA has "ordered the disgorgement of profits totalling CHF 3.9 million and a capital surcharge of CHF 19 million".

Patrick Dannacher v. Cloudflare Inc.: Discovery Application (United Arab Emirates)

March 22, 2024

Application by Patrick Dannacher, described as "a Swiss citizen residing in Dubai, the United Arab Emirates", to take discovery from Cloudflare Inc. for use in legal proceedings in the United Arab Emirates alleging extortion, filed at the U.S. District Court for the Northern District of California.

USA v. Dan Rotta et al: Criminal Indictment (‘Offshore Tax Fraud’)

March 22, 2024

Criminal Indictment in USA v. Dan Rotta, described as a Romania-born citizen and resident of USA, and Sergio Cernea, described as a citizen and resident of Brazil, at the U.S. District Court for the Southern District of Florida.

Nakula Management Ltd. v. 777 Partners LLC et al: Petition (‘€9M Guarantees’)

March 14, 2024

Petition "to preclude any sale or transfer of assets, including any real estate assets in Florida, owned by Defendants 777 Partners LLC and Joshua Craig Wander pending the arbitration in London, United Kingdom" in Nakula Management Limited, of Cyprus, described as part of a group whose "founder and principal investor" was "Oleg Viktorovich Boyko, a Russian and Italian citizen residing in Switzerland" v. Joshua Wander and 777 Partners LLC, described as "guarantors owing more than EURO 9 million to Petitioner" at the Circuit Court for the Eleventh Judicial Circuit, in and for Miami-Dade County, Florida, USA.

‘Remove alert about Jean-Claude Bastos de Morais’, writes his London attorney

March 13, 2024

Letter from Peter Baker, a partner with law firm Quinn Emanuel Urquhart & Sullivan UK LLP, of London, England, on behalf of its client, Jean-Claude Bastos de Morais, a Swiss-Angolan businessman, requesting the removal from OffshoreAlert's website of a disqualification notice against Bastos de Morais that was published by the Mauritius Financial Services Commission on August 26th, 2020, falsely claiming that OffshoreAlert had not published the subsequent cancellation of the disqualification, even though we actually published it on October 2nd, 2020 - a mere one day after it was first published by the MFSC, and cross-linking it to the disqualification notice, no less.

West African Mineral Trading Ltd. et al v. Citibank NA et al: Discovery Application (Croatia, Nigeria & United Arab Emirates)

March 12, 2024

Application by West African Mineral Trading Ltd., of Nigeria, and Tiberius Group AG, described as "an asset management and non-ferrous metal trading company based in Zug, Switzerland", to take discovery from Citibank N.A., Deutsche Bank Trust Company Americas, HSBC Bank USA N.A., Bank of New York Mellon, UBS AG, JPMorgan Chase Bank, N.A., and Bank of America for use in legal proceedings in Croatia, Nigeria, and United Arab Emirates, filed at the U.S. District Court for the Southern District of New York.

USA v. Dan Rotta: Criminal Complaint (‘Offshore Tax Fraud’)

March 11, 2024

Criminal Complaint alleging the defendant "concealed millions of dollars in assets and income from the IRS in Swiss bank accounts for several decades that he failed to report" involving, inter alia, individuals and entities in Brazil, British Virgin Islands, France, Hong Kong, Romania and Switzerland in USA v. Dan Rotta at the U.S. District Court for the Southern District of Florida.

DexTech AG: Public Warning (Switzerland)

March 11, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that DexTech AG “is suspected of conducting unauthorised activities in the financial market”.

Global Currency Travel and Tours GmbH: Public Warning (Switzerland)

March 8, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Global Currency Travel and Tours GmbH “is suspected of conducting unauthorised activities in the financial market”.

USA v. Stephen Schechter: Criminal Sentencing Order (‘Offshore Tax Evasion’)

March 1, 2024

Criminal Sentencing Order in USA v. Stephen Schechter, described as a retired investment banker who is a dual citizen of the United Kingdom and USA residing in Monaco, at the U.S. District Court for the District of Columbia.

