Pricon Privat-Consult AG: Public Warning
Public Warning by the Swiss Financial Market Supervisory Authority that Pricon Privat-Consult AG is suspected of "conducting unauthorised activities in the financial market".
Koch Minerals SÃ rl et al v. Venezuela: $387M Foreign Judgment Registration
Registration of Foreign Judgment in Koch Minerals SÃ rl and Koch Nitrogen International SÃ rl, both of Switzerland v. Bolivarian Republic of Venezuela at the U. S. District Court for the District of Delaware.
Offshore liquidators try to stop IRS from seizing assets linked with indicted ‘$2B tax fraudster’ Robert Brockman
In an attempt to prevent the IRS from seizing assets in the United States, liquidators in Bermuda and the Cayman Islands have applied for U.S. recognition of their liquidation of a Bermuda company - Point Investments Ltd. - that was allegedly part of a $2 billion offshore tax fraud scheme involving billionaire Robert Brockman, 80.
USA v. Julius Csurgo et al: Criminal Indictment
Criminal Indictment alleging securities fraud and money laundering involving individuals or entities in or from the Bahamas, Canada, Cayman Islands, Croatia, Denmark, France, Hungary, Monaco, Spain, Switzerland, United Kingdom, and USA in USA v. Julius Csurgo and Anthony Korculanic at the U. S. District Court for the Southern District of New York.
Bidzina Ivanishvili et al v. Credit Suisse Life (Bermuda) Ltd.: Judgment
Judgment in Bidzina Ivanishvili, described as "a successful businessman and former Prime Minister of Georgia"; Ekaterine Khvedelidze, Tsotne Ivanishvili, Gvantsa Ivanishvili, Bera Ivanishvili, Meadowstreet Assets Limited, and Sandcay Investments Limited v. Credit Suisse Life (Bermuda) Limited at Bermuda Supreme Court.
Point Investments Ltd.: Chapter 15 Petition (Bermuda)
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Andrew Childe, Richard Lewis, and Mathew Clingerman, as the Foreign Representatives of Point Investments Ltd., a Bermuda company whose ultimate beneficiaries include Robert Brockman, a businessman in the United States who is currently awaiting trial for an alleged $2 billion tax fraud scheme involving Point Investments and other entities in Bermuda, British Virgin Islands, Cayman Islands, Nevis, and Switzerland, filed at the U. S. Bankruptcy Court for the District of Delaware.
Swiss lawyer Dario Item lied to obtain Antigua banking license, judgment shows
Madrid-based Swiss lawyer Dario Item, 49, who serves as Antigua and Barbuda's Ambassador to Spain, Liechtenstein, and Monaco, lied to Antigua's financial regulator when successfully applying for a bank license in 2018, apparently to conceal an investigation in Labuan that led to his corporate disqualification and the closure of his bank there the following year, OffshoreAlert can reveal.
BVI-domiciled Yukos applies to enforce $5B arbitration award against Russia
British Virgin Islands-domiciled Yukos Capital Limited yesterday filed a petition at federal court in Washington, D.C. to enforce a $5 billion arbitration award that was entered against Russia last year in Switzerland.
Yukos Capital Ltd. v. Russian Federation: Petition to Enforce $5B Arbitral Award
Petition to Enforce Arbitral Award that "arises from Russia’s illegal expropriation of Yukos Capital’s multi-billion dollar investments in Yukos Oil Company in the form of two loans made in 2003 and 2004" in Yukos Capital Limited, of the British Virgin Islands, described as "a former, indirect, wholly-owned subsidiary of Yukos Oil" v. The Russian Federation at the U. S. District Court for the District of Columbia.
Swiss asset manager Marc-André Pépin accused of fraud by Cayman’s SPI Investment Fund
In a winding-up petition, Swiss investment manager Marc-André Pépin has been accused of "fraudulent misconduct and mismanagement" by Cayman Islands-domiciled SPI Investment Fund SPC, whose investors' funds have allegedly ended up in questionable arrangements with entities operated by Prudent Group, Dennis Klemming, and Jacob Gitman, all of Miami, Florida.
Prudent Investment Fund: Corporate Report (Luxembourg)
Corporate Report for Prudent Investment Fund, obtained from the Luxembourg Business Register on March 16th, 2022.
USA v. Robert Brockman: Transcript of Competency Hearing
Transcript of Competency Hearing in USA v. Robert T. Brockman, who has been criminally charged with conspiracy to defraud the USA, tax evasion, wire fraud, FBAR violations, money laundering, evidence tampering, and destruction of evidence regarding an alleged scheme to conceal approximately $2 billion of capital gains income and involving entities and accounts in Bermuda, British Virgin Islands, Cayman Islands, Nevis, and Switzerland, at the U.S. District Court for the Southern District of Texas.
