Poland: Alfred Poser
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into Alfred Poser for alleged fraud and perjury.
Imperial Consolidated audit rejected by UK regulators
A spokesman for Companies House for England & Wales told OffshoreAlert today that the first ever audited financial statement for Imperial Consolidated PLC, which is the British holding company for the Imperial Consolidated financial services group, has finally been submitted to regulators - and rejected.
The audit was due to have been submitted to Companies House on or before December 30, 2000 and had officially been listed as 'OVERDUE' at Companies House until today, when its status was changed to 'PENDING'.
Insider Talking: January 31, 2001
David Voth unable to name auditor of The Forex Fund, Dennis Sutton charged with fraud and forgery in the Bahamas, fraudulent GTrade 'stock exchange' becomes active again after months of inactivity, conman Joseph Becker sets up his own European Community in cyberspace, FIBG-related barrister Lawrence Jones stops practicing law in England.
Imperial Consolidated Plc misses filing deadline for audit
The British holding company for the Imperial Consolidated financial services group has missed a statutory deadline for the filing of its first ever audit, OffshoreAlert can disclose.
Spanish newspaper reveals Imperial Consolidated’s relationship with arms dealer
The Spanish newspaper El Mundo published several articles yesterday and today about a business relationship (turned sour) between the Imperial Consolidated Group, which has offices in the UK, the Bahamas, Grenada and other countries, and Monzer al-Kassar, a Syrian national who has been described in various media articles over the years as one of the world's largest arms dealers and whose clients, according to El Mundo, include suspected terrorist Osama Bin Laden, whom the US believes was involved with the World Trade Center bombing.
Leon Brener v. Malcolm Alan Novack et al: Complaint
Complaint in Leon Brener v. Malcolm Alan Novack, Marilyn Novack, Watermark (International) Holdings Ltd., Buckingham Holdings International Ltd., Pembroke Trading Company Ltd., and Gabelle Holdings Ltd. at the U. S. District Court for the Southern District of Florida.
Bahamas firms terminate Imperial Consolidated’s HINT MasterCard
The UK-based Imperial Consolidated Group has suffered another blow with the forced termination of its HINT MasterCard offshore credit card program, which was operated from the Bahamas.
Leadenhall Bank & Trust, which issued the card, and Axxess International, which administered it, withdrew their support in November due to concerns over Imperial Consolidated's credibility.
David Gilliland pleads guilty to investment fraud, turns on his co-defendants
A guilty plea has been entered by one of the defendants in an alleged $95 million investment fraud in which funds were allegedly laundered through the Bank of Bermuda in the name of an Antiguan 'paper' bank. Benjamin David Gilliland, of Memphis, Tennessee, pleaded guilty on August 22, 2000 to one count each of conspiracy to commit wire and securities fraud and conspiracy to commit money laundering.
Grenada licenses new FIBG and blocks FBI investigation into fraud
Grenada Prime Minister Keith Mitchell is being lined up as a potential defendant in a civil fraud lawsuit following the collapse of the First International Bank of Grenada. Depositors have vowed to take action against Mitchell after his government announced that it had granted a license to a new bank called First International Bank of Grenada 2000 Ltd.
Insider Talking: September 30, 2000
As 51-year-old British businessman Leslie Wingham scours the world for places to park millions of dollars allegedly defrauded from clients of Antigua-based Accord Insurance, it is worth taking a look at his none-too-pretty business record over the years; We can report further news on Dominica-based British Trade & Commerce Bank, which acknowledged in our July 31 edition that it was experiencing liquidity and other problems due to having some of its assets frozen in Canada and because of an alleged credit card fraud against the bank; American Eric Resteiner, who bought Viktor Kozeny's luxury home in Lyford Cay in the Bahamas not too long ago, has vacated the property after failing to meet mortgage payments and is believed to be now living in either Switzerland or Cairo, said a source; We recently received another fax from 'Anne Gregory' of The Finance Merchants Group, which purports to sell offshore bank charters from a base in the Bahamas; and We reported last month on how DIAK Bank was being operated without a license in St. Vincent by 'minister of religion' Clifford Pitt and was offering depositors annual interest rates of 25-35 per cent. We have since learned that these rates are peanuts compared with the returns of five per cent per month or 90 per cent annually being offered for five-year certificates of deposits by its sister company, DIAK Asset Management Company Ltd.
Martin Hoffman discusses his sometimes controversial past
American businessman Martin Hoffman has attracted his fair share of publicity in his long career in the insurance industry, which began in the 1960s and has covered markets in the United States, the UK, Bermuda and around the world. Over the next few editions, Inside Bermuda will serialize a comprehensive interview that we conducted with Hoffman in which he addresses several controversial incidents that he has been linked with, including the collapse of US firms Kenilworth Insurance and Cadillac Insurance and the operations of Barbados-based Towers International Re/Knightsbridge International Re. Since December of 1994, Hoffman has been the President of New York-based Eton Management Corporation, which is engaged in a broad range of insurance and reinsurance activities, including the management of an International Marine and Property Program. Prior to founding Eton Management, he ran MIH Consultants, which provided consulting, administrative, software development and processing for small and medium-sized insurance companies and agents. Early in his career, Hoffman was hired to head the Reinsurance Audit Staff at Norman Reitman & Company, an international insurance accounting firm specializing in reinsurance and CIGNA British Companies and Bermuda Reinsurers. After he left Norman Reitman & Company, Hoffman was retained by a London brokerage firm where he was responsible for all accounting activities related to the brokerage firm's business underwritten by production sources in the United States on behalf of Lloyd's of London.
