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Anatoly Motylev v. Bank of America et al: Discovery Application (England)

December 27, 2021
Application by Kevin Hellard and Jonathan Thielmann, as Joint Trustees in the English bankruptcy proceedings of Anatoly Leonidovich Motylev, who "is responsible for the collapse of several Russian banks and pension funds that he controlled and has been held liable for these institutions’ debts as a result of the fraud he and his associates perpetrated", to take discovery from Bank of America NA, Citigroup Inc., JPMorgan Chase Bank N.A., HSBC Bank, Bank of New York Mellon Corporation, Standard Chartered Bank, Deutsche Bank Trust Company Americas, and Commerzbank AG for use in Motylev's "English bankruptcy proceedings", filed at the U. S. District Court for the Southern District of New York. The alleged fraud and money laundering scheme involves entities and accounts in several jurisdictions, including Austria, Belize, British Virgin Islands, Cayman Islands, Cyprus, England, Germany, Latvia, Liechtenstein, Luxembourg, Marshall Islands, Panama, Russia, Scotland, Seychelles, Switzerland, Turkey, United Arab Emirates, and USA, it was stated in the application.

Insignia Cards Ltd.: €142K Fine

December 24, 2021
Public Notice by the Malta Financial Services Authority that it has imposed a fine of €142,000 and other penalties on Insignia Cards Limited for regulatory breaches.

AFX Capital Markets Ltd. et al: License Revocation, Industry Bans & €350K Fines

December 23, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the investment license of AFX Capital Markets Ltd. and imposed collective fines totaling €350,000 on two of its directors, Manuela Mazzacco and Andreas Lianos, who also received industry bans, and two of auditors, BDO Ltd. and Anthimos, Leonidou and Partners Ltd., for regulatory breaches.

Jitka Chvatik v. Nayoro International Ltd. et al: Restoration Application

December 20, 2021
Originating Application in Dr. Jitka Chvatik, who, OffshoreAlert understands, is the mother of Czech-born, Bahamas-based fugitive accused fraudster Viktor Kožený v. Nayoro International Ltd. and The Registrar of Corporate Affairs at the British Virgin Islands High Court.

Nordic Aviation Capital Designated Activity Company: Chapter 11 Petition

December 19, 2021
Chapter 11 Petition by Nordic Aviation Capital Designated Activity Company, of Ireland, part of a group that is "the world’s largest regional aircraft lessor and the sixth largest commercial aircraft lessor, offering leasing and lease management solutions to airlines and aircraft investors worldwide" and comprises companies in the British Virgin Islands, Cayman Islands, Cyprus, Denmark, England, France, Germany, Guernsey, Ireland, Luxembourg, Malta, Singapore, South Africa, Sweden, and United States, at the U. S. Bankruptcy Court for the Eastern District of Virginia.

KMG Capital Markets Ltd.: ‘MC UCITS’ License Revocation

December 14, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has revoked "the operation licence of Management Company of Open-ended Undertakings for Collective Investment in Transferable Securities of KMG Capital Markets Ltd.".

Gramercy Distressed Opportunity Fund II LP et al v. Oleg Bakhmatyuk et al: Complaint

December 7, 2021
Complaint alleging "Since at least 2016, Ukrainian oligarch Oleg Bakhmatyuk has perpetrated a complex, multi-faceted scheme in order to maintain control over his agricultural business, UkrLandFarming PLC and its subsidiary Avangardco IPL, so that he could exploit the Company's assets as his own personal war chest and frustrate Gramercy's right to recover on its Notes" in Gramercy Distressed Opportunity Fund II LP, Gramercy Distressed Opportunity Fund III LP, Gramercy Distressed Opportunity Fund III-A LP, Gramercy EM Credit Total Return Fund, all of the Cayman Islands; Gramercy Funds Management LLC, and Roehampton Partners LLC, of Delaware v. Oleg Bakhmatyuk, described as "a dual citizen of Ukraine and Cyprus"; Nicholas Piazza, described as "a United States citizen who resides in Cody, Wyoming, and also has a home in Ukraine"; SP Capital Management LLC, of Wyoming; Oleksandr Yaremenko, described as "a Ukrainian citizen and resident of Kiev", and TNA Corporate Solutions LLC, of Wyoming, at the U. S. District Court for the District of Wyoming.