Bahamas blockchain firm Delchain sued for $20M after Dreamr crypto token ‘crashed 93% in 90 days’
Bahamas-based blockchain firm Delchain and four others, including Deltec Bank & Trust in the Bahamas and Suisse Finance in Switzerland, are being sued for $20 million in damages after the price of a digital token issued by fellow Bahamas firm Dreamr "crashed 93%" within three months of being listed on the Bittrex crypto exchange.
USA v. Ronald Bauer et al: Criminal Indictment
Criminal Indictment alleging securities fraud and money laundering involving individuals or entities in or from Antigua and Barbuda, Bulgaria, Canada, Cayman Islands, Croatia, Denmark, Monaco, Switzerland, United Kingdom, and USA in USA v. Ronald Bauer, Craig Auringer, Petar Mihaylov, and Daniel Ferris, at the U. S. District Court for the Southern District of New York.
Dreamr Labs Ltd. v. Delchain Ltd. et al: Complaint (‘$20M Crypto Claim’)
Complaint for $20 million alleging fraud and breach of contract involving crypto in Dreamr Labs Limited, of the Bahamas v. Delchain Limited, of the Bahamas; Deltec Bank & Trust Limited, of the Bahamas; Bruno Macchialli, of Porte Vedra, Florida; Suisse Finance Holdings, of Switzerland, and Richard Iamunno, of Boca Raton, Florida, at the U. S. District Court for the Eastern District of New York.
Dominic Schindler Holding AG v. Peter Moore: Judgment ($1.2M)
Judgment in Dominic Schindler Holding AG, of Zürich, Switzerland v. Peter Moore at the U. S. District Court for the Eastern District of New York.
Dinosaur Financial Group LLC et al v. CUSIP Global Services et al: Class Action Complaint
Class Action Complaint alleging the defendants "have conspired for decades to eliminate competition in the use of CUSIPs - the “CUSIP Use Market" in Dinosaur Financial Group LLC, of New York, USA, and Swiss Life Investment Management Holding AG, of Zurich, Switzerland v. CUSIP Global Services, S&P Global Inc., American Bankers Association, and FactSet Research Systems Inc. at the U. S. District Court for the Southern District of New York.
Humbert Guido Zampieri: Industry Ban
Public Notice by the Swiss Financial Market Supervisory Authority that it has order Humbert Guido Zampieri, a citizen of Germany, to stop conducting financial business that requires a license.
Barbara Kiss v. BVI Registrar of Corporate Affairs: Restoration & Liquidation Application (Maseru Development Inc.)
Fixed Date Claim Form regarding Maseru Development Inc. in Barbara Kiss, of Locarno, Switzerland v. The Registrar of Corporate Affairs at the British Virgin Islands High Court.
Nathan Christian v. INVAO Trading AG et al: Complaint
Complaint alleging breach of contract and unjust enrichment in Nathan Christian, described as "a heralded and respected advisor in the emerging field of blockchain technology" v. INVAO Trading AG, of Liechtenstein; INVAO Service GmbH, of Germany, and INVAO Blockchain Investment LLC, all part of a group that claims on its website to be "a leading financial services provider for the management of digital assets" that is "based in Liechtenstein, Switzerland, Berlin and Dubai", at the U. S. District Court for the District of Wyoming.
Portmann Capital Management Ltd.: License Revocation
Public Notice by the Malta Financial Services Authority that it has cancelled the investment services license of Portmann Capital Management Limited.
SPI Investment Fund SPC: Winding Up Petition (‘Fraud’)
Winding Up Petition alleging "fraudulent misconduct and mismanagement" in the matter of SPI Investment Fund SPC at the Grand Court of the Cayman Islands.
Agir Luxembourg SA: €40K Fine
Public Notice by the Luxembourg CSSF that it has imposed a fine of €40,000 on PFS Agir Luxembourg S.A. for regulatory breaches.
Former Mongolia Prime Minister Sükhbaataryn Batbold & son sued in the BVI for alleged corruption
Mongolia's former Prime Minister Sükhbaataryn Batbold, his son, Battushig Batbold, and entities in the British Virgin Islands, Hong Kong, Mongolia, South Korea, and Switzerland are being sued in the BVI for alleged corruption.
Adelina Gomez v. Credit Suisse AG: Class Action Complaint
Class Action Complaint that "arises out of Credit Suisse's announcement of its decision to delist and suspend the issuance of its exchange traded note product, DGAZ" in Adelina Gomez v. Credit Suisse AG, of Switzerland, at the U. S. District Court for the Southern District of New York.
