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United Kingdom: Kevin Dooley et al (Florida)

August 28, 2002
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

August 21, 2002
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

August 14, 2002
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

July 31, 2002
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

July 31, 2002
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.

Salisbury Merchant Bank offices raided in share scam investigation

July 31, 2002
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

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

July 31, 2002
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

July 31, 2002
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.

United Kingdom: Ann Marie Pyle

July 5, 2002
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

July 1, 2002
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.

Charman-Aon-GIO lawsuit settled in UK

June 30, 2002
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

June 30, 2002
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

June 30, 2002
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.

June 30, 2002
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

June 13, 2002
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.

United Kingdom: Larry Claxton et al

May 29, 2002
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Larry Claxton and others.

Northern Rock pulls out of Bahamas after just 17 months

April 30, 2002
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

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

April 25, 2002
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)

April 11, 2002
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.

United Kingdom: Mohinder Singh Basra et al

April 11, 2002
Application for the appointment of a Commissioner for to collect evidence for a money laundering investigation in the UK into Mohinder Singh Basra and Javaid Akhtar Chaudhary.

United Kingdom: Paul Winter Morris

April 1, 2002
Application for the appointment of a Commissioner to collect evidence for a money laundering investigation in the United Kingdom into solicitor Paul Winter Morris.

British firm makes fraudulent declarations with Companies House

March 31, 2002
A British firm has made false declarations regarding Bermuda and the Cayman Islands to regulators in Britain as part of what appears to be an investment fraud. The incorrect statements are made in the statutory filings of Tilehurst Corporation Ltd. with Companies House for England and Wales, where it was incorporated on March 17, 1999.

Arms dealer obtains asset freeze order against Imperial Consolidated Group

March 31, 2002
A Spanish court has issued an order that allows an international arms dealer and a related firm to freeze $8.5 million of assets belonging to the Imperial Consolidated Group. The order was issued on March 8, 2002 by the Court of the First Instance, in Marbella against Imperial Consolidated Inc., of Delaware; Imperium Bank, of Grenada; and Consolidated Mining Corporation Inc., of the Bahamas.

Alpha Toronto denies link with Bermuda-registered fund

February 28, 2002
A new group that is operated from the same offices as Imperial Consolidated by people who are described as ex-Imperial employees has denied that it has become involved with a Bermuda-registered mutual fund. A spokesman for Alpha Toronto described as "incorrect" an article that was recently published in a magazine operated by British-based Charterhouse Communications.

United Kingdom: Merrion Reinsurance et al

February 13, 2002
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Merrion Reinsurance and others.

Insider Talking: January 31, 2002

January 31, 2002
Less than a month after they were taken down as a result of an OffshoreAlert investigation, references to Grenada-registered Euro Caribbean Bank have been reinstated on the web-site of the 'Stock Exchange' of the sham country known as the Dominion of Melchizedek; Caribbean Media Corporation, which operated the Caribbean News Agency, popularly known as CANA, has suspended operations; Another web-site that has shut down, albeit for different reasons, is that of Prosperitas Internationale Credit Union at www.prosperitasinternationale.com; Vanuatu-domiciled International Seminars Ltd., which organizes offshore seminars at which get-rich-quick schemes are promoted, is operating under a new name - Global Wealth Education Ltd.; John Bourbon resigned as Managing Director of the Cayman Islands Monetary Authority, effective January 16, 2002 - 18 months after taking up the position, citing "personal reasons"; An ex-SEC officer is critical of his former employer in a book he has written about how the stock markets and the Internet are used to commit fraud against the unsuspecting public; Clyde Hood, the 67-year-old retired electrician from Mattoon, Illinois who persuaded thousands of people from all around the world to collectively send him more than $12 million by offering a return of 5,000 per cent in 275 days, has been sentenced to serve 14 years in prison; A web-site has been set up to raise funds to defend Kenneth R. Weare, of Belize-based J&K Global Marketing, against an SEC lawsuit filed on April 10, 2001, even though the case has ended without the defendants or their legal representatives ever putting in an appearance; The Isle of Man government has granted an online gaming license to Action Online Entertainment (IOM) Limited, which is the fifth firm to receive such a license; Imperial Consolidated is blaming its lawyers for its loss of a libel lawsuit in New Zealand, in which the judge determined they had fabricated documents submitted as evidence and questioned the legitimacy of their investment products; and Justice Hugh Small, sitting at the Bahamas Supreme Court, issued an order on December 20, 2001 that the voluntary liquidation of Americas International Bank Corporation Ltd. be continued but under the supervision of the court.

