United Kingdom: Francis Sherman et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged tax fraud involving Seawise Insurance Consultants Limited.
United Kingdom: Philip Barton
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into suspected fraudulent trading and money laundering by Philip Barton.
Insider Talking: October 31, 2002
In the wake of action taken by Swiss authorities against the Zurich based Sovereign Finance Group, which is being investigated for money laundering involving Russia and the Caribbean, regulators in St. Vincent & the Grenadines are taking action against Sovereign
Self-dealing CEO Gregory Pek retires from Brek Energy
Canadian national Gregory Pek has retired as President and CEO of loss making Brek Energy, formerly First Ecom.com, and been replaced by 57 year old Richard Jeffs.Pek stepped down only a few months after overseeing Brek's purchase for $770,000 of
Former offshore banker David Taylor arrested in UK fraud investigation
The former General Manager of Overseas Development Bank & Trust, of Dominica, and three accountants in the United Kingdom have been arrested as a part of an investment fraud investigation.David Taylor was arrested and granted police bail in Leicestershire, England, in October, along with Shinder Singh Gangar, Alan White and Ian Collins.
United Kingdom: John Abrahamson et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged fraud by John
Abrahamson, Geoffrey Brailey, Roger Eden and Jeffrey Fowler, who were all former directors of Corporate Services Group Plc.
Finland: Ismo Sakari Pentikainen
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Finland into Ismo Sakari Pentikainen and Martti Untamo Sihvola for alleged embezzlement.
Belgium: Samih Ossaily
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belgium into Samih Ossaily, Aziz Nassour, Nora Vlasselaerts, Abbas Macky and others for suspected participation in a criminal organization involved in money laundering, arms dealing and illegal diamond trading.
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Imperial Consolidated administrator warns of dubious ‘asset recovery’ scheme
Imperial Consolidated administrator Mazars Neville is warning victims of the Imperial fraud to be wary of approaches for money by Weddington Holdings Ltd., which may be an advance fee fraud.Weddington has been telephoning and emailing clients of Imperial and asking them for $2,500 each to purportedly fund an "Asset Recovery Program" outside of that being conducted by Mazars Neville.
United Kingdom: Hercules Holdings
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into suspected investment fraud by William Booth Cook and Donald Nutter.
Insider Talking: September 30, 2002
The Imperial Consolidated fraud has taken a further turn for the bizarre with the distribution in September of several press releases, masquerading as news stories, by a newly incorporated British company called Matrix International (Management) Ltd., whose commercial address is
Stirling Cooke changes name to AlphaStar Insurance Group
Crisis firm Stirling Cooke Brown Holdings has changed its name to AlphaStar Insurance Group Ltd., effective September 30, in its latest attempt to shed itself of its poor image.The firm stated that its "Board of Directors had decided that a
United Kingdom: Neil Edward Walker et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Neil Edward Walker, James George Thomas Brooman, Ian David Cale, Irnraan Abid Karim, Barrie John Connor, Timothy Theobald, David Hodgson, Simon Morley, Craig Mark Ireland and Iftekhar Ahmed for alleged tax fraud.
USA v. Richard F. Downes: US Response to Defendant’s Factual Objection
United States' Response to Defendant's Factual Objection and Motions for Downward Departure in USA v. Richard F. Downes at the U. S. District Court for the Southern District of Florida.
Poland: Mariella Company
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into Mariella LLC for alleged tax fraud.
USA v. Richard F. Downes: Objection to Presentence Report
Defendant's Objection to Presentence Report and Motion for Downward Departure in USA v. Richard F. Downes at the U. S. District Court for the Southern District of Florida.
Germany: Edmund Ballier et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Germany into Edmund Ballier, Friedrich-Karl Gradl, Detlev Pinnow, Gerd Ullrich, Fritz-Heinz Bosking, Wolfgang Hummer, Philipp Schauer, Ludwig Schauer and others for alleged fraud.
Switzerland: Henderson Pacific et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Hans Josef Ludwig, Georg Eduard von Boguslawski, Robert Schoch and Lidia Santangelo-Ortoleva for alleged fraud involving Henderson Pacific Private Bank and Henderson Pacific Financial Services AG.
United Kingdom: Nathan Meyyappan et al
Application for the appointment of a Commissioner for a criminal investigation in the United Kingdom into Nathan Meyyappan, Richard Parfett and Ronan Moss for allegedly dishonestly receiving stolen goods, dishonestly arranging to receive stolen goods, conspiracy to commit burglary and conspiracy to receive stolen goods.
Insider Talking: August 31, 2002
European Federal Union Bank Ltd. falsely claims to be based in Antigua; Barbados Central Bank revokes license of Keywest Swiss Investment Bank Inc.; DIAK Bank's Clifford Pitt fails in an attempt to quash a subpoena duces tecum; John Wayne Zidar is gound guilty of fraud and money laundering; US federal court approves IRS motion to serve John Doe summons on MasterCard International for investigation into tax evasion using offshore credit cards; Offshore bankers Julien Giraud and Brian Boeger have each been sentenced to 37 months in prison in the United States; and an auction of property belonging to Imperial Consolidated is due to take place in England.
