Cook Islands

Offshore Finance Demystified at OffshoreAlert Bangkok

January 22, 2024

Our expert panel will delve into the complex world of offshore finance, providing insights into the latest trends and developments in this often-misunderstood industry. Learn about the use of offshore structures in locations such as the British Virgin Islands, Bermuda, and the Cayman Islands by Asian High Net Worth Individuals and large corporations. We'll also cover the activities in regional Offshore Financial Centers including the Cook Islands, Labuan, Marshall Islands, Nauru, Niue, and Vanuatu.

Agenda Launch – OffshoreAlert London Conference

July 27, 2023

The first version of the agenda for OffshoreAlert's 10th Annual London Conference on December 4-5 is now available. For more information about OffshoreAlert London 2023, sponsorship opportunities, and tickets, please visit www.oalondon.com.

OffshoreAlert announces Asia-Pacific conference in Bangkok

May 15, 2023

OffshoreAlert is pleased to announce our first-ever Asia-Pacific conference, to be held in Bangkok on February 28-29, 2024. We're excited to be bringing our unique combination of expertise, experience, originality, contacts, and fearlessness to the region.

Income Collecting 1-3 Months T-Bills Mutual Fund v. Global EMEA Holdings LLC: Petition (‘$18M Fraudulent Transfer’)

January 27, 2023

Petition by Keiran Hutchison and Igal Wizman, as Joint Official Liquidators of Income Collecting 1-3 Months T-Bills Mutual Fund v. Global EMEA Holdings LLC (in Official Liquidation) v. Global EMEA Holdings LLC, of Las Vegas, Nevada, USA, at the Grand Court of the Cayman Islands.

USA v. Kevin Wessell: Petition to Enforce IRS Summons (‘Wessell Group Investigation’)

May 24, 2022

Petition to Enforce IRS Summons in USA v. Kevin W. Wessell, whose "Wessell Group" is suspected of "providing offshore services to U.S. persons to hide their beneficial ownership of assets", at the U.S. District Court for the Southern District of Florida.

SEC v. Ofer Abarbanel et al: Amended Complaint

January 27, 2022

Amended Complaint alleging fraud in U. S. Securities and Exchange Commission in Ofer Abarbanel, described as a citizen of Israel residing in California who "controls bank accounts in at least Israel, Singapore, and the Cook Islands - and likely the Cayman Islands and the Bahamas"; Victor Chilelli, described as a citizen of the USA residing in Delaware; Income Collecting 1-3 Months T-Bills Mutual Fund, of the Cayman Islands, and New York Alaska ETF Management LLC, of Nevada, as Defendants, and Institutional Syndication LLC, North American Liquidity Resources LLC, Institutional Secured Credit LLC, Growth Income Holdings LLC, CLO Market Neutral LLC, and Global EMEA Holdings LLC, as Relief Defendants, at the U. S. District Court for the southern District of New York.

Cook Islands v. Dwane Hubbart: Petition to Recognize Foreign Arbitral Award

April 12, 2021

Petition to Enforce Foreign Arbitral Award for $1.2 million in The Government of the Cook Islands v. Dwane L. Hubbart, described as a resident of Sunny Isles Beach, Florida, who "operated a short-lived medical and nursing school, denominated 'St. Mary's School of Medicine', in the Cook Islands approximately twenty years ago", at the U. S. District Court for the Southern District of Florida.

Dismatrix SPC et al v. Equiti US LLC et al: Discovery Application (England)

March 9, 2021

Application by Dismatrix SPC, Asyndeton, and Polysyndeton, all of the Cayman Islands, to take discovery from Equiti US LLC, of North Palm Beach, Florida; Gary Dennison, of Jupiter, Florida; James Mason, of Jupiter, Florida, and Kimberly M. Kirkland, of West Palm Beach, Florida, for use in legal proceedings against Equiti Capital UK Limited in England and Wales regarding "a fraudulent Forex trading scheme operated by Mediatrix Capital Inc., Blue Isle Markets Inc., and Blue Isle Markets Ltd.", filed at the U. S. District Court for the Southern District of Florida.