Records sought from 7 New York banks in hunt for ‘billions of Rubles stolen by Russian ex-banker Anatoly Motylev’
The bankruptcy trustees of London-based Russian suspected fraudster Anatoly Motylev are seeking records from seven banks in New York as they hunt for the "billions of Rubles" he is accused of misappropriating from failed Russian banks and pension funds he once controlled.
Anatoly Motylev v. Bank of America et al: Discovery Application (England)
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
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.
Agency for Policy Coordination on State Property et al v. Sükhbaataryn Batbold et al: Claim Form
Claim Form against entities in the British Virgin Islands, Hong Kong, Mongolia, South Korea, and Switzerland in Agency for Policy Coordination on State Property, Erdenet Mining Corporation, and Erdenes Oyu Tolgoi LLC v. Sükhbaataryn Batbold, a former Prime Minister of Mongolia; Battushig Batbold, Ganzorig Chimiddorj, Cheong Choo Young, Kim Hak Seon, Kang Eun Joo, Kim Yoonjung, Catrison Limited, Cliveden Trading AG, Ever Global Trading Limited, Genetrade Limited, Jazlyn Limited, Bisley Development Limited, Lorsch Limited, Noxas Limited, Midlink PE Limited, Baloas Limited, Cyzycus Limited, Infinite Properties Limited, Lovitas Limited, Kosmatus Limited, Bophut Investments Limited, Jadepeace Group Limited, Grand Oriental Holdings Limited, and Lakeview Group Holdings Limited at the British Virgin Islands High Court.
Wedbush Securities Inc.: $1.2M Penalties
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $1.2 million on Wedbush Securities Inc. for the "unregistered offers and sales of large blocks of low-priced securities by an offshore customer", namely Silverton SA, now known as Wintercap SA, described as "a purported Swiss asset manager", and failure to file suspicious activity reports.
BRG GRAF GP LLC v. Gottex Fund Management SÃ rl et al: Writ of Summons
Writ of Summons regarding the defendants' "conduct as general partner and investment manager in valuing portfolio assets and in drawing and receiving excessive management fees based on overstated valuations" in BRG GRAF GP LLC, as assignee and general partner, for an on behalf of the Gottex Real Asset Fund LP, of the Cayman Islands, and general partner for and on behalf of the Gottex Brent Real Asset Fund LP, of Delaware v. Gottex RAF GP LP, of the Cayman Islands, and Gottex Fund Management SÃ rl, of Switzerland, at the Grand Court of the Cayman Islands.
An Investigator’s Guide to Swiss Banking
In this video, two investigative journalists in Switzerland discuss Swiss banking's involvement with financial crime, both historically and currently, the effect of criminal investigations in the United States, and the role and attitude of the Swiss judicial system in clamping down on financial crime. Speakers: François Pilet (Gotham City), Sylvain Besson (Tamedia)
Zedra Malta Corporate Services: €2.5K Fine
Public Notice by the Malta Financial Services Authority that it has imposed a fine of €2,500 on Zedra Malta Corporate Services for a regulatory breach.
SEC v. Vincenzo Carnovale et al: Complaint
Complaint alleging the defendants "engaged in fraudulent schemes to sell and cause to be sold publicly-traded stock to investors" in U. S. Securities and Exchange Commission v. Vincenzo Carnovale, described as "a resident of British Columbia, Canada, and a dual citizen of Italy and Canada", and Amar Bahadoorsingh, described as "a resident of British Columbia, Canada, and a dual citizen of the United Kingdom and Canada", at the U. S. District Court for the District of Massachusetts.
Howard E. Wolf et al v. Layer1 Technologies Inc.: Complaint
Complaint "to make certain of its books and records available for inspection by Plaintiffs" for an investigation into suspected "mismanagement or wrongdoing" involving transactions with Switzerland-based Enigma Holding AG and "a Shanghai-based semiconductor company and its cryptocurrency subsidiary" in Howard E. Wolf, The Rogers Family 1995 Trust, The Geier Family Trust UTA Dated May 8, 2003, WhoKnew Ventures LLC, Paul Sebexen, and Blockbase Group DWC-LLC v. Layer1 Technologies Inc., described as "a Bitcoin mining, technology, and factory development company headquartered in San Francisco, California", at the Court of Chancery of the State of Delaware.
SEC v. Marc Demane Debih: Complaint
Complaint alleging the defendant "traded on inside information and tipped others ahead of numerous market-moving corporate announcements in an international insider trading ring that generated tens of millions in illicit profits for the participants, with Debih himself netting at least $49 million" in a scheme allegedly involving individuals in or from England, France, Greece, Israel, Switzerland, and Thailand, in U. S. Securities and Exchange Commission v. Marc Demane Debih, described as a resident of Switzerland, at the U. S. District Court for the Southern District of New York.
