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Latin America Round-Up: June 14, 2009

June 14, 2009
COLOMBIA Espionage scandal A scandal brought about by Colombian President Álvaro Uribe having illegal meetings with judges, politicians, journalists and former public officials has cast a shadow over his government, inside and outside of the country. Colombians are now demanding

Insider Talking: March 11, 2009

March 11, 2009
PricewaterhouseCoopers LLP and PricewaterhouseCoopers (Bermuda) have paid the State of New Jersey $5.85 million to resolve allegations of fraud and accounting improprieties at Tyco International Ltd., according to a press release issued by New Jersey's Attorney General, Anne Milgram, on

Peru: Enrique Jose Benavides Morales et al

February 13, 2009
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Peru into Enrique Jose Benavides Morales, Moshe Rothschild Chassin, and Claus Corpancho Kleinicke for alleged bribery, embezzlement and other illegal transactions.

Latin America Round-Up: December 8, 2008

December 8, 2008
COLOMBIA Convictions for FARC supporters Monzer Al Kassar, alias El Taous, and his associate, Luis Felipe Moreno Godoy, were convicted following a three week trial in a Manhattan federal court. The defendants were found guilty of conspiracy to murder US

Insider Talking: November 10, 2008

November 10, 2008
Insureds of British Virgin Islands based Boston Life and Annuity Company Ltd. (in liquidation) have won an important legal victory in their attempt to recover $11 million they claim was defrauded from them in a scheme allegedly masterminded by US

$3.9 m judgment entered against Prosperitas Internationale Credit Union

October 7, 2008
A default judgment for $3.9 million has been entered in the United States against a now-defunct 'credit union' domiciled in Panama and purportedly operated from Nevis that received proceeds from a securities fraud.The judgment was entered against relief defendant Prosperitas Internationale Credit Union at the U. S. District Court for the Western District of Washington on July 24, 2008 in a civil action prosecuted by the U. S. Commodity Futures Trading Commission. Prosperitas Internationale was served on October 12, 2007 through one of its officers, Bruce Hawkins, a resident of Gig Harbor, Washington, but never entered an appearance in the case, according to the CFTC.

Racing driver Helio Castroneves used Panama firm to evade US taxes, says IRS

October 7, 2008
 Professional auto racing driver Helio Castroneves used a Panama shell company to evade United States taxes for the six tax years from 1999 to 2004, it has been alleged.Castroneves, a.k.a. Helio Alves de Castro Neves, 33, Brazilian national residing in Miami, Florida, was indicted at the U. S. District Court for the Southern District of Florida on October 2, 2008, along with his sister and "business manager", Katiucia Castroneves, a.k.a. Katiucia Alves de Castro Neves, 35, a Brazilian national also residing in the USA, and his "attorney, de facto agent, and occasional business and tax advisor", Alan R. Miller, 71, who is admitted to practice law in Wisconsin and Michigan, according to the complaint.

Insider Talking: September 8, 2008

September 8, 2008
Miami-based businessman Charles Intriago, who sold his anti-money laundering-focused company Alert Global Media, Inc. to New York-based supplier of AML technology Fortent in December, 2006 and continued to manage it before abruptly departing in late March, 2008, is preparing to launch a new business venture that will concentrate on asset forfeiture; Canadian national Wayne Wile, who has been accused of committing securities fraud along with the Cayman, Bahamas and Bermuda operations of investment group Lines Overseas Management, obtained a Cayman Islands Driver's License in a false name, according to the U. S. Securities and Exchange Commission; OffshoreAlert has obtained more information about companies and individuals involved with the Grand Island Commodity Trading Fund group of companies, which went into liquidation on June 17, 2008 - one month before its trading manager, R. Christopher Girvan, was arrested in Cayman on suspicion of theft, false accounting and fraud; Investment fraudster Keem Kalfon is at it again. His latest venture operates as 'The People's Money Center' from a web-site at www.peoplemc.com, which was established in June, 2007; and Despite all that has happened over the last 10 years in terms of legal gateways being implemented to allow foreign parties to obtain information about individuals and businesses operating in offshore financial centers, there is still a misconception among some residents of major countries that the secrecy and anonymity of their offshore transactions is enshrined in law.