Pacer Construction Holdings Corp. v. Olga Pelletier et al: Writ of Summons

June 18, 2020

Writ of Summons to void transfers in Pacer Construction Holdings Corporation v. Olga Pelletier, Paul Daniel Pelletier, both with addresses in Canada, Cayman Islands, England, Switzerland, and USA; PDP Corporation, of the Cayman Islands; PDP Holdings Inc., of the Cayman Islands; 1829773 Alberta Ltd., of Canada; Butterfield Bank (Cayman) Limited, of the Cayman Islands, as Original Trustee for the Pelletier Star Trust; Forbes Hare Trust Company Limited, of the Cayman Islands, as Successor Trustee for the Pelletier Star Trust; Richard Paul Joseph Pelletier and Olga Pelletier, as Original Trustees for the Pelletier Family Trust; Jeff Scarlett and Blair Pennock, as Successor Trustees for the Pelletier Family Trust; Eclipse Trustees Limited, as Successor Trustee for the Pelletier Family Trust; Ronald Girvitz and Olga Pelletier, as Original Trustees for the Olga Pelletier Family Trust; Jeff Scarlett and Blair Pennock, both of Canada, as Successor Trustees for the Olga Pelletier Family Trust; Eclipse Trustees Limited, of the Cook Islands, as Successor Trustee for the Olga Pelletier Family Trust; Anne Pelletier, Rachelle Pelletier, Dominique Pelletier, Denise Pelletier, and Paul Pelletier, all of Canada, at the Grand Court of the Cayman Islands.

Suspected fraudster Mark Nordlicht accused of ‘hiding assets’ in Cook Islands trust

February 6, 2020

In a lawsuit by two investors, suspected Platinum Partners fraudster Mark Nordlicht has been accused of "hiding" tens of millions of dollars in a Cook Islands trust and other offshore structures to make himself "judgment proof" against claims from creditors.

Richard Stadtmauer et al v. Mark Nordlicht et al: Complaint

February 5, 2020

Complaint & Motion for Attachment to "collect on a debt owed by Mark Nordlicht" who has "engaged in a complex, far-reaching scheme to alienate assets and property to make himself 'judgment proof'" in Richard Stadtmauer and Marisa Stadtmauer v. Mark Nordlicht, Dahlia Kalter, 535 W.E.A. Group LLC, OBH 2308 LLC, NYFLA Investors LLC, Gilad Kalter Cook Islands Trust Limited, of the Cook Islands; Trenor Investment Partners LP, and Henley Investment Partners LP at the Supreme Court of the State of New York, County of Westchester.

SEC accuses offshore firms of $125M investment fraud

September 19, 2019

The U. S. Securities and Exchange Commission has accused companies in the Bahamas, Cayman Islands, Cook Islands, New Zealand, Puerto Rico, Saint Vincent and the Grenadines, and the United States of participating in a $125 million investment fraud involving a group known as Mediatrix Capital.

SEC v. Mediatrix Capital Inc. et al: Complaint

September 12, 2019

Complaint alleging fraud in U. S. Securities and Exchange Commission v. Mediatrix Capital Inc., initially of Belize and then the Bahamas; Blue Isle Markets Inc., domiciled in Saint Vincent and the Grenadines, based in the Bahamas; Blue Isle Markets Ltd., of New Zealand; Michael Stephen Young, of Denver, Colorado; Michael Shawn Stewart, of Scottsdale, Arizona, and Bryant Edwin Sewall, of Dallas, Texas, and the Bahamas, as Defendants, and Mediatrix Capital Fund Ltd., of the Bahamas; Island Technologies LLC, of Puerto Rico; Victoria M. Stewart, Maria C. Young, Hanna Ohonkova Sewall, of Kiev, Ukraine; Michael C. Baker, of Denver, Colorado; Walter C. Young III, of Seattle, Washington; Arual LP, of Utah; West Beach LLC, of Puerto Rico; Salve Regina Trust, of the Cook Islands; TF Alliance LLC, of Colorado; Casa Conejo LLC, of Puerto Rico; Hase Haus LLC, of Colorado; DCC Islands Foundation, of the Bahamas; Keystone Business Trust, of Massachusetts; Weinzel LLC, of Nevada; The 1989 Foundation, of the Bahamas; Mediatrix Capital PR LLC, of Puerto Rico; Mediatrix Capital LLC, of Colorado, and Blue Isle Markets Inc., of the Cayman Islands, as Relief Defendants, at the U. S. District Court for the District of Colorado.

