Switzerland

Moussy Salem v. UBS AG: Discovery Application (England)

January 3, 2024

Application by Moussy Salem to take discovery from UBS AG for use in legal proceedings in England in which Salem, "on behalf of Monline International Limited ... asserts claims against one of Monline International’s directors, Freddy Salem, and Monline UK Limited and Monline UK’s sole directors and shareholders, Salim Levy and Ezra Aghai", filed at the U.S. District Court for the District of Connecticut.

Maarit Ovaskainen v. Jari Ovaskainen: Judgment (‘Asset Freeze Discharge Application’)

December 29, 2023

Judgment rejecting the defendant's application to discharge a freezing injunction in Maarit Ovaskainen, a citizen of Finland residing in London, England v. Jari Ovaskainen, a citizen of Finland residing in the Cayman Islands, at the Grand Court of the Cayman Islands.

Starboard Capital SA: Public Warning (Switzerland)

December 28, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that Starboard Capital SA "is "suspected of conducting unauthorised activities in the financial market".

Another Cayman fund operated by U.S.-based Dennis Klemming goes into liquidation

December 21, 2023

Another Cayman Islands mutual fund - SPI Investment Fund SPC - affiliated with Miami Beach-based Swedish national Dennis Klemming's Prudent Group has gone into liquidation - 21 months after its independent directors were removed after uncovering evidence of fraud.

SPI Investment Fund SPC: Directors (December 2023)

December 20, 2023

Director Details for SPI Investment Fund SPC, obtained from the Cayman Islands General Registry on December 20th, 2023.

SPI Investment Fund SPC: ‘Court Supervision’ Petition

December 20, 2023

Petition for Court Supervision of a Voluntary Liquidation in the matter of SPI Investment Fund SPC (in Voluntary Liquidation) at the Grand Court of the Cayman Islands.

Peter Schur v. Brady Dougan et al: Class Action Complaint (‘Credit Suisse Bondholders’)

December 18, 2023

Class Action Complaint alleging negligent breach of duties against "former Credit Suisse directors and senior executives" in Peter Schur, individually and on behalf of other Credit Suisse Group AG ATI Bondholers v. Brady W. Dougan, Eric Arvel, James L. Amine, Timothy P. O'Hara, David Miller, Brian Chin, Christian Meissner, Gaël de Boissard, Urs Rohner, Tidjane Thiam, Thomas Gottstein, António Horta-Osório, Robert S. Shafir, Lara J. Warner, Richard E. Thornburgh, Andreas Gottschling, Michael Klein, and Noreen Doyle at the U.S. District Court for the Southern District of New York.

BlockFi Lending LLC v. Digistar Norway AS et al: Dismissal (‘$37M Crypto Loan’)

December 13, 2023

Stipulation of Dismissal & Dismissal Order in BlockFi Lending LLC v. Digistar Norway AS, of Norway; Nessim-Sariel Gaon, described in the complaint as a resident of London, England, and Fiorenzo Manganiello, described in the complaint as a resident of Geneva, Switzerland, at the U.S. Bankruptcy Court for the District of New Jersey.

WV Financial Services SA: Public Warning (Switzerland)

December 12, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that WV Financial Services SA "is "suspected of conducting unauthorised activities in the financial market".

TYR Capital Partners SPC Ltd.: Directors (Cayman Islands)

December 12, 2023

Director Details for TYR Capital Partners SPC Ltd., obtained from the Cayman Islands General Registry on December 12th, 2023.

TGT GP v. TYR Capital Partners SPC Ltd.: Winding Up Petition (‘Swiss Criminal Investigation’)

December 12, 2023

Winding Up Petition alleging "a serious and demonstrable lack of probity in the conduct of the Fund's affairs" in TGT GP, as General Partner of TGT LP, which are "part of the wider Unifi group of companies" that operates "a digital wealth platform that allows individuals to lend their cryptocurrency assets to Yield App for a fixed interest rate" v. TYR Capital Partners SPC Ltd. at the Grand Court of the Cayman Islands.