Costa Rica requests account information from US banks for corruption investigation into former president

July 2, 2008
Article based on an application to collect evidence for a criminal investigation into alleged corruption by former President Miguel Angel Rodriguez Echeverria and others - pursuant to requests for judicial assistance from Costa Rica - that was filed at federal court in the USA on June 19, 2008. Individuals and businesses mentioned in the request for assistance include Miguel Angel Rodriguez Echeverria, Jose Antonio Lobo Solera, Edgar Valverde Acosta, Rodrigo Alberto Mendez Soto, Joaquin Alberto Fernandez Alfaro, Luis Adrin Quiroscarmona, Guido Sibaja Fonseca, Eduardo Fonseca Garcia, Leonel Barrios Arce, Hernan Bravo Trejos, Alfonso Guardia Mora, Eliseo Vargas Garcia, Christian Sapcizian, Tauro Comer SA, NCR Holding, Teleinvest, Holding de Valores y Capitales SA, Banco Internacional de Costa Rica, Banco Nacional de Costa Rica, Wachovia Bank, Citibank NA, First Union Bank International, Banco Cuscatlan, Cuscatlan International Bank, ABN AMRO Bank, Macro Investment Ltd., Servicios Notariales Q.C., Bank Atlantic, Ocean Bank, Banco Aleman Platina SA, International Bank of China, George Huang, Rafael Sequeira Garza, Donald Murrilo Pizarro, Grupo Ganadero, Inversiones Denisse SA, The Friendship Company Ltd., Costa Rica Electricity Institute, Instituto Costarricense de Electricidad, Alcatel, Alcatel de Costa Rica, and Pieles Costarricense.

Antigua & Barbuda: Lester Bird et al – Supplemental Request (2008)

June 19, 2008
Motion for Modification of Court Order and to Supplement Commissioner Appointment regarding a request from Antigua & Barbuda for judicial assistance for a criminal investigation into Lester Bird, Asot Michael, Josette Michael, Bruce Rappaport, Sir Ronald Sanders and others for suspected involvement in fraud, corruption, and money laundering.

Costa Rica: Miguel Angel Rodriguez Echeverria et al

June 19, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Costa Rica into the country's former President, Miguel Angel Rodriguez Echeverria, former head of state electrical company, Jose Antonio Lobo Solera, Alfonso Guardia Mora, Guido Sibaja, Edgar Valverde Acosta, Adrian Quiros Carmona, Jose Joaquin Fernandez, Eliseo Vargas Garcia, Rodrigo Mendez Soto, Leonel Barrios and Hernan Bravo Trejos for suspected corruption and illicit enrichment.

Panama requests Transatlantic Bank records for fraud inquiry

June 5, 2008
Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Panama - that was filed at federal court in the USA on May 23, 2008. Individuals and businesses mentioned in the request for assistance include Lew Rodin, Emporium Designs Inc., Euro Show Panama SA, Giuseppe Ali Cheaitelli Saheli, and Transatlantic Bank.

Panama requests Bank of America records for investment fraud investigation

June 5, 2008
Article based on an an application to collect evidence for a criminal investigation into alleged investment fraud - pursuant to a request for judicial assistance from Panama - that was filed at federal court in the USA on May 21, 2008. Individuals and businesses mentioned in the request for assistance include Hector Crisostomo Wiliiams Raphael, Armando da Silva Tavares Busto, Incotesa SA, Financial Investments International LLC, Sacher, Zelman, Van Sant, Paul, Beiley, Hartman, Terzo, Rolnick & Waldman PA, Juan Demostenes Arosemena Borrell, and Bank of America.

Two more convictions in Harris Organization tax evasion investigation

June 5, 2008
The ongoing criminal investigation by the United States Internal Revenue Service into the long-defunct Harris Organization financial services group of Panama and its clients has resulted in two more convictions at the U. S. District Court for the Southern District of Florida.