SEC v. Mediatrix Capital Inc. et al: Freezing Motion

September 12, 2019

Emergency Motion for an Ex Parte Asset Freeze and Temporary Restraining Order in U. S. Securities and Exchange Commission v. Mediatrix Capital Inc., initially of Belize and then the Bahamas; Blue Isle Markets Inc., domiciled in Saint Vincent and the Grenadines, based in the Bahamas; Blue Isle Markets Ltd., of New Zealand; Michael Stephen Young, of Denver, Colorado; Michael Shawn Stewart, of Scottsdale, Arizona, and Bryant Edwin Sewall, of Dallas, Texas, and the Bahamas, as Defendants, and Mediatrix Capital Fund Ltd., of the Bahamas; Island Technologies LLC, of Puerto Rico; Victoria M. Stewart, Maria C. Young, Hanna Ohonkova Sewall, of Kiev, Ukraine; Michael C. Baker, of Denver, Colorado; Walter C. Young III, of Seattle, Washington; Arual LP, of Utah; West Beach LLC, of Puerto Rico; Salve Regina Trust, of the Cook Islands; TF Alliance LLC, of Colorado; Casa Conejo LLC, of Puerto Rico; Hase Haus LLC, of Colorado; DCC Islands Foundation, of the Bahamas; Keystone Business Trust, of Massachusetts; Weinzel LLC, of Nevada; The 1989 Foundation, of the Bahamas; Mediatrix Capital PR LLC, of Puerto Rico; Mediatrix Capital LLC, of Colorado, and Blue Isle Markets Inc., of the Cayman Islands, as Relief Defendants, at the U. S. District Court for the District of Colorado.

USA v. Nevis Services Ltd.: Petition to Serve ‘John Doe’ Summons (‘Wessell Group Investigation’)

October 12, 2018

Ex Parte Petition by the USA for Leave to Serve 'John Doe' Summons on Nevis Services Limited, of New York, as part of an IRS investigation into suspected offshore tax evasion, filed at the U.S. District Court for the Central District of California.

USA v. Laura Smith: Petition to Serve ‘John Doe’ Summons (‘Wessell Group Investigation’)

September 20, 2018

Ex Parte Petition by the USA for Leave to Serve 'John Doe' Summons on Laura Smith "for records related to a network of companies known as the Wessell Group" as part of an IRS investigation into suspected offshore tax evasion, filed at the U.S. District Court for the Central District of California.

Statute of Limitations – Beware the Snake in the Grass

May 4, 2015

This session will examine statute of limitation issues from the perspective of a litigant seeking to attack the transfer of funds to a trust set up in 'trust-friendly' jurisdictions, in particular the Cook Islands, The Bahamas, Cyprus and Nevis.

Caledonian Bank liquidators paint bleak picture for creditors

April 10, 2015

Cayman Islands-based Caledonian Bank has millions of dollars of related-party transactions that typically "can be difficult to recover full value" and is exposed to "a single large loan" of $93.7 million, representing more than half of all loans receivable. The grim news for creditors came in the first report of liquidators Keiran Hutchison and Claire Loebell.

International Asset Protection: The Cook Islands vs. Other Jurisdictions

May 7, 2013

A look at the pros and cons of the Cook Islands and other jurisdictions in the area of international asset protection. Watch NowView Trailer

Sen. Carl Levin Letter: Closing 10 Offshore Tax Loopholes

October 5, 2012

Letter about closing offshore ten tax loopholes from Senator Carl Levin to Senator Harry Reid, Senator Mitch McConnell, Senator Dick Durbin, Senator Jon Kyl, Senator Kent Conrad, Senator Saxby Chambliss, Senator Mark Warner, Senator Mike Crapo, Senator Tom Coburn, Senator Michael Bennet, Senator Mike Johanns, Senator John McCain, Senator Jeanne Shaheen, Senator Lindsey Graham, Senator Sheldon Whitehouse, Senator Kelly Ayotte, Honorable Timothy Geithner, Secretary of the Treasury; Gene Sperling, Director, National Economic Council, dated October 5, 2012.

The Dry Trust v. Denise Rich et al: Rich’s Motion to Dismiss

March 8, 2012

Denise Rich's Motion to Dismiss in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

The Dry Trust v. Denise Rich et al: Amended Complaint

February 21, 2012

Amended Complaint in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

The Dry Trust v. Denise Rich et al: Complaint

February 17, 2012

Complaint in The Dry Trust, domiciled in the Cook Islands, v. Denise Rich, a.k.a. Denise Eisenberg, and Richard Kilstock at the U. S. District Court for the Southern District of Florida.

Dwane Hubbart v. Government of the Cook Islands et al: Complaint

November 30, 2011

Complaint in Dwane Hubbart v. Government of the Cook Islands and Ministry of Health of the Cook Islands at the U. S. District Court for the District of Columbia.

