DeltaEdge Capital (Europe) AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that DeltaEdge Capital (Europe) AG “is suspected of conducting unauthorised activities in the financial market”.
USA v. Trident Corporate Services, Inc. et al: Order Granting Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Order Granting Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.
Trafigura Pte Ltd. v. Bank of America NA et al: Discovery Application (England)
Application by Trafigura Pte Ltd., of Singapore, to take discovery from Bank of America, N.A., Bank of China U.S.A., The Bank of New York Mellon Corporation, Barclays Bank PLC, New York Branch; BNP Paribas USA, Inc., Citibank N.A., The Clearing House Payments Company LLC, Commerzbank AG, New York Branch; Deutsche Bank Trust Co. Americas, HSBC Bank USA, N.A., JPMorgan Chase Bank, N.A., Société Générale, New York Branch; Standard Chartered Bank, New York Branch; UBS AG, New York Branch, and Wells Fargo Bank, N.A. for use in legal proceedings in England against Indian businessman Prateek Gupta alleging "a massive fraud costing hundreds of millions of dollars", filed at the U.S. District Court for the Southern District of New York.
Luxembourg’s Polaris Financial Investments touts ‘success’ of Cayman ‘ancestor’ fund SPI (even though it failed amid allegations of fraud and ‘$118M+ missing’)
Insolvent Cayman Islands fund SPI, which collapsed in 2023 amid allegations of fraud and its liquidators claiming over $118 million has "disappeared", is being held out as a success in promotional material for a successor Luxembourg scheme operated by two of its former principals, Swiss asset manager Marc-André Pepin and British fund director Gareth Williams, via their Luxembourg firm Polaris Financial Investments.
Orion Investment Management Ltd.: Directors (British Virgin Islands)
List of Directors for Orion Investment Management Ltd., obtained from the British Virgin Islands Financial Services Commission on January 22nd, 2024.
Jacob Safra et al v. Christie’s Inc. et al: Complaint (‘$50M Betrayal of Trust/Einstein Letters’)
Complaint for damages of "no less than $50 million" alleging "Christie’s betrayal of trust and fiduciary duty" regarding the sale of the "Einstein Letters" in Jacob E. Safra, described as "a Swiss businessman" who is "a renowned collector, who has amassed some of the most valuable and unique pieces of art and artifacts in the world"; Elidor Invest S.A., and Newcorp Investment Inc., each described as a British Virgin Islands company of which "Mr. Safra is the ultimate beneficial owner" v. Christie's Inc., Christie's France SNC, of France, and Christie Manson & Woods Limited, of London, England, at the Supreme Court of the State of New York, USA.
EFG Bank AG v. Vincent Campagna: Discovery Application (England)
Application by EFG Bank AG, described as "part of a global private banking group headquartered in Switzerland", to take discovery from Vincent Paul Campagna, who "previously served as the Chief Operating and Compliance Officer of Wafra Inc.", for use in legal proceedings in England brought against EFG Bank "by the Kuwaiti state pension fund, the Public Institution for Social Security" alleging that "EFG was complicit in the misconduct of PIFSS' former Director General Fahad Maziad Rajaan Al Rajaan", filed at the U.S. District Court for the District of Connecticut.
Jonathan Glassberg v. UBS AG: Judgment (‘Liability for $2.5M Investment Loss’)
Judgment regarding liability for a "fraudulent" investment known as "Direct Lending Income Fund" in Jonathan William Glassberg v. UBS AG, Singapore Branch at the High Court of the Republic of Singapore.
Richard Ambery v. Managing Partners Malta Ltd.: Affidavit in Support of Winding Up Petition (‘€62,500 Debt’)
Affidavit of Richard Ambery in Support of Winding Up Petition in Richard Ambery v. Managing Partners Malta Limited at Malta Civil Court (Commercial Division).
U.S. courts authorize IRS to issue ‘John Doe’ summonses to identify Trident Trust Group clients suspected of U.S. tax evasion
United States federal courts in New York and South Dakota have entered orders authorizing the IRS to serve 'John Doe' summonses on 14 entities in an attempt to identify clients of corporate services provider Trident Trust Group who are suspected of evading U.S. taxes, while a third court in Georgia has yet to rule on a similar petition.