Migom Bank Ltd.: ‘Cease Business & Director Removal’ Directive (Dominica)

February 29, 2024

Directive by the Dominica Financial Services Unit that Migom Bank Ltd. "shall cease to engage in any type of financial business" and that "Swiss national" Thomas Adrian Schätti has been removed as a director.

Geneva Trust Company (GTC) SA v. BVI Registrar of Corporate Affairs: Restoration Application (Newton Properties Ltd.)

February 28, 2024

Fixed Date Claim Form regarding Newton Properties Limited in Geneva Trust Company (GTC) SA, of Geneva, Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

USA v. Stephen Schechter: USA’s Sentencing Memorandum (‘Offshore Tax Evasion’)

February 23, 2024

USA's Sentencing Memorandum regarding "a retired multimillionaire investment banker" who "schemed to defraud the IRS by concealing over $5 million in income in offshore accounts, which he failed to report on his individual income tax returns and required Foreign Bank Account Reports" in USA v. Stephen Schechter, described as a dual citizen of the United States and United Kingdom residing in Monaco, at the U.S. District Court for the District of Columbia.

Pixton AG: Public Warning (Switzerland)

February 23, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Pixton AG “is suspected of conducting unauthorised activities in the financial market”.

AvantGarde Group SpA et al v. Stock Loan Solutions LLC et al: Complaint (‘Securities Fraud’)

February 23, 2024

Complaint alleging securities fraud in AvantGarde Group SpA and 1AF2, both of Italy v. Stock Loan Solutions LLC, Joe D. Thomas, Camo LLC, Harvey L. Carmichael, and Sanskirt LLC, as Defendants, and Harvey Carmichael Inc., Stock Loan Solutions, described as "a Cayman Islands entity", and Stock Loan Solutions, described as "a Swiss special purpose vehicle", as Relief Defendants, at the U.S. District Court for the District of Utah.

ECUREX GmbH: Public Warning (Switzerland)

February 15, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that ECUREX GmbH, which appears to have operated as a crypto exchange, “is suspected of conducting unauthorised activities in the financial market”.

Andreas Bihrer v. BVI Registrar of Corporate Affairs: Restoration Application (Canton Property S.A.)

February 9, 2024

Fixed Date Claim Form regarding Canton Property S.A., of Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Swiss Financial Insurance GmbH: Public Warning (Switzerland)

February 8, 2024

Public Warning by the Swiss Financial Market Supervisory Authority that Swiss Financial Insurance GmbH “is “suspected of conducting unauthorised activities in the financial market”.

USA v. Colin Campbell: Complaint (‘$55K Tax Penalties’)

February 7, 2024

Complaint for $55,034, "plus statutory additions and interest", regarding penalties for "Nonwillful FBAR Penalties" involving entities in the British Virgin Islands and Switzerland in USA v. Colin Campbell, described as a citizen of Canada residing in the USA, at the U.S. District Court for the District of Maine.

Cayman arm of GEMS Education Group faces liquidation over ‘CHF 63M unpaid Swiss rent award’

February 7, 2024

A Luxembourg property firm seeking to collect on a CHF 63 million arbitration award for unpaid rent on leased premises in Switzerland has applied to wind up a Cayman Islands entity that is part of the GEMS Education Group, which is one of the world's largest operators of private schools.

Meigerhorn II Etoy Sàrl v. GEMS Global Schools Ltd.: Winding Up Petition (‘CHF63M Debt’)

February 5, 2024

Winding Up Petition regarding an "Arbitration Award" of CHF63,161,980 arising from "a dispute regarding breaches of a series of lease agreements in relation to four adjacent parcels of land located in Etoy, Switzerland" in Meigerhorn II Etoy Sàrl, of Luxembourg v. GEMS Global Schools Limited, described as "part of the Global Education Management Systems (GEMS) group of companies which carries on business in jurisdictions around the world including Dubai, Switzerland, United Kingdom and United States", at the Grand Court of the Cayman Islands.