Argentina: Ricardo Jaime

July 29, 2011

Request from Argentina for Judicial Assistance in a criminal investigation into Ricardo Raul Jaime for alleged unjust enrichment and corruption while serving as National Transportation Secretary.

Insider Talking: March 24, 2011

March 24, 2011

Alleged fraudster Michael Guard rises to the top at dubious Capital Conservator Group; The sordid tale of disbarred Bahamas attorney Jan Ward; Arnold Forbes claims he intends to sue Canadian broadcaster CTV for implicating him in an alleged investment fraud; Stanford University Professor Dr. Thomas Kenney accepts advisory role with dubious offshore investment firm Cedrus Investments; and Cayman Islands-domiciled Alacrity Capital Offshore Fund and related parties are sued in a dispute over administrative fees.

Cayman National Bank account used to launder $40 m, says US Gov’t

September 10, 2007

An account at Cayman National Bank was used by an Italian family to help defraud a state supported Italian bank out of approximately US$576 million in a scheme that also involved bribing a judge to fix litigation, it has been

Court dismisses offshore insurance fraud indictment

November 4, 2005

A United States federal judge has dismissed a criminal indictment against all eight defendants who were accused of using several offshore reinsurers to commit a $45 million fraud.All 54 counts of conspiracy, fraud and money laundering against Michael Arthur Reeve,

PayPal records targeted by IRS in offshore tax evasion investigation

October 26, 2005

The IRS has asked a U. S. federal court for permission to serve a “John Doe” summons on Internet money transfer firm PayPal Inc. as part of a clampdown on tax evasion using offshore credit and debit cards.“The records requested in the summons will identify the holders of bank accounts at, or payment cards issued by banks in, the listed jurisdictions, information which is not otherwise readily available to the Internal Revenue Service,” stated the IRS in its petition.

Elderly couple sues alleged fraudster, who then sues offshore firms

November 30, 2004

A purported investment "expert" accused of defrauding an elderly couple out of $2.1 million is seeking to hold three offshore firms and others accountable for the claim.Aslam M. Shaw and his business, Investment Club of America, were named as defendants

Another credit card processor subpoenaed by the IRS as part of investigation into offshore tax evasion

September 9, 2004

Total Systems Services Inc. has become the latest third party credit card processor to be ordered to turn over client records to the IRS as part of its offshore tax evasion investigation. An order allowing the IRS to serve a

IRS receives permission to serve subpoena on First Data Corp.

August 12, 2004

The world's largest processor of credit card payments has been ordered by a United States court to assist the IRS in its investigation into tax evasion using offshore accounts.First Data Corp. must turn over information about transactions by holders of American Express, Visa and MasterCard credit cards that were issued by or on behalf of certain offshore financial institutions.

U.S. to seek extradition of two British nationals in alleged offshore reinsurance scam

March 31, 2004

Several offshore reinsurers have been implicated in an alleged $45 million health insurance scam in the United States. The reinsurers, formed in Aruba, Belgium, the Cook Islands, Cyprus, and Ireland, have allegedly failed to pay claims to small businesses and

US court approves application to serve summonses on VISA International for tax evasion investigation

March 31, 2002

A California court has approved a request by the Internal Revenue Service for leave to file "John Doe" summonses on VISA International as part of an investigation into tax evasion using offshore credit cards. The order, issued on March 28, 2002, allows the IRS to examine the records of VISA credit or debit cards issued "by, through, or on behalf of banks or other financial institutions" in 31 offshore jurisdictions.

Newt Utopia: A look at Offshore Financial Centers in the Pacific islands

December 31, 2001

Niue (Last rock from the Sun); Nauru; Marshall Islands; Solomon Islands; Cook Islands; Vanuatu; Shift In Fortunes; FATF/OECD - How they are Viewed; and The Future.

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.

Offshore Financial Centers capitulate to international pressure

July 31, 2000

The governments of offshore financial centers have moved with unprecedented haste in changing their regulatory and supervisory systems in order to be removed from international 'hit lists'.Rather than attempt to group together and negotiate with foreign agencies from a position of strength, many governments have capitulated to international pressure and rushed through emergency legislation.

OECD backs off publishing an offshore ‘hit list’

April 30, 2000

The much-vaunted publication of a tax haven 'hit list' by the Organisation for Economic Co-operation and Development has been put off for at least a year. The OECD had planned to name those territories deemed to engage in "harmful tax practices" in June of this year, after which the 29 OECD member countries would seek to punish those on the list by introducing "defensive measures".