USA v. FedEx et al: Order Granting Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Order Granting Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.
Access Global Capital (Cayman Islands) Ltd.: Restoration Application (Cayman Islands)
Originating Application in the matter of Access Global Capital (Cayman Islands) Ltd. at the Grand Court of the Cayman Islands.
USA v. Trident Trust Company (South Dakota) Inc.: USA’s Motion to Unseal All Documents (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
USA's Motion to Unseal All Documents in Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on Trident Trust Company (South Dakota) Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the District of South Dakota.
USA v. Trident Trust Company (South Dakota) Inc.: Court Docket (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Court Docket for a sealed Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on Trident Trust Company (South Dakota) Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the District of South Dakota.
USA v. Trident Corporate Services, Inc. et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Ex Parte Petition by the IRS for Leave to Serve ‘John Doe’ Summonses on TT (USA) Holdings, Inc., Trident Corporate Services, Inc., and Trident Fund Services, Inc. as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Northern District of Georgia.
USA v. FedEx et al: Petition to Serve ‘John Doe’ Summonses (‘Tax Evasion Investigation Into Clients of Trident Trust Group’)
Ex Parte Petition by the IRS for Leave to Serve 'John Doe' Summonses on FedEx Corporation, DHL Express (USA), Inc., United Parcel Service, Inc., the Federal Reserve Bank of New York, The Clearing House Payments Company LLC, HSBC Bank USA, National Association, The Bank of New York Mellon Corporation, Wells Fargo Bank, National Association, Citibank, National Association, UBS AG, Bank of America, National Association, Deutsche Bank Trust Company Americas, and Nevis Services Limited as part of an investigation into suspected tax evasion by clients of Trident Trust Group, filed at the U.S. District Court for the Southern District of New York.
IRS files ‘John Doe summons’ petitions to identify Trident Trust Group clients suspected of U.S. tax evasion
In an attempt to identify clients of international corporate services provider Trident Trust Group who are suspected of evading U.S. taxes, the IRS has applied to federal courts in New York, Georgia, and South Dakota for permission to serve 'John Doe Summonses' on courier services, financial institutions, correspondent banks, and Trident Trust Group itself.
U.K.’s Man Group seeks evidence in U.S. to defend ‘$1B investment loss’ lawsuit by Kuwait’s state pension fund
British and Swiss investment firms that are part of the London-based Man Group have applied to take discovery in New York to aid its defense of a civil lawsuit against them in England by Kuwait's state pension fund, the Public Institution for Social Security, which is seeking nearly $1 billion in damages.
Man Group Ltd. et al v. Wafra Inc.: Discovery Application (England)
Application by Man Group Limited, Man Strategic Holdings Limited, Man Investments Limited, all of England, and Man Investments AG, of Switzerland, collectively described as "member entities of an industry-leading global investment firm, whose ultimate parent is listed on the London Stock Exchange", to take discovery from Wafra Inc. for use in legal proceedings in England filed "by the Kuwaiti State pension fund, the Public Institution for Social Security", filed at the U.S. District Court for the Southern District of New York.
‘Remove ‘defamation link’ or I’ll sue for CHF10M in Switzerland’, writes Aiaz Bakasov
Letter from Aiaz Bakasov threatening to sue OffshoreAlert in Switzerland for "compensation starting at CHF 10 million" if we did not remove from our website a copy of a complaint against Cayman Islands-domiciled Bahet Commodity Arbitrage Limited at federal court in the United States in which a judgment for $1 million was entered against the defendant in 2023. Bakasov was not a party in the action, nor was he referred to as such by OffshoreAlert, but he was identified in an exhibit to the complaint as a "Director" of BCAL's "Investment Director", Headway Management Europe Limited, which was described as "a Gibraltar company".
piggy Switzerland AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that piggy Switzerland AG “is suspected of conducting unauthorised activities in the financial market”.
MAPA Finanz GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that MAPA Finanz GmbH “is suspected of conducting unauthorised activities in the financial market”.
Polaris Financial Investments: Marketing Brochure (Luxembourg)
Marketing Brochure for 'US Healthcare Fixed Income' bond offered by Luxembourg's Polaris Financial Investments.