Former Imperial Consolidated insiders set up new investment scam
A new investment scam that has arisen out of the ashes of the failed Imperial Consolidated Group is being run along virtually identical lines, OffshoreAlert can reveal.
Potential investors in a British Virgin Islands-registered firm doing business as 'Property International' are being offered annual interest rates of 18 per cent by Imperial's former management and promoters.
United Kingdom: Kevin Dooley et al (Florida)
Application for the appointment of a Commissioner to collect evidence from Pinebank - pursuant to a request for judicial assistance from the United Kingdom - for a criminal investigation into "Kevin Dooley, John Silver and others for theft and conspiracy to defraud".
United Kingdom: James Cadwell et al
Application for the appointment of a Commissioner for a criminal investigation in the United Kingdom into alleged fraud by James Cadwell, Richard Pope and David Curley.
Asset freeze order issued against Imperial Consolidated founders
A worldwide mareva injunction has been issued in the United Kingdom against Lincoln Fraser and Jared Brook, who co-founded the fraudulently-operated Imperial Consolidated Group.
The injunction freezes all personal and business assets belonging to Fraser and Brook.
Trenwick Group seeks $55 million from European Re
Trenwick Group Ltd. has started an arbitration proceeding seeking $55 million in damages and other relief against European Reinsurance Company of Zurich, a subsidiary of Swiss Reinsurance Company.The claims arise out of European Re's alleged failure to meet its obligations under a Catastrophe Equity Securities Issuance Option Agreement with Trenwick, stated a Trenwick press release dated July 1.
Stirling Cooke’s broking MD resigns
The Managing Director of Stirling Cooke Brown's London broking operations, now renamed Gresham Intermediaries, has resigned after less than 12 months with the group.
Actions From Regulators Around the World
Basic details of warnings and actions by regulators around the world.
Salisbury Merchant Bank offices raided in share scam investigation
Yet another Grenada-licensed offshore bank has been taken over by regulators amid allegations of fraud and investigations by foreign police authorities.Salisbury Merchant Bank had accountant Marcus Wide, of PricewaterhouseCoopers, appointed as its controller on July 25 following an application to the Grenada High Court.
Insider Talking: July 31, 2002
Hendrik Rienstra, 73, the principal of sham Panama-registered insurer New England International Surety Co. Inc., has died.; OffshoreAlert has uncovered three new names associated with the business activities of crooked financial services provider Marc M. Harris, who has moved his operations to Nicaragua after running up massive debts in Panama, leading to an application from a creditor to wind up his company and an eviction notice issued by his commercial landlord; Police in the UK have charged a fourth person, Francois M. Verkaeren, with conspiracy to commit fraud in connection with an investigation into the business practices of Merrion Reinsurance Company, which is located in Dublin, Ireland; The Royal Canadian Mounted Police has announced that two residents of the Turks & Caicos Islands - Michael Witt, 45, and his partner, Tina Grenier, 41 - have been arrested and charged with various narcotics, money laundering and possession of crime offenses and their US$1 million property restrained in an operation codenamed 'Oilsheik'; and Local newspapers in the Bahamas have suddenly become excited over a criminal indictment that was issued in the United States as long ago as June 15, 1999.
Imperial Consolidated administrator awaits results of geological survey in Argentina
The results of an independent geological survey of 4.5 million acres of land in Argentina to which the Imperial Consolidated Group has mining rights are expected to be known by the end of August.
They will go a long way to determining the level of dividend creditors can reasonably expect, said a spokesman for Imperial's UK-based administrator, Mazars Neville Russell.
ACE considers slashing Lloyd’s of London capacity
Bermuda-based ACE is considering reducing the capacity of its Lloyd's Syndicate by 27.5 per cent for the 2003 underwriting year, according to a report in The Insurance Insider newsletter, of London.ACE has drawn up a provisional business plan to reduce the capacity of Syndicate 2488 from GBP900 million (US$1.4 billion) to GBP652 million (US$1 billion) for the underwriting year 2003.
‘Thank you for the information about Imperial Consolidated fraud’, writes victim
Letter to the Editor of OffshoreAlert from a victim of the Imperial Consolidated Group.
United Kingdom: Ann Marie Pyle
Application for the appointment of a Commissioner to collect evidence for the criminal prosecution in the United Kingdom of Ann Marie Pyle for the alleged murder of her father, William Pyle.
Turks and Caicos Islands: Dwight Rigby
Application for the appointment of a Commissioner to collect evidence for a criminal prosecution in the Turks and Caicos Islands into Dwight Rigby for alleged forgery, theft and money laundering while employed by Temple Securities.
Regulatory Warnings: June 30, 2002
Recently-filed warnings from securities regulators around the world.