Ex-UBS private banker to plead guilty to helping US billionaire evade taxes

June 5, 2008
A former UBS private banker is set to admit his involvement in helping a billionaire United States real estate developer evade taxes on income earned on approximately $200 million of assets allegedly concealed in bank accounts in Switzerland and Liechtenstein using shell companies in the British Virgin Islands, Denmark, Gibraltar, Panama, and the United Kingdom.

Latvia: Balcere OU

June 3, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Latvia into Aleksandrs Obuhovs, Normunds Miesnieks, Manhattan Insurance Company LLC, Westerman LLC, Balcere OU and KTR Corporation for alleged tax evasion and money laundering.

Bulgaria: Caledon Invest Inc. et al

June 3, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Bulgaria into Caledon Invest Inc., Chavdar Stoyanov and Ivan Stamenov for suspected involvement in the illegal exportation of cigarettes.

Panama: Lew Rodin et al

May 23, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Giuseppe Cheaitelli for allegedly defrauding Lew Rodin.

Panama: Hector Crisostomo Williams Raphael et al

May 21, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Hector Crisostomo Williams Raphael and Armando Da Silva Tavares Busto for allegedly defrauding Juan Demostenes Arosemena Borrell.

Latin America Round-Up: April 1, 2008

April 1, 2008
Latin America Round-Up: BOLIVIA: Phony Phone Cards Come to Bolivia; CENTRAL AMERICA: Gangs and Corruption; COLOMBIA & VENEZUELA: Colombia Threatens to Denounce Venezuela; THE CARIBBEAN: Crime Wave; PANAMA: Drug Bust; PERU & VENEZUELA: Funds for Covert Meddling?; REGIONAL: 11 out of 20 countries cited for involement in narcotics trafficking.

Guatemala: Organizadora de Comercio, SA

March 11, 2008
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Guatemala into Banco de Comercio SA, Organizadora de Comercio, SA and their executives for alleged fraud and money laundering.

Insider Talking: December 11, 2007

December 11, 2007
Bermuda took another step down the road from well-respected, relatively-clean, model democracy to internationally-ridiculed, corruption-ridden, banana republic when the office of Bermuda's Auditor General, Larry Dennis, was raided by police for the second time in five months on November 17, 2007; Two ex-clients of jailed former Panama-based offshore financial services provider Marc Harris escaped prison-time when they were sentenced for tax evasion-related offenses at the U. S. District Court for the Southern District of Florida on November 30, 2007; AM Costa Rica news service reported on November 9, 2007 that the Seccion de Fraudes of the Judicial Investigating Organization raided the offices of Trade Exchange SA, a.k.a. Tradex, on October 30 as part of an investigation into the activities of an expatriate financial consultant, Mark Emory Boswell, a.k.a. Rex Freeman, and his wife, Evelyn Reed; Three former employees of National Westminster Bank Plc - popularly known as the 'NatWest Three' - entered into plea agreements with the U. S. Government on November 28, 2007 in which they admitted their roles in defrauding their employer of $7.3 million in March, 2000 via transactions involving Enron Corp. and a legal vehicle in the Cayman Islands known as LJM Cayman LP Ironically, earlier in November, just before much of the British press were lauding the NatWest fraudsters, several British newspapers published the results of research by offshore banking provider NatWest International Personal Banking that indicated 1 in 10 British expatriates have been victims of banking fraud; and The manner of the collapse of Colorado's last remaining offshore bank, American Intercapital Depository and Trust, known as AIDT, which regulators recently closed down due to "hopeless" insolvency and their belief that the management was dishonest, casts doubt on the credibility of The Offshore Institute, a professional organization whose President, E. Jerry James, was AIDT's guiding force.