Kazakhstan’s BTA Bank sues ex-chairman and 52 others in the BVI for ‘$231M offshore SPV fraud’
In a complaint filed at the British Virgin Islands High Court, Kazakhstan's BTA Bank has accused 53 defendants in the BVI, Cyprus, Germany, Guernsey, Kazakhstan, Latvia, Panama, Russia, Seychelles, Singapore, Switzerland, and USA, including its former chairman, Mukhtar Ablyazov, of defrauding the bank of $231 million.
The Timeless Uranium Fund SICAV Plc: ‘New Liquidator’ Directive
Public Notice by the Malta Financial Services Authority that it has "directed" The Timeless Uranium Fund SICAV Plc, described as "a collective investment scheme targeting retail investors", to "take all the necessary steps to ensure that a new liquidator is appointed within one month".
The Timeless Precious Metals Fund SICAV Plc: ‘New Liquidator’ Directive
Public Notice by the Malta Financial services Authority that it has "directed" The Timeless Precious Metals Fund SICAV Plc, described as "a collective investment scheme targeting retail investors", to "take all the necessary steps to ensure that a new liquidator is appointed within one month"
Sierra Madre Gold & Silver Venture Capital Fund SICAV Plc: ‘New Liquidator’ Directive
Public Notice by the Malta Financial Services Authority that it has "directed" Sierra Madre Gold & Silver Venture Capital Fund SICAV Plc, described as "a Professional Investor Fund", "to take all the necessary steps to ensure that a new liquidator is appointed within one month"
Spanish Steps Holdings Ltd. v. Point Investments Ltd.: Judgment (Robert Brockman case)
Judgment setting out the Court's reasons for the appointment of Joint Provisional Liquidators for Point Investments Ltd. in Spanish Steps Holdings Ltd., described as being "ultimately wholly owned by the trustee of the A. Eugene Brockman Charitable Trust v. Point Investments Ltd., described as a Bermuda company that began life in the British Virgin Islands and has assets of $1.8 billion, "the vast majority of which are represented by investments in Cayman Islands funds", at Bermuda Supreme Court.
Venequip SA v. Louisiana Machinery Company LLC et al: Discovery Application
Application by Venequip SA, of Venezuela, to take discovery from Louisiana Machinery Company LLC, d.b.a. Louisiana Cat or Louisiana Rents, for use in legal proceedings in Switzerland, filed at the U. S. District Court for the Eastern District of Louisiana.
Switzerland: Frost Bank et al
Application for the appointment of a Commissioner to collect evidence from BB&T Bank, SunTrust Bank, Western Alliance Bank, and Comerica Bank - pursuant to a request for judicial assistance from Switzerland - for use in a criminal investigation into "unknown subject(s) for fraud and money laundering" involving "pre-IPO shares" in "the online lodging marketplace company Airbnb".
Venequip SA v. Clover Systems LLC: Discovery Application
Application by Venequip SA, of Venezuela, to take discovery from Clover Systems LLC for use in legal proceedings in Switzerland involving "the demise of the decades-long business relationship between Venequip and Caterpillar S.A.R.L., a Swiss entity and the other party to the Swiss Proceeding", filed at the U. S. District Court for the Southern District of Florida.
State Corporation Deposit Insurance Agency v. Standard Chartered Bank: Discovery Application
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.
Venequip SA v. Ring Power Corporation: Discovery Application
Application by Venequip SA, of Venezuela, to take discovery from Ring Power Corporation for use in legal proceedings in Switzerland involving "the demise of the decades-long business relationship between Venequip and Caterpillar S.A.R.L., a Swiss entity and the other party to the Swiss Proceeding", filed at the U. S. District Court for the Middle District of Florida.
USA v. Vladimir Mrvic: Complaint
Complaint "to collect his unpaid federal penalty assessments and interest related to his financial interests in foreign bank accounts" in USA v. Vladimir Mrvic, described as "a dual citizen of the United States and Serbia", 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’)
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.
Lecocqassociate Ltd.: €3.5K Fine
Public Notice by the Malta Financial Services Authority that it has imposed an administrative fine of €3,500 on Lecocqassociate Ltd. for a regulatory breach.
Venequip SA v. Mustang Machinery Company LLC: Discovery Application
Application by Venequip SA, of Venezuela, to take discovery from Mustang Machinery Company LLC for use in legal proceedings in Switzerland "between Venequip and Caterpillar, S.A.R.L.", filed at the U. S. District Court for the Southern District of Texas.