Demetrios Chomatas et al: €9K Settlement

November 23, 2021
Public Notice by the Cyprus Securities and Exchange Commission that Demetrios Chomatas and unidentified "members of his family, as well as the legal person which he owned at the particular period" have agreed to pay a total of €9,000 to settle a regulatory investigation.

BTA Bank v. Bank of America et al: Discovery Application (‘$7.5B Fraud’)

November 16, 2021
Application by JSC BTA Bank, of Kazakhstan, to take discovery from The Clearing House Payments Company LLC and "thirteen intermediary banks", namely Bank of America NA, Bank of China, The Bank of New York, BNP Paribas USA, Citibank NA, Commerzbank AG, Deutsche Bank Trust Company, HSBC Bank USA NA, JPMorgan Chase Bank NA, Société Générale AG, Standard Chartered Bank, UBS AG, and Wells Fargo Bank NA regarding Saint Vincent and the Grenadines-domiciled Panolos Limited for use in legal proceedings in England "against BTA Bank's former chairman, and primary shareholder, Mukhtar Ablyazov, upon BTA Bank's discovery that Ablyazov had illegally misappropriated as much as $7.5 Billion of BTA Bank’s assets and subsequently laundered the proceeds through multiple financial institutions all over the world", filed at the U. S. District Court for the Southern District of New York.

Depaho Ltd.: License Suspension Recall

November 3, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has recalled the suspension of the investment license of Depaho Ltd.

RAM Cyprus Income Fund Ltd.: License Revocation

November 3, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the license of RAM Cyprus Income Fund Ltd., whose directors appear to be based in Australia, China, and Cyprus.

State Corporation Deposit Insurance Agency v. Standard Chartered Bank: Discovery Application

November 1, 2021
Application by the State Corporation Deposit Insurance Agency, of Russia, on behalf of International Bank of St. Petersburg, to take discovery from Standard Chartered Bank for use in "anticipated proceedings in Russia ... against Sergei Bazhanov (the former Chairman of the Management Board and majority shareholder of IBSP), Alexander Zuev (a former member of IBSP’s Board of Directors and Bazhanov's brother-in-law), and Hervet Investments Limited, a minority shareholder of IBSP" regarding "a series of fraudulent transactions", filed at the U. S. District Court for the Southern District of New York.

USA v. Nicholas Gillie et al: Ninth Superseding Indictment (‘Investment Fraud & Money Laundering’)

October 26, 2021
Ninth Superseding Indictment alleging "a sophisticated international mass-marketing investment fraud scheme to defraud English-speaking investors from around the world of millions of dollars" in USA v. Nicholas Russell James Gillie, a citizen of the United Kingdom; Neophytos Georgiou, a citizen of Cyprus and the United Kingdom; Urs Meisterhans, a citizen of Switzerland; Scott Steven Neilson, a citizen of the United Kingdom; Liam James Smout, a citizen of the United Kingdom; Daniel Nielsen, a citizen of the United Kingdom; Brenda Laverty, a citizen of Ireland; Andrew Georgiou, a citizen of Cyprus and the United Kingdom; Thomas Andrew Kenny, a citizen of the United Kingdom, and Jake Mardell, a citizen of the United Kingdom, at the U.S. District Court for the Southern District of New York.

IT Invest Financial Solutions (Cyprus) Ltd. v. EVC Fintech I LLC et al: Notice of Removal

October 25, 2021
Notice of Removal by defendants regarding a dispute involving "a block of shares of eToro, an Israeli social trading and multi-asset brokerage company that is not yet publicly traded", in IT Invest Financial Solutions (Cyprus) Limited, of Cyprus v. EVC Fintech I LLC and EVC Fintech Management LLC, both of Delaware, at the U. S. District Court for the Northern District of California.