BTA Bank v. Timur Sabyrbaev et al: Judgment (‘Setting Aside Out-of-Jurisdiction Service Order’)

December 7, 2023

Judgment setting aside an order to serve defendants ADM Asia-Pacific Trading Pte. Ltd., ADM Germany GmbH, Grove Services Inc., Bunge SA, Bunge CIS LLC, Dauren Bekbergenov, Ekaterina Kuzmicheva, Mukhtar Ablyazov, Roman Solodchenko, and Zhaksylyk Zharimbetov out of the jurisdiction in JSC BTA Bank, of Kazakhstan v. Timur Sabyrbaev, Dilara Dyusembayeva, Assel Zhaxybayeva, Asel Suindikova, Marina Aitzhanova, Janelle Utemuratova, Svetlana Chvanova, Veronika Efimova, Saduakas Mameshtegi, Dina Abdykalykova, Akzholtay Mukanovna Kalenova, Kairat Sadykov, Irina Kanaphina, Madina Nurgozhina, AEG Systems Inc., Calernen Finance Inc., Zathen Holding Investments Limited, formerly Carsonway Limited; Comwork Ltd.,Kinmate Trading Limited, Estar Developments Limited, Lingard Industry Limited, Daniels Tradecorp Inc., Mabco Inc., Klostrade Financial Group Ltd., Dana Trade Corp., Global Team Company, Tramlanes Investments Limited, formerly Bergtrans Contracts Corp.; Moranta Invest (Cyprus) Limited, John Wortley Hunt, Luis Davis, Stan Gorin, Vasiliki Argyrou, Labonte Elisana Marie-Antoinette, Diego Jacinto Batista Valdes, Carlos Alberto Mendoza Murillo, Suseth Walthia Parris, Kellee France, Geoffrey Taylor, Belinda Lanyon, Christopher Blythe, Roger Alberto Santamaria, Nicholetta Christodoulidou, ADM-ACTI Trade Resources Inc., ADM Asia-Pacific Trading Pte. Ltd., formerly Toepfer International Asia Pte. Ltd.; ADM Germany GmbH, formerly Alfred C. Toepfer International GmbH; Eric Richardson, Grove Services Inc., Bunge SA, Bunge CIS LLC, Dauren Bekbergenov, Ekaterina Kuzmicheva, Mukhtar Ablyazov, Roman Solodchenko, and Zhaksylyk Zharimbetov at the British Virgin Islands High Court.

Weatherford Switzerland Trading and Development GmbH et al v. PDVSA Petróleo S.A.: Notice of Removal (‘$90M Bonds Default’)

December 7, 2023

Notice of Removal by the defendants in Weatherford Switzerland Trading and Development GmbH, of Switzerland, and Weatherford Latin America, S.C.A., of Venezuela v. PDVSA Petróleo S.A., of Venezuela, at the U.S. District Court for the Southern District of New York.

USA v. Banque Pictet & Cie S.A.: Criminal Information (‘Tax Fraud’)

December 4, 2023

Criminal Information alleging conspiracy to defraud the United States in USA v. Banque Pictet & Cie S.A., described as "a privately held Swiss financial institution, headquartered in Geneva", at the U.S. District Court for the Southern District of New York.

Suo Tempore AG: Public Warning (Switzerland)

December 1, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that Suo Tempore AG "is "suspected of conducting unauthorised activities in the financial market".

Crawford Trust Company LLC v. Citco Group Ltd. et al: Complaint

December 1, 2023

Complaint alleging "breach of duty, negligence, including gross negligence, deceit, fraud and concealment by a trustee of its fiduciary and other obligations to The Loving Trust’s beneficiaries" in Crawford Trust Company LLC v. Citco Group Limited, of the Netherlands; Citco Group (Monaco) SAM, of Monaco; Citco Global Custody (N.A.) N.V., of Curaçao; TorTrust Corporation Company Limited, of the British Virgin Islands; Citco Trustees S.A., of Switzerland; Citco B.V.I. Limited, of the British Virgin Islands; Citco Bank BVI Limited, of the British Virgin Islands;Citco Bank & Trust Company Limited, of the Cayman Islands; Citco Banking Corporation N.V., of Curaçao; Securitias Management Services Corp., of the British Virgin Islands; Citco Fund Services (Cayman Islands) Ltd., of the Cayman Islands; Credit Suisse S.A., of Switzerland; Ermanno Unternaehrer, described as a resident of Monaco, and Christopher Smeets, described as a resident of the Netherlands, at the Superior Court of California, County of Los Angeles.