British fund manager Jeremy Leach defaults on $11.5M fraud complaint settlement, say Cayman liquidators
British fund manager Jeremy Leach has defaulted on an agreement to pay $11.5 million to settle a fraud complaint in the Cayman Islands regarding two of his failed life settlement funds - Traded Life Policies Fund and Diversified Settlements Fund, the liquidators have told creditors.
U.S. investor sues Spanish ‘freedom fighter’ Luis Cuende over ‘$25M Aragon crypto scheme theft’
Alleging "a blatant act of theft", a U.S. investor is suing 24-year-old Spanish self-described "freedom fighter" Luis Cuende and three Swiss entities in New York regarding a crypto venture known as Aragon that raised "$25 million in Ether" via an Initial Coin Offering.
Patagon Management LLC v. The Aragon Association et al: Complaint & TRO Application (‘$25M Crypto Self-Dealing’)
Complaint and Application for a Temporary Restraining Order in Patagon Management LLC, of Delaware, USA v. The Aragon Association, The Aragon Shield Foundation, Aragon X AG, all of Switzerland, and Luis Cuende, described as citizen of Spain residing in Portugal, at the U.S. District Court for the Southern District of New York.
Hong Kong-based French businessman Damien Dernoncourt sues Credit Suisse for ‘spying on me during CEO’s affair with my wife’
Hong Kong-based French businessman Damien Dernoncourt is suing Swiss bank Credit Suisse for $15 million in the United States for allegedly hacking into his emails and spying on him at the direction of the bank's then-CEO, Tidjane Thiam, who was allegedly having an affair with Dernoncourt's then-wife, fellow banker Marie-Soazic Geffroy.
Cayman’s SPI Investment Fund liquidators seek evidence from U.S. loan recipients for investigation into ‘disappearance of $118M’
The liquidators of three insolvent Cayman Islands investment funds who are investigating "the disappearance of monies" from SPI Investment Fund SPC have applied for Chapter 15 bankruptcy recognition in Florida so they can take discovery from representatives of alleged $118 million loan recipients Sinai Holdings and Prudent Group, including Dennis Klemming, Jacob Gitman, and Yulia Kislyuk.
SPI Investment Fund SPC et al: Chapter 15 Petition (Cayman Islands)
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in the Cayman Islands by Andrew Morrison, David Griffin, and Iain Gow, of FTI Consulting, as the Foreign Representatives of SPI Investment Fund SPC (in Official Liquidation), and David Griffin and Yvonne Plamondon, of FTI Consulting, as the Foreign Representatives of International Portfolio Allocation Ltd. (in Official Liquidation) and International Capital Allocation Ltd. (in Official Liquidation), filed at the U.S. Bankruptcy Court for the Southern District of Florida.
Alpmann AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Alpmann AG “is suspected of conducting unauthorised activities in the financial market”.
U.S. seeks ownership of $2.3M cash & 38 luxury watches seized from Cyprus home of indicted Swiss banker Urs Meisterhans
The United States has filed a forfeiture complaint against $2.3 million in cash and 38 luxury watches that were seized in 2021 from the Cyprus home of 63-year-old Swiss banker Urs Meisterhans as part of an investigation into an alleged $6 million international investment fraud and money laundering scheme for which Meisterhans and nine citizens of Cyprus, Ireland, and the United Kingdom were criminally indicted in 2021.
USA v. Assets Seized From Urs Meisterhans: Forfeiture Complaint (‘$2.3M Cash & Luxury Watches’)
Forfeiture Complaint regarding assets allegedly derived from "a sophisticated international mass-marketing investment fraud scheme to defraud English-speaking investors from around the world of millions of dollars, and to launder the fraud proceeds and distribute those proceeds among the conspirators" in USA v. $2.3 million in cash and 38 "luxury-brand watches" seized from the residence of Swiss national Urs Meisterhans in Cyprus at the U.S. District Court for the Southern District of New York.
LV II Investment Management Ltd. et al v. Floreat Private Ltd. et al: Amended Order (‘Service Outside Jurisdiction’)
Amended Order in LV II Investment Management Limited (in Official Liquidation) and Karen Scott and Russell Homer, as Joint Official Liquidators of LV II Investment Management Limited (in Official Liquidation) v. Floreat Private Limited, Mutaz Otaibi, and Daniela Lunardo, all of Geneva, Switzerland, at the Grand Court of the Cayman Islands.