Sunil Kavuri et al v. FTX Trading Ltd. et al: Complaint (‘Foreign FTX Customers’)

January 31, 2024

Complaint by "Customers of FTX.com located outside the United States of America, who held accounts on the FTX.com platform as of the Petition Date" seeking "a declaration that assets customers deposited, held, received, or acquired on the FTX.com platform are customer property and not property of the Debtors’ estates" in Sunil Kavuri, a citizen and resident of the United Kingdom; Ahmed Abd-El-Razek Noia Capital SÀRL, of Luxembourg, and Patrick Rabbitte v. FTX Trading Ltd., Alameda Research LLC, Alameda Research Ltd, Alameda Research Holdings Inc., Clifton Bay Investments LLC, West Realm Shires Services Inc., West Realm Shires Financial Services Inc., Ledger Holdings Inc., FTX Japan Holdings K.K., FTX Europe AG, FTX Property Holdings Ltd, LT Baskets Ltd., Alameda TR Ltd, Allston Way Ltd, Analisya Pte Ltd, Atlantis Technology Ltd., Bancroft Way Ltd, Blue Ridge Ltd, Cardinal Ventures Ltd, Cedar Bay Ltd, Liquid Securities Singapore Pte Ltd, Maclaurin Investments Ltd., Mangrove Cay Ltd, Paper Bird Inc, Pioneer Street Inc., Quoine India Pte Ltd, Quoine Vietnam Co. Ltd, SNG INVESTMENTS YATIRIM VE DANISMANLIK ANONIM SIRKETI, Strategy Ark Collective Ltd., Technology Services Bahamas Limited, Verdant Canyon Capital LLC, West Innovative Barista Ltd., Western Concord Enterprises Ltd., FTX Equity Record Holdings Ltd, FTX Exchange FZE, FTX Hong Kong Ltd, FTX Japan K.K., FTX Japan Services KK, Alameda Aus Pty Ltd, Alameda Research (Bahamas) Ltd, Alameda Research KK, Alameda Research Pte Ltd, Alameda Research Yankari Ltd, Alameda TR Systems S. de R. L., Blockfolio, Inc., Clifton Bay Investments Ltd, Cottonwood Grove Ltd, Crypto Bahamas LLC, Deep Creek Ltd, Digital Custody Inc., FTX Canada Inc, FTX Digital Holdings (Singapore) Pte Ltd, FTX Products (Singapore) Pte Ltd, FTX Services Solutions Ltd., FTX Structured Products AG, FTX Trading GmbH, FTX Zuma Ltd, Global Compass Dynamics Ltd., Goodman Investments Ltd., Hawaii Digital Assets Inc., Innovatia Ltd, Island Bay Ventures Inc, Killarney Lake Investments Ltd, Zubr Exchange Ltd, Alameda Global Services Ltd., Cottonwood Technologies Ltd, Deck Technologies Holdings LLC, Deck Technologies Inc., Euclid Way Ltd, FTX Digital Assets LLC, FTX EMEA Ltd., FTX US Trading, Inc., Hive Empire Trading Pty Ltd, Liquid Financial USA Inc., LiquidEX LLC, North Dimension Inc, North Wireless Dimension Inc., LedgerPrime Bitcoin Yield Enhancement Master Fund, LLC, LedgerPrime Digital Asset Opportunities Fund, LLC, LedgerPrime Digital Asset Opportunities Master Fund LP, LedgerPrime LLC, LedgerPrime Ventures, LP, North Dimension Ltd, Quoine Pte Ltd, Cedar Grove Technology Services, Ltd., DAAG Trading, DMCC, FTX Certificates GmbH, FTX Crypto Services Ltd., FTX EU Ltd., FTX Lend Inc., FTX Marketplace, Inc., FTX Switzerland GmbH, FTX TURKEY TEKNOLOJI VE TICARET ANONIM SIRKET, FTX US Services, Inc., FTX Ventures Ltd., GG Trading Terminal Ltd, Good Luck Games, LLC, Hannam Group Inc, Hilltop Technology Services LLC, West Realm Shires Inc., and LedgerPrime Bitcoin Yield Enhancement Fund, LLC at the U.S. Bankruptcy Court for the District of Delaware.