Panama requests evidence from Sacher Zelman Van Sant et al law firm

December 11, 2007
Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Panama - that was filed at federal court in the USA on November 6, 2007. Individuals and businesses mentioned in the request for assistance include Sacher, Zelman, Van Sant, Paul, Beiley, Hartman, Terzo & Waldman PA, Hector C. Williams Raphael, Armando da Silva Tavares, Martin E. Doyle, Inversiones y Construcciones Teribe SA, a.k.a. Incotesa; Financial Investment Services SA, and Alberto Porras Covelly.

Panama: Hector Williams Raphael et al

November 6, 2007
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Hector Williams Raphael and Armando da Silva Tavares for alleged fraud.  

Latin America Round-Up: September 10, 2007

September 10, 2007
ARGENTINA & VENEZUELAThe mystery of the Venezuelan suitcases The scandal over the arrival to Argentina of a Venezuelan businessman carrying $800,000 in undeclared cash on a government hired jet has had its first victims. Claudio Uberti, the head of the

Insider Talking: September 10, 2007

September 10, 2007
A jury in Texas has awarded 41 investors clients damages of $8.8 million, plus annual interest of 8.25% backdated to December 12, 2002, against Atlas Financial Group Ltd. and Atlas Private Trust Ltd., which collapsed in the Turks and Caicos

Panama firm sues Cayman trust company in inheritance battle

September 10, 2007
A Panama corporation is suing a Cayman Islands trust company, two of its employees and others in a family dispute over inherited wealth. Inverpan SA, a Panama corporation that maintains accounts at American Express Bank International, in Brickell Avenue, Miami,

Panama requests Wachovia Bank records for fraud inquiry

September 10, 2007
Article based on an application to collect evidence for a criminal investigation into alleged fraud and forgery - pursuant to a request for judicial assistance from Panama - that was filed at the U. S. District Court for the Eastern District of Pennsylvania on August 29, 2007. Individuals and businesses mentioned in the request for assistance include Elisabeth Salazar, Oscar Ivan Lopez Vergara, Wachovia Bank, Wassen Choudhey, Maria Cristina Luna, and Antonio Frechila.

Panama: Elisabeth Salazar et al

August 29, 2007
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Oscar Ivan Lopez Vergara and Elisabeth Salazar for alleged fraud.

Latin America Round-Up: August 7, 2007

August 7, 2007
ARGENTINA: Minister Resigned as Monday Laundering Suspect:; BRAZIL: The Berezovsky Connection; Lawsuits against Investigative Reporting; CHILE/PERU: Thicker and Thicker; EL SALVADOR: New Initiative to Report Financial Transactions; MEXICO: Former Governor Extradited; Frozen Money to Be Shared; NICARAGUA/PANAMA: Alemán Is Summoned.

Insider Talking: August 7, 2007

August 7, 2007
Former offshore services provider Marc Harris, who was sentenced to serve 17 years in prison on May 17, 2004 after being convicted by a jury of conspiracy to defraud the USA, money laundering and tax evasion, turned down a pre-trial offer from prosecutors that would have seen him receive just three years in prison in return for a guilty plea, according to a recently-filed court paper in Miami; New information about what is shaping up to be the latest big offshore hedge fund scandal recently became publicly available in filings at the U. S. District Court for the Northern District of Illinois, where the U. S. Commodity Futures Trading Commission is trying to close down Lake Shore Asset Management Limited, which is incorporated in Bermuda; and Former offshore specialist Nigel Scott Grant, who once participated in a Nevis-based investment scam while working as an attorney in California, is being sued in Florida for allegedly failing to pay legal fees of $16,125 to a Miami-based law firm, Levey, Airan, Shevin, Roen, Kelso, Corona & Herrera LLP.

France seeks to extradite Manuel Noriega

August 7, 2007
France has applied to extradite 71-year-old former Panama dictator Manuel Antonio Noriega from the United States, where he is due to be released from prison on September 9, 2007 after serving nearly 18 years of a 30-year prison sentence for drug-trafficking, racketeering, and money laundering.

Panama: Sandra Anderson

August 2, 2007
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Panama into Sandra Anderson for alleged fraud regarding the use of her dog 'Eagle' to look for the bones of missing people.