USA v. Steve Bajic: Criminal Information (‘Pump-and-Dump Securities Fraud’)

November 28, 2023

Criminal Information alleging conspiracy to commit securities fraud involving two unidentified co-conspirators in Vietnam and Switzerland who were described as "co-founders and co-operators of Blacklight S.A.m a purported asset management firm in Switzerland" and entities in Anguilla, Hong Kong, Seychelles and USA, in USA v. Steve M. Bajic, described as a resident of Canada, at the U.S. District Court for the District of Massachusetts.

Henry Gabay: Chapter 15 Petition (England)

November 27, 2023

Chapter 15 Petition for Recognition of a Foreign Main Proceeding in England by Nicholas Nicholson, Prashan Patel, and Kevin Hellard, all of Grant Thornton, as the Foreign Representatives of Isak Henry Gabay, described as a citizen of Switzerland and co-founder of Hong Kong-domiciled, England-based Duet Group Ltd. - a "global investment holding company" that managed "over $4.4 billion of equity" - who has been criminally charged in Germany with tax-related offenses regarding "Duet Group’s involvement in “Cum-Ex” transactions", filed at the U.S. Bankruptcy Court for the Southern District of New York.

Visamar Group GmbH: Public Warning (Switzerland)

November 21, 2023

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

USA v. H.W. Wood Ltd. et al: Deferred Prosecution Agreement (‘$22.5M Fine-Ecuador Bribery’)

November 20, 2023

Deferred Prosecution Agreement in USA v. H.W. Wood Limited, described as "an international reinsurance broker" based in England, at the U.S. District Court for the Southern District of Florida.

USA v. Tysers Insurance Brokers Ltd. et al: Deferred Prosecution Agreement (‘$36M Fine-Ecuador Bribery’)

November 20, 2023

Deferred Prosecution Agreement in USA v. Tysers Insurance Brokers Limited, of England, described as an "international reinsurance broker", at the U.S. District Court for the Southern District of Florida.

Glencore Finance (Bermuda) Ltd. v. Bolivia: First Amended Petition to Enforce Arbitral Award ($253M)

November 17, 2023

First Amended Petition to Enforce Arbitral Award that “arises from Bolivia’s nationalization of certain investments made by Glencore in Bolivia” in Glencore Finance (Bermuda) Ltd., described as a Bermuda subsidiary of Jersey, Channel Islands-domiciled, Switzerland-based Glencore Plc v. The Plurinational State of Bolivia at the U.S. District Court for the District of Columbia.

Euro Hypo GmbH: Public Warning (Switzerland)

November 17, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that Euro Hypo GmbH is "suspected of conducting unauthorised activities in the financial market".

Stack NFT LLC v. NEAR Stiftung: Motion to File Complaint Under Seal (‘Crypto Dispute’)

November 7, 2023

Motion for Leave to File Complaint Under Seal in Stack NFT LLC, which is described on its website as "a utility NFT project" v. NEAR Stiftung (NEAR Foundation), which is described on its website as " a Switzerland-based nonprofit foundation (Stiftung) whose mission is to enable community driven innovation to benefit people around the world", at the U.S. District Court for the Eastern District of Texas.

Roland Beerli v. BVI Registrar of Corporate Affairs: Restoration Application (Pro Invest Overseas Ltd.)

November 1, 2023

Fixed Date Claim Form regarding Pro Invest Overseas Ltd. in Roland Beerli, of Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

USA v. Tysers Insurance Brokers Ltd. et al: Criminal Information (‘$2.8M Ecuador Bribery Scheme’)

October 24, 2023

Criminal Information alleging conspiracy to violate the Foreign Corrupt Practices Act by bribing "foreign officials" in Ecuador "to secure improper advantages in order to obtain or retain reinsurance business from Seguros Sucre and Rocafuerte" in USA v. Tysers Insurance Brokers Limited, formerly Integro Insurance Brokers Limited, and H.W. Wood Limited, each described as "an international reinsurance broker based in the United Kingdom", at the U.S. District Court for the Southern District of Florida.