Charman-Aon-GIO lawsuit settled in UK
A settlement has been reached in a lawsuit filed in the UK by former ACE officer John Charman against Aon and GIO Reinsurance, according to a report in The Insurance Insider newsletter, of London.
The dispute related to reinsurance placed with Australia-based GIO by Aon on behalf of ACE's Lloyd's Syndicates 488 and 2488.
Imperial Consolidated has debts of US$336 million
The value of mining rights in economically crippled Argentina will determine the financial condition of the Imperial Consolidated Group.
More than 50 per cent of Imperial's total assets - on paper - are in holdings in mining ventures in Tucuman, said a spokesman for the group's UK-based administrator, Mazars Neville Russell Services.
Lincoln Fraser blames OffshoreAlert for Imperial Consolidated’s problems
After many months of refusing to be interviewed by OffshoreAlert, Imperial Consolidated co-founder Lincoln Fraser finally responded to questions about his business activities on June 30. In an email, Fraser inferred that it was inaccurate to state that Imperial had "collapsed" and disputed our assertion that he had a track record of failure in business, even though he was petitioned into bankruptcy in 1996 by a creditor, was last year disqualified from serving as a company director for four years in the UK and has managed at least two previous firms which were compulsorily wound-up by their creditors, namely Progressive Leisure Ltd. and Fraser Brook Corporation Ltd.
NatWest bankers accused of fraud involving Enron Corp.
Three former British bankers have been accused of defrauding their employer, National Westminster Bank PLC, of $7.3 million in a scheme involving Enron Corp. and several offshore entities.Gary Steven Mulgrew, 40; Giles Robert Hugh Darby, 40; and David John Bermingham, 39, were each charged with one count of wire fraud at the U.S. District Court in Houston, Texas on June 27, 2002.
Imperial Consolidated goes into administration
The Imperial Consolidated Group has gone into 'voluntary administration' in the United Kingdom.
The news was announced today by Imperial's London-based public relations firm, Luther Pendragon.
Arrest warrant issued for former Bermuda insurance officer Simon Samuels
An arrest warrant has been issued in Las Vegas for 46 year old former Bermuda based insurance officer Simon John Samuels.The warrant was issued at the U. S. District Court for the District of Nevada on February 21, 2002 -
Grenada regulators extend control of Imperial Consolidated’s offshore bank
Grenada's Ministry of Finance has extended the control of its agent, PricewaterhouseCoopers, over Imperium Bank until June 9 while it prepares to shut it down permanently.Regulators also want to close the mutual funds that the bank administers but have been
Britex International’s Colin Barr explains group’s relationship with Imperial Consolidated
OffshoreAlert has received several inquiries over the last month from people around the world who have invested with Imperial Consolidated's offshore mutual funds. Some of them said they invested through a broker called Britex International, whose promotion of Imperial's funds
‘Goldman Sucks’: Stirling Cooke’s sponsor performs just as badly in London
Goldman Sachs, which took Stirling Cooke Brown public in 1997 without disclosing its principals' history of fraud, has finished bottom of an IPO performance league table for the London market.
United Kingdom: Larry Claxton et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Larry Claxton and others.
USA v. Leo Malcolm West: Defendant’s Sentencing Memorandum
Defendant's Sentencing Memorandum in USA v. Leo Malcolm West at the U. S. District Court for the Southern District of Florida.
Northern Rock pulls out of Bahamas after just 17 months
Northern Rock PLC, which is the ninth largest publicly-listed bank in the United Kingdom, is pulling out of the Bahamas after just 17 months on the island.A spokesman for the company told OffshoreAlert: "I can confirm that with effect from 2 April 2002, Northern Rock (Bahamas) Ltd ceased to accept additional deposits or open new accounts.
Insider Talking: April 30, 2002
Business associated with Imperial Consolidated founders Lincoln Fraser and Jared Brook applies for permission to use a property on an old Royal Air Force base in England to store and test military equipment, Offshore Finance Authority of St. Vincent & the Grenadines revokes licenses of nine offshore banks, BVI Financial Secretary L. Allen Wheatley suspended from his duties after being arrested and charged with conspiracy to defraud, Bahamas International Securities Exchange reports net loss of $2.24 million for the 11 monthsended June 30, 2001, criminal action against Yank Barry drags on in Texas, British businessman Sean Quinn charged with US$3 million fraud in Barbados, former FIBG principals fail to comply with subpoeans, and the ego of Marc Harris apparently knows no bounds.
United Kingdom: Kentaro Matsumoto et al
Application for the appointment of a Commissioner to collect evidence for a money laundering investigation in the United Kingdom into Kentaro Matsumoto and Illy Chakrabarty.
United Kingdom: Mohinder Singh Basra et al(2)
Application for the appointment of a Commissioner to collect evidence for a criminal investigation into Mohinder Singh Basra and Javaid Akhtar Chaudhary regarding the alleged laundering of the proceeds of narcotics trafficking.