‘Risk proportional to reward’, says Gresham House chairman

January 31, 2002
After being alerted to a fraudulent letter linked with Keem Kalfon's group, Gresham House PLC Chairman Alfred P. Stirling issued a general warning to investors about being approached by anyone purporting to offer high investment returns. Stirling stressed that risk was proportional to reward in investment products.

Scottish Annuity appoints former UK Government Minister to Board

December 31, 2001
Scottish Annuity & Life Holdings has appointed a former member of the governments of UK Prime Ministers Margaret Thatcher and John Major as a director.Additionally, a deal that will make Pacific Life Insurance Company Scottish Annuity's largest shareholder has now been approved by Scottish Annuity's shareholders and regulators.

Insider Talking: December 31, 2001

December 31, 2001
Anglo American Bank has had its banking license reinstated by the Grenada International Financial Services Authority; Nevis-based offshore provider Robin Cotterell recently established an insurance company called Old Pacific Insurance Ltd.; Former Lines Overseas Management (Cayman) salesman Scott Oliver has popped up in Costa Rica as President of 'Somerset, Tighe and Campbell', which describes itself as a firm of "professional investment advisors" at its web-site at www.offshorecostarica.com; Inter Caribbean Business Management/Global Dominion Group in Nevis, which has been accused by at least one client of not redeeming her investment, has left Nevis and also closed down its web-sites; and Vladislav Popovic, the director of Richard & Partners, which is accounting firm Pannell Kerr Forster's representative in Montenegro, has confirmed that his firm has never carried out any auditing work for Montenegro-licensed Goldstar Commercial Bank AD, as claimed by the bank's principal, Gerardo Rodriguez Reynante, who is based in Uruguay.

Imperial Consolidated loses lawsuit, accused by judge of backdating documents

December 31, 2001
Imperial Consolidated, whose operations include an offshore bank and offshore mutual funds, has lost a defamation lawsuit that it brought in New Zealand against a former broker. In a judgment in the High Court of New Zealand on December 18, 2001, Judge William Young ruled that defendant David Frederick Stewart was being truthful when he criticized the group on a web-site.

Grenada-Montenegro banker plays down links to Melchizedek

December 31, 2001
A principal of two offshore banks has told OffshoreAlert that he no longer has anything to do with the Dominion of Melchizedek, despite his name appearing on literature associated with the fake nation.Peter Drakoulakos, who heads Euro Credit Bank A.D., of Montenegro, and Euro Caribbean Bank Ltd., of Grenada, was once listed as the South American "Ambassador" for Melchizedek on its web-site.

Reorganization continues at scandal-plagued Imperial Consolidated

December 31, 2001
Michael Gilbert, who was severely criticized by a New Zealand judge in a recent court ruling (see separate story), is part of a reorganization that involves the Imperial Consolidated Group and companies with the prefix 'Alpha'.The firm that he is a director of changed its name from Imperial Consolidated (New Zealand) Ltd. to Alpha Equities Asia-Pacific (NZ) Ltd. on November 29, 2001.

Poland: Mariella LLC

December 13, 2001
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into Mariella LLC for suspected tax fraud.

Insider Talking: November 30, 2001

November 30, 2001
Imperial Consolidated founders Lincoln Fraser and Jared Brook have been given additional time to wind up their business affairs before their four year disqualification as company directors in England and Wales becomes effective. A judge sitting at Blackpool County Court

Italy: Armando Cultrera et al

November 14, 2001
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Italy into Armando Cultrera, Vincenzo Cultrera, Carmela Cultrera, Roberto Cultrera, Isabella Albergo, Franco Giardano, Sonia Bonazzi, Loredana Capuano, Roberta Papini, Gianna Laura Boccaforno, Ettore Ragozzini and Mirella Tromba for alleged fraud.

Insider Talking: October 31, 2001

October 31, 2001
More has become known about the re branding of the First Nevisian Group, which is now known as The FN Group, and the partial move from Nevis to the Dominican Republic, where its "strategic partner" is H. E. Partners, which

George Jones steps down as Stirling Cooke’s CFO

October 31, 2001
Stirling Cooke Brown Holdings Ltd. has announced that George W. Jones "at his own request and for personal reasons, has relinquished his duties as Chief Financial Officer for an indefinite period of time"."Mr. Jones will take on new responsibilities relating to resolution of reinsurance disputes and other special projects," stated an announcement on October 22.