Bolder Fund Services (Cayman) Ltd.: Directors (Cayman Islands)

October 19, 2023

Director Details for Bolder Fund Services (Cayman) Limited, obtained from the Cayman Islands General Registry on October 19th, 2023.

Monaco-based retired banker Stephen Schechter pleads guilty to offshore tax evasion in U.S.

October 15, 2023

Monaco-based retired investment banker Stephen Schechter, 78, who is a dual citizen of the United States and United Kingdom, has pleaded guilty to tax evasion in the United States involving entities in the British Virgin Islands entities and bank accounts in Monaco and Switzerland.

USA v. Stephen Schechter: Plea Agreement (‘Offshore Tax Evasion’)

October 13, 2023

Plea Agreement in USA v. Stephen Schechter at the U.S. District Court for the District of Columbia.

USA v. Stephen Schechter: Plea Hearing Transcript (‘Offshore Tax Evasion’)

October 13, 2023

Arraignment/Plea Hearing Transcript in USA v. Stephen Schechter, a Monaco-based retired investment banker, at the U.S. District Court for the District of Columbia.

USA v. Stephen Schechter: Statement of Offense (‘Offshore Tax Evasion’)

October 13, 2023

Statement of Offense regarding tax evasion in USA v. Stephen L. Schechter, a dual citizen of the United States and United Kingdom residing in Monaco, at the U.S. District Court for the District of Columbia.

‘Remove my name’, writes Swiss convicted fraudster & struck-off attorney Matthew Ledvina (again)

October 12, 2023

A second letter in two months from Matthew Ledvina, a U.S. tax adviser in Switzerland who pleaded guilty to securities fraud in the USA in 2018 and was struck off as an attorney in England in 2022, requesting the removal of his name from OffshoreAlert's website, claiming that publication of his misdeeds breaches Europe's General Data Protection Regulation (GDPR) and his "right to be forgotten" and is causing "unwarranted harm to me or my reputation, which is contrary to my legitimate interest in the protection of my privacy".

Glencore Finance (Bermuda) Ltd. v. Bolivia: Petition to Enforce Arbitral Award ($253M)

October 11, 2023

Petition to Enforce Arbitral Award that "arises from Bolivia’s nationalization of certain investments made by Glencore in Bolivia" in Glencore Finance (Bermuda) Ltd., described as a Bermuda subsidiary of Jersey, Channel Islands-domiciled, Switzerland-based Glencore Plc v. The Plurinational State of Bolivia at the U.S. District Court for the District of Columbia.

Lavinia Arpesella et al v. Venezuela: Complaint (‘$11M Bonds Default’)

October 11, 2023

Complaint by residents and citizens of Argentina, Germany, Italy, Switzerland, and United Kingdom in Lavinia Arpesella, Pietro Arpesella, Florian Markus Borck, Andreas Michael Boukai, Ermanno Cavara, Marco Cavara, Giancarlo Coiana, Anna Daniela Musiani, Jakob Heichele, Manuela Heimbeck, Massimo Mazzaccone, Juan Carlos Ozores, Hartmut W. Peters, Niccolo Portu, Antonella Raso, Josef Johann Schneider, Marleen Maria Schneider, Giovanni Todesco, Michael Zahn, and Sabine Zahn v. The Bolivarian Republic of Venezuela at the U.S. District Court for the Southern District of New York.

Loewenstein Invest Schweiz AG v. EDPNet Inc.: Complaint (‘Inspection of Books & Records’)

October 9, 2023

Complaint to Compel Inspection of Books and Records in Loewenstein Invest Schweiz AG, described as "an investment holding company organized under the laws of Switzerland" v. EDPNet Inc. at the Court of Chancery of the State of Delaware, USA.

Roland Beerli v. BVI Registrar of Corporate Affairs: Restoration Application (Nedina Commercial Corp.)