Maxigrid Ltd.: License Suspension

October 15, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has suspended the license of investment firm Maxigrid Ltd. for regulatory breaches.

Maxiflex Ltd.: License Suspension

October 15, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has suspended the license of investment firm Maxiflex Ltd. for regulatory breaches.

BTA Bank v. Timur Sabyrbaev et al: Claim Form (‘$231M Fraud’)

September 24, 2021
Claim Form alleging conspiracy to commit fraud, dishonest assistance, breaches of fiduciary duty, and unjust enrichment against defendants in the British Virgin Islands, Cyprus, Germany, Guernsey, Kazakhstan, Latvia, Panama, Russia, Seychelles, Singapore, Switzerland, and USA 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.

D&V Pegasus Real Estate AIF VCIC Plc: License Revocation

September 10, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has revoked the license of D&V Pegasus Real Estate AIF VCIC Plc. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that the directors of D&V Pegasus Real Estate AIF VCIC Plc were identified as Gunther Glatzel, Gunter Jurgen Vorbauer, and Andreas Dimitriou, while the company's website at pegasusfm.com identified its "Board of Directors" as "Gunter J Vorbauer - Chairman; Andreas Demetriou - Vice Chairman; Christos Vakis - Member; Dr. Gunther Glatzel - Member", "External Manager" as MFO Asset Management Ltd., "Depositary" as Eurobank Cyprus Ltd., "External Auditors" as KPMG Ltd., "Legal Advisor" as Clerides Anastassiou Neophytou LLC, and "Investment Advisors" as Planet Properties (London) Ltd. and PPM Valuations LLC.

Belight Capital Group Ltd.: License Revocation

September 10, 2021
Public Announcement by the Cyprus Securities and Exchange Commission that it has revoked the license of Belight Capital Group Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that the sole director of Belight Capital Group Ltd. was identified as Robert Ryan Porter.

Techview Investments Ltd. et al v. Amstar Poland Property Fund I LP et al: Judgment

August 31, 2021
Judgment on motions to dismiss allegations of fraud and negligence in Techview Investments Limited, which was incorporated in the Bahamas and later moved to the British Virgin Islands, and Prime Overseas Investments and Enterprises Limited, of Cyprus v. Amstar Poland Property Fund I LP, Amstar Poland Property Fund I GP LP, Amstar Poland Fund I GP LP, all of the Cayman Islands; Amstar Global Partners Limited, of Bermuda, and Amstar Group LLC, a Delaware-domiciled, Colorado-based company, at the Superior Court of the State of Delaware, County of New Castle County.

London Capital Group (Cyprus) Ltd.: €40K Fine

August 13, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has imposed a fine of €40,000 on London Capital Group (Cyprus) Limited for a regulatory breach. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that London Capital Group (Cyprus) Limited was incorporated in Cyprus on June 6th, 2016 and its sole director is Charles Henri Sabet.

Brian Kang et al v. Hybrid Trade Ltd. et al: Complaint

August 13, 2021
Complaint alleging theft, misappropriation, and securities fraud regarding the raising of $50 million "from investors based around the world, including within the United States" from the sale of "digital tokens" that were "neither registered with the United States Securities and Exchange Commission nor qualified for any exemption from registration with the SEC, thereby depriving investors of the benefit of the disclosures required by the federal securities laws" in Brian Kang, Skyblock LLC, Mid-Wilshire Consulting LLC, Prasad Hurra, David Kim, Blue Rock Group, Artemio Verduzo, David Kwon, and Young Jae Kwon v. Hybrid Trade Limited, described as operating from addresses in Hong Kong, Malta, and Singapore; Asia Digital Asset Exchange, described as operating from an address in Cyprus; Allysian Sciences, Apolo Ohno, a former Olympic speed skating champion; Rod Jao, Eugenio Pugliese, and Henry Liu at the U. S. District Court for the Central District of California.