LV II Investment Management Ltd. et al v. Floreat Private Ltd. et al: Originating Summons (‘Fraud’)
Originating Summons to void a Deed of Assignment in LV II Investment Management Limited (in Official Liquidation) and Karen Scott and Russell Homer, as Joint Official Liquidators of LV II Investment Management Limited (in Official Liquidation) v. Floreat Private Limited, Mutaz Otaibi, and Daniela Lunardo, all of Geneva, Switzerland, at the Grand Court of the Cayman Islands.
SEC v. Norman Meier et al: Complaint (‘$7.9M Securities Fraud’)
Complaint alleging the defendant "defrauded over 180
investors, mostly European, out of at least $7.9 million" in U.S. Securities and Exchange Commission v. Norman V. Meier, described as a citizen of Switzerland residing in Massachusetts, USA, as Defendant, and Treuhand Inc., Norman Meier International Inc., a.k.a. NMI Inc; Windeco Corporation, Texxon Oil Corp., and International Financial Services Inc., a.k.a. IFS Inc, d.b.a. IRM Inc., as Relief Defendants, at the U.S. District Court for the District of Massachusetts.
International Global Bank NV v. ItalBank International Inc.: First Amended Complaint (‘$4.3M Blocked Funds’)
First Amended Complaint regarding "blocked funds" totaling $4,359,746 allegedly "related to Venezuela" in International Global Bank NV, of Curaçao v. ItalBank International Inc., of Puerto Rico, at the U.S. District Court for the District of Puerto Rico.
Swiss-based investor prepares to sue in Cayman over ‘$2.3M owed by Reza Ali’s Prosiris investment funds’
Swiss-based investor Karin Reza, who claims she is unable to redeem over $2.3 million in investment funds operated by New York-based fund manager Reza Ali and suspects fraud, has applied to take discovery from Ali, his Prosiris group, and JPMorgan at federal court in the United States for a contemplated lawsuit in the Cayman Islands, where the funds are domiciled.
Karin Reza v. JPMorgan Chase & Co. et al: Discovery Application (Cayman Islands)
Application by Karin Ingrid Reza to take discovery from JPMorgan Chase & Co., J.P. Morgan Chase N.A., J.P. Morgan Securities LLC, as successor to J.P. Morgan Clearing Corp.; Prosiris GP LLC, Prosiris Capital Management LP, and Reza Ali "for use in contemplated Cayman Islands court proceedings" for "recoupment of an investment or for investment–related fraud", filed at the U.S. District Court for the Southern District of New York.
The VETRI Foundation: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that The VETRI Foundation “is suspected of conducting unauthorised activities in the financial market”.
Mirabaud & Cie SA: CHF12.7M Confiscation (Switzerland)
Public Notice by the Swiss Financial Market Supervisory Authority that it has "confiscated CHF 12.7 million of unlawfully generated profits and opened three proceedings against individuals" after finding that Swiss private bank Mirabaud & Cie SA "breached its anti-money laundering obligations and seriously violated financial market law".
Food Initiative LLC v. Evgeny Chernyshev et al: Discovery Application (Russia & Switzerland)
Application by Food Initiative LLC, of Russia, to take discovery from Evgeny Alexandrovitch Chernyshev, Marina Mikhailovna Vergun, and Paracorp Inc. for use in "criminal and civil proceedings currently pending before Russian courts and contemplated civil proceedings in Switzerland" alleging "fraud, breach of contract, alter ego liability and breach of fiduciary duty by the Discovery Targets Chernyshev and his wife, Vergun", filed at the U.S. District Court for the Northern District of California.
USA v. Nigel Sinclair et al: Criminal Indictment (‘$5M Offshore Tax Fraud’)
Criminal Indictment alleging the concealment of $25 million of income via an offshore tax fraud scheme involving individuals, entities and/or accounts in Australia, British Virgin Islands, England, Jersey, in the Channel Islands; Malta, Monaco, Switzerland, and USA in USA v. John Nigel Barton Sinclair, described as a dual citizen of the United Kingdom and United States and film producer who "has received Emmy and Grammy awards", and Anthony Stewart, described as a citizen and resident of Australia and a chartered accountant, at the U.S. District Court for the Central District of California.