October 6, 2023

Fixed Date Claim Form regarding Nedina Commercial Corp. in Roland Beerli, of Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Todd Benjamin International Ltd. et al v. Grant Thornton (Cayman Islands) et al: Second Amended Class Action Complaint

October 4, 2023

Second Amended Class Action Complaint "for negligent misrepresentation, aiding and abetting fraud, and aiding and abetting breach of fiduciary duty against Grant Thornton for enabling a massive overvaluation scheme orchestrated through a private investment fund that was managed by TCA Fund Management Group Corp." in Todd Benjamin International Ltd., of the United Kingdom; Todd Benjamin, described as a citizen of the USA residing in the United Kingdom; Zbynek Dvorak, a citizen of the Czech Republic residing in Switzerland, and Fawzi Bawab, a citizen of Canada residing in the United Arab Emirates v. Grant Thornton Cayman Islands, of the Cayman Islands, and Grant Thornton Ireland, of Ireland at the U.S. District Court for the Southern District of Florida.

Chryskylodon LLC v. Markus Schneider et al: $475K Judgment (‘Crypto Fraud’)

September 27, 2023

Judgment for $475,282 regarding an alleged crypto mining-based investment fraud in Chryskylodon LLC, of Wyoming v. Markus Schneider, Arastra AG, of Switzerland; PetaWatt Holdings Inc., of Wyoming, USA, and Swiss Picturebank (Group) AG, of Switzerland, at the Supreme Court of the State of New York, County of New York.

ProInvest Equity AG: Public Warning (Switzerland)

September 25, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that ProInvest Equity AG is "suspected of conducting unauthorised activities in the financial market".

Swiss Business Company GmbH: Public Warning (Switzerland)

September 5, 2023

Public Warning by the Swiss Financial Market Supervisory Authority that Swiss Business Company GmbH is "suspected of conducting unauthorised activities in the financial market".

Jin Lee Tan v. BVI Registrar of Corporate Affairs: Restoration Application (Yulima International Ltd.)

August 31, 2023

Fixed Date Claim Form regarding Yulima International Ltd. in Jin Lee Tan, of Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.

‘Remove my name from your ridiculous website’, writes Geneva-based Jonathan Curci (again)

August 29, 2023

Second letter from Jonathan Curci, copied to "my attorneys in Switzerland and Florida", requesting that OffshoreAlert remove his name from our website.

USA v. Assets Belonging to Glen Vine Partners Ltd. (BVI) at ONE Swiss Bank S.A. et al: Forfeiture Complaint (‘1MDB Fraud’)

August 28, 2023

Forfeiture Complaint regarding "assets involved in and traceable to an international conspiracy to, among other things, launder money misappropriated from 1Malaysia Development Berhad (“1MDB”), a strategic investment and development company wholly-owned by the government of Malaysia", in USA v. Pablo Picasso's 'Trois femmes nues et buste d'homme' drawing and All Funds and Assets on deposit in an account in the name of Glen Vine Partners Limited, of the British Virgin Islands, at ONE Swiss Bank S.A., in Switzerland, at the U.S. District Court for the Central District of California.