Tintra AIF VCIC Ltd.: License Revocation

August 6, 2021
Public Notice by the Cyprus Securities and Exchange Commission announcing that it has withdrawn the authorization of five "Investments Compartments" of Tintra AIF Variable Capital Investment Company Ltd., an Alternative Investment Fund, because "the minimum assets were not raised within the extended timeframe". Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Tintra AIF Variable Capital Investment Company Ltd. was incorporated in Cyprus on July 4th, 2016 and its sole director is Richard Shearer, of the United Kingdom.

Indication Investments Ltd.: License Suspension

August 3, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has suspended the license of Indication Investments Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Indication Investments Ltd. was incorporated in Cyprus on July 26th, 2011 and its directors are Thomas Xydas, Viacheslav Aleksandrovich Taran, Andrei Nikolaev, Alexey Trifonov, and Giorgos Stylianou.

USA v. Anthony Stimler: Criminal Information

July 26, 2021
Criminal Information alleging conspiracy to violate the Foreign Corrupt Practices Act and money laundering regarding an alleged bribery scheme involving individuals and entities in or from the British Virgin Islands, Cyprus, Israel, Mexico, Nigeria, Spain, Switzerland, United Kingdom, and USA in USA v. Anthony Stimler, a citizen of the United Kingdom who worked as a trader, at the U. S. District Court for the Southern District of New York.

Alkis Aloneftis: €1K Fine

July 20, 2021
Public Notice by the Cyprus Securities and Exchange Commission that it has imposed a fine of €1,000 on Alkis Aloneftis for a regulatory breach.

Dorset Ltd. v. Trax Ltd.: Stop Notice

July 15, 2021
Stop Notice by Dorset Limited, of the Marshall Islands, regarding shares in Trax Ltd., of the Cayman Islands, registered to Panagiotis Triantafyllidis, filed at the Grand Court of the Cayman Islands.

Parallel Nominees Cyprus Ltd.: €70K Settlement

July 13, 2021
Public Notice by the Cyprus Securities and Exchange Commission that Parallel Nominees Cyprus Limited has paid €70,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Parallel Nominees Cyprus Limited was incorporated in Cyprus on February 19th, 2013 and its directors are Anastasia Evripidou and Katina Papanikolaou.

Depaho Ltd.: License Suspension

July 9, 2021
Public Notice by the Cyprus Securities and Exchange Commission announcing that it has suspended the license of Depaho Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Depaho Ltd. was incorporated in Cyprus on August 11th, 2011 and its directors are Hananel Levi, Charalampos Hatziokonomou, Aida Rizk, Petros Nakouzi, Neda Herodotou, and Marios Economou. On the company's website at www.depaho.eu, it is stated that Depaho Ltd. "operates under the brand names GTCM, FXGM and TradeApp" and, apart from Cyprus, "is also authorized by the South Africa Financial Sector Conduct Authority".

Rebels Gaming Ltd.: €500K Fine

July 8, 2021
Public Notice by Malta's Financial Intelligence Analysis Unit that it has imposed a fine of €500,017 on Rebels Gaming Limited, described as a "remote gaming operator", for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Rebels Gaming Limited was incorporated in Malta on January 26th, 2011, its directors are Yiorgos Metaxas and Grigorios Skornos, both citizens of Greece residing in Malta, and its shareholders are Grigorios Skornos and 15 Steps Limited, a Cyprus company whose sole director is Grigorios Skornos, according to the Cyprus Registrar of Companies.

Christos Stylianides: €430K Fine Upheld By Court

July 6, 2021
Public Announcement by the Cyprus Securities and Exchange Commission that the Administrative Court upheld a decision by CySEC to impose a fine of €430,000 on Christos Stylianides for regulatory breaches involving "the Cyprus Popular Bank Public Co. Ltd.'s investment in Greek Government Bonds".