Louis Dreyfus Company Suisse S.A. v. John Doe: Complaint (‘$491K Phishing Fraud’)
Complaint alleging the plaintiff was the victim of a $491,081 phishing fraud in Louis Dreyfus Company Suisse S.A., of Switzerland, described as being "part of Groupe Louis Dreyfus S.A., one of the largest global agricultural commodities businesses" v. John Doe at the U.S. District Court for the Southern District of New York.
AMJ Global Entertainment LLC v. Migom Bank Ltd. et al: Class Action Complaint (‘Securities Fraud’)
Class Action Complaint in AMJ Global Entertainment LLC v. Migom Global Corp., Migom Bank Ltd., of Dominica; Thomas A. Schaetti, Juergen Blaha, Gregory Donahue, Michael Herzer, Benno Klebl, Andrew Wordsworth, Johann Gudenus, Stephen Lendhart, and John Does 1-12 at the U.S. District Court for the Southern District of New York.
Valeska Sigren Bindhoff v. André Paul Boissier: Discovery Application (Switzerland)
Application by Valeska Sigren Bindhoff, described as "an 86-year-old Chilean citizen who resides in Santiago, Chile", to take discovery from André Paul Boissier for use in "a contemplated civil proceeding for damages in Switzerland which Petitioner intends to bring against Banque Lombard Odier & Cie S.A., a private Swiss bank headquartered in Geneva, Switzerland", filed at the U.S. District Court for the Central District of California.
CFTC v. TOTSA TotalEnergies Trading SA: $48M Fine (‘Market Manipulation’)
Administrative Order by the U.S. Commodity Futures Trading Commission imposing a fine of $48 million on TOTSA TotalEnergies Trading SA, formerly known as TOTSA Total Oil Trading SA, of Switzerland, for allegedly attempting to manipulate the market for futures contracts linked to EBOB, which was described as "a type of refined gasoline used primarily in automobiles in Europe".
Elena Bourlakova et al v. Steven Landau et al: Judicial Assistance (Switzerland)
Motion by Counter Defendants Loudmila Bourlakova, Elena Bourlakova, Veronica Bourlakova, and Gregory Gliner to take discovery from UBS AG in Switzerland in Elena Bourlakova and Veronica Bourlakova v. Steven Landau, Thomas Butler, Natalia Rousso, Nikolai Kazakov, Vera Kazakov, Semen Anufriev, Igor Krutoy, and Olga Kroutoia at the Circuit Court of the 11th Judicial Circuit, in and for Miami-Dade County, Florida, USA.
Hazim Nada et al v. United Arab Emirates et al: First Amended Complaint (‘Dark PR Campaign to Smear Victims’)
First Amended Complaint alleging "the United Arab Emirates and some of its top officials managed, directed, and bankrolled a years-long “dark” public relations campaign through the Swiss private investigative firm, Alp Services S.A., which was founded, owned, and run by Mario Brero and Muriel Cavin" in Hazim Nada, of Italy, and Lord Energy SA, of Switzerland v. The United Arab Emirates, Ariaf Studies and Research LLC, of Abu Dhabi, United Arab Emirates; Alp Services SA, of Switzerland; Diligence Sarl, of Switzerland; Mario Brero, of Switzerland; Lionel Badal, of Luxembourg; Muriel Cavin, of Switzerland; Lorenzo Vidino, of Washington, D.C., USA; Sylvain Besson, of Switzerland, and John Does 1-25 at the U.S. District Court for the District of Columbia.
EuroChem Group AG v. JPMorgan Chase Bank N.A. et al: Discovery Application (Switzerland)
Application by EuroChem Group AG, of Switzerland, to take discovery from JPMorgan Chase Bank N.A., Truist Financial Corporation, and Truist Bank for use in legal proceedings in Switzerland regarding "an invoice spoofing incident" in which the bank was allegedly defrauded out of $600,000, filed at the U.S. District Court for the Southern District of New York.
Via Brazil International Partners GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Via Brazil International Partners GmbH (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.