Mallinckrodt Plc et al: Chapter 11 Petition

August 28, 2023

Chapter 11 Petition by Mallinckrodt Plc, Acthar IP Unlimited Company, IMC Exploration Company, Infacare Pharmaceutical Corporation, INO Therapeutics LLC, Ludlow LLC, MAK LLC, Mallinckrodt APAP LLC, Mallinckrodt ARD Finance LLC, Mallinckrodt ARD Holdings Inc., Mallinckrodt ARD Holdings Limited, Mallinckrodt ARD IP Unlimited Company, Mallinckrodt ARD LLC, Mallinckrodt Brand Pharmaceuticals LLC, Mallinckrodt Buckingham Unlimited Company, Mallinckrodt CB LLC, Mallinckrodt Critical Care Finance LLC, Mallinckrodt Enterprises Holdings, Inc., Mallinckrodt Enterprises LLC, Mallinckrodt Enterprises UK Limited, Mallinckrodt Equinox Finance LLC, Mallinckrodt Hospital Products Inc., Mallinckrodt Hospital Products IP Unlimited Company, Mallinckrodt International Finance S.A., Mallinckrodt International Holdings S.à r.l., Mallinckrodt IP Unlimited Company, Mallinckrodt LLC, Mallinckrodt Lux IP S.à r.l., Mallinckrodt Manufacturing LLC, Mallinckrodt Pharma IP Trading Unlimited Company, Mallinckrodt Pharmaceuticals Ireland Limited, Mallinckrodt Pharmaceuticals Limited, Mallinckrodt Quincy S.à r.l., Mallinckrodt UK Finance LLP, Mallinckrodt UK Ltd., Mallinckrodt US Holdings LLC, Mallinckrodt US Pool LLC, Mallinckrodt Veterinary, Inc., Mallinckrodt Windsor Ireland Finance Unlimited Company, Mallinckrodt Windsor S.à r.l., MCCH LLC, MEH, Inc., MHP Finance LLC, MKG Medical UK Ltd., MNK 2011 LLC, MUSHI UK Holdings Limited, Ocera Therapeutics, Inc., Petten Holdings Inc., SpecGx Holdings LLC, SpecGx LLC, ST Operations LLC, ST Shared Services LLC, ST US Holdings LLC, ST US Pool LLC, Stratatech Corporation, Sucampo Holdings Inc., Sucampo Pharma Americas LLC, Sucampo Pharmaceuticals LLC, Therakos, Inc., Vtesse LLC, and WebsterGx Holdco LLC at the U.S. Bankruptcy Court for the District of Delaware.

Bank Julius Baer & Co. Ltd. v. JBAM Global Income Fund: Winding Up Petition (‘$9.3M Debt’)

August 24, 2023

Winding Up Petition in Bank Julius Baer & Co. Ltd., of Hong Kong v. JBAM Global Income Fund at the Grand Court of the Cayman Islands.

Loren Kelly v. FunPlus International AG et al: Class Action Complaint (‘Mobile App Game Fraud’)

August 14, 2023

Class Action Complaint "for falsely advertising price discounts for in-game purchases and other deceptive and unfair business practices in its mobile application game" in Loren Kelly v. FunPlus International AG, of Switzerland, and KingsGroup Holdings, of the Cayman Islands, at the U.S. District Court for the Northern District of California.

‘Stop violating my privacy’, writes Swiss U.S. tax adviser & convicted fraudster Matthew Ledvina

August 10, 2023

Letter from Matthew Ledvina, a U.S. tax adviser in Switzerland who pleaded guilty to securities fraud in Massachusetts in 2018 and was struck off as an attorney in England in 2022, requesting the removal of his name from OffshoreAlert's website, writing that "I am eager to enforce my rights as a Swiss citizen, to restore my privacy and to protect my personal information".

USA v. $21M: Forfeiture Complaint (‘Naman Wakil Bribery & Corruption’)

August 9, 2023

Forfeiture Complaint in USA v. $21.8 million "that constitutes proceeds of foreign bribery offenses, property involved in money laundering or a conspiracy to commit money laundering" involving Naman Wakil, described as "a Venezuelan citizen who became a permanent resident in the United States in or around 2012", and accounts in the Cayman Islands and Switzerland, filed at the U.S. District Court for the Southern District of Florida.

‘Remove my name or I’ll sue’, writes Geneva-based Jonathan Curci

August 5, 2023

Letter from Jonathan Curci threatening to sue OffshoreAlert unless we removed his name from our website in association with Swiss International Asset Management AG, which was the target of a public warning by the Swiss Financial Market Supervisory Authority on May 16th, 2023 on suspicion of "conducting unauthorised activities in the financial market", on the basis that he ceased being a director of the company 17 months before the warning was issued. After receiving his letter, OffshoreAlert found a second company (GDM Finance Sàrl) that was the target of a similar FINMA warning in 2019 less than three months after Curci had ceased being Managing Director.

Joel Dietz v. Consensys Inc. et al: Complaint (‘MetaMask Crypto Dispute’)

August 1, 2023

Complaint alleging "betrayal and deceit in a partnership formed to develop a browser-based cryptocurrency wallet" in Joel Dietz v. Consensys Inc., Consensys Software Inc., Consensys AG, of Switzerland; Joseph Lubin, Aaron Davis, and Daniel Finlay at the Superior Court of California, County of San Francisco.