Vasilios Theocharakis: €35K Fine Upheld By Court

July 6, 2021
Public Announcement by the Cyprus Securities and Exchange Commission that the Administrative Court upheld a decision by CySEC to impose a fine of €35,000 on Vasilios Theocharakis for a regulatory breach involving "the Cyprus Popular Bank Public Co. Ltd.'s investment in Greek Government Bonds".

Atlas Capital Financial Services Ltd.: €160K Fine

June 11, 2021
Public Notice by the Cyprus Securities Exchange Commission that it has imposed a fine of €160,000 on Atlas Capital Financial Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that Atlas Capital Financial Services Ltd. was incorporated in Cyprus on December 6th, 2007, is in the process of being struck off, to which an objection has been made and that its directors are Aleksandar Krtinic, of Serbia; Ljiljana Dragicevic, of Montenegro; Petar Gazivoda, of Cyprus; Dusko Knezevic, a citizen of Montenegro, and Zinon Ypsaridis.

Petar Gazivoda et al: Disqualifications

June 11, 2021
Public Notice by the Cyprus Securities Exchange Commission that it has temporarily disqualified Petar Gazivoda, of Cyprus; Dusko Knezevic, of Montenegro; Aleksandar Krtinic, of Serbia, and Ljiljana Dragicevic, of Montenegro, "from exercising professional activity related to the financial sector" for conduct regarding Cyprus-based investment firm Atlas Capital Financial Services Ltd.

Prior Capital Cy Ltd.: €100K Settlement

May 17, 2021
Public Notice by the Cyprus Securities and Exchange Commission that "executive Board Members" Konstantin Yasnov, Vladimir Zalogin, and Ekaterina Zalogina have paid €100,000 to settle a regulatory investigation into Prior Capital Cy Ltd.

RSS Judgment Enforcement LLC v. Symbion Power Tanzania Ltd. et al: Complaint

May 13, 2021
Complaint to enforce "a foreign arbitral award ... in the amount of nearly $30 million" alleging fraud against "a New York based group of companies that are operated under the "Symbion Power" name who develop, build and operate power generation, transmission and distribution projects in the Middle East, Asia and Africa" in RSS Judgment Enforcement LLC, as the assignee of Rental Solutions and Services LLC v. Symbion Power Tanzania Ltd., of Tanzania; Symbion Power Holdings, LLC, of Delaware; Symbion Energy Holdings Limited, of Cyprus; Symbion Power, LLC, of Delaware; Symbion Power Africa, LLC, of Delaware; Symbion Power Services U.S., Inc., of Delaware; Paul Hinks, of New York; Richard Westbury, a.k.a. Richard Bethell, described as "a citizen of the United Kingdom", and R.W. Chelsea Holdings Ltd., of Cyprus, at the U. S. District Court for the Southern District of New York.

Olin Holdings Ltd. v. State of Libya: Notice of Removal

May 10, 2021
Notice of Removal, including a copy of the the petition to confirm an arbitration award, by the State of Libya in Olin Holdings Limited, of Cyprus v. State of Libya at the U. S. District Court for the Southern District of New York.

Helios Ventures FZE v. VistaJet US Inc. et al: Discovery Application

May 5, 2021
Application by Helios Ventures FZE, of Ajman, in the United Arab Emirates, to take discovery from VistaJet US Inc., Rhône Capital LLC, and Rhône Group LLC for use in "contemplated civil proceedings in the United Kingdom and Malta", filed at the U. S. District Court for the Southern District of New York.

TeleTrade-DJ International Consulting Ltd.: €120K Settlement

April 29, 2021
Public Notice by the Cyprus Securities and Exchange Commission that TeleTrade-DJ International Consulting Ltd., whose website states that it operates as an investment firm and forex broker, has paid €120.000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that TeleTrade-DJ International Consulting Ltd. was incorporated in Cyprus on September 1st, 2010 and its directors are Nikolas Leventis, Inna Leonova, Giannakis Georgiou, and Giorgos Konstantinidis.