United Kingdom: William John Poole
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into William John Poole for alleged fraud.
United Kingdom: Michael Stanley Buchanan et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Michael Stanley Buchanan and Stanley George Mole for suspected theft, forgery and conspiracy to steal.
United Kingdom: Gary Kirby et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged fraud by Gary Kirby and others.
Ex-Bermuda residents linked with international ‘cash back’ fraud
Two British insurance consultants with close ties to Bermuda are being investigated for an alleged multi-million dollar fraud that could have as many as 40,000 victims in the UK and Europe. Former Bermuda residents Simon John Samuels, 44, and Charles Gordon-Seymour ran the failed Intervest Capital group, which was headquartered in Las Vegas and had a marketing arm in the UK.
Omega Trust and Trading investment farce ends after six-year run
One of the longest-running investment farces ever ended this month when 19 people were criminally indicted in relation to a so-called 'offshore trading program' known as Omega Trust and Trading Ltd. The scheme has been going on since at least January, 1994 and has raised at least $12.5 million, according to an indictment filed at the US District Court for the Central District of Illinois on August 18.
Trenwick-La Salle Re merger nears completion
The merger of LaSalle Re Holdings Limited and Trenwick Group Inc., which was announced last December, is close to completion. After clearing SEC red-tape, LaSalle and Trenwick have scheduled meetings of their shareholders to approve the transaction for September 25, 2000.
Keith King panned in Isle of Man judgment
A now defunct Isle of Man stockbroking company controlled by offshore businessman Keith King has lost a second civil lawsuit brought by a former client. Defendant City & International Securities was found to have illegally transferred GBP200,000 out of the account of The Mannin Foundation, of Liechtenstein, to fund a new stockbroking firm that collapsed within 12 months and was compulsorily wound up by the Isle of Man High Court.
Jeeves Group named in UK Gov’t report on failed timeshare group
The Jeeves Group, which operates out of Liechtenstein and St. Vincent, has been named in a UK government investigation into an alleged scam involving more than GBP7 million. The group represented two St. Vincent-registered companies that were part of an organization involved in the fraudulent sale of shares and timeshare holidays to the public, according to the Department of Trade & Industry.
Insider Talking: August 31, 2000
Granger Brewster Whitelaw, the founding CEO of one of Bermuda's first e-commerce companies, EOCnet.com, pleads guilty to a criminal misdemeanor in New York, arrest warrant issued for Canadian chartered accountant Steven Brown following fraud investigation in the Turks & Caicos Islands, Panama Attorney General Jose Antonio Sossa orders arrests of four journalists, liquidators of Bermuda-based Telecheck group complete liquidation, Imperial Consolidated (Bahamas) boss Bill Godley receives compensation of $65,000 per month.
Trial date set for Sphere Drake-Odyssey Re lawsuit
The London Commercial Court has scheduled October, 2001 for the start of a trial relating to a civil lawsuit filed by Sphere Drake Insurance (formerly Odyssey Re-London) against two UK-based subsidiaries of Stirling Cooke Brown Holdings, two former officers of those subsidiaries, and others on February 29, 2000.
France: Godfried Hoppenbrouwers
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in France into Godfried Guido Maria Hoppenbrouwers for alleged narcotics trafficking and money laundering.
South Africa: Dr. Wouter Basson
Application for the appointment of a Commissioner for a criminal investigation in South Africa into Dr. Wouter Basson for alleged fraud, murder, attempted murder, conspiracy to commit murder, possession of prohibited substances (Cocaine, Mandrax and Ecstasy) and "defeating the ends of Justice".
USA v. Mack Obioha et al: Motion for Letters Rogatory
Defendant Obioha's Motion for Issuance of Letters Rogatory in the case of 'USA vs. Mack Obioha et al' at the U. S. District Court for the Eastern District of California.
State of Florida v. John McGarrity et al: Amended Information (2000)
Amended Information in State of Florida v. John McGarrity James T. Staples, Joseph Monaco, James Deas, Francis Clarkson, John McGarrity, John Manion, Jeff Mann, Rich Mann, David Trotter, Steven Schaefer, Jeno Koch, and Julie Gilvary at the Circuit Court of the Eighteenth Judicial Circuit, in and for Seminole County, Florida.
Insider Talking: July 31, 2000
Robin Cotterell released on bail pending trial on money laundering charge, SG Hambros and Coutts settle Bahamas lawsuit, casino web-site's links to the Bahamas, where Internet gaming is prohibited; Canadian regulators issues warning about Cayman International Holdings, First International Bank of Grenada fraudsters open a new bank, investors in Versailles finance group apply to liquidate BVI firm Trading Partners, Harris Organization has Nov. 24 deadline to obtain investment manager's license in Panama, Imperial Consolidated Securities SA offers "High-Yield Investment Facility", Cayman Islands passes Electronic Transactions Bill and Computer Misuse Bill.
UK accountant declares FIBG solvent, triggers disbelief
In a development that will astound many businessmen in the region, a UK-based chartered accountant appears to have given the First International Bank of Grenada a clean bill of health.
The Mannin Foundation vs. City & International Securities Ltd.: Plaintiff’s Closing Submissions
The Mannin Foundation vs. City & International Securities Limited - Plaintiff's Closing Submissions - Isle of Man High Court of Justice - July 13, 2000
Reg Billyard retires, leaves behind carnage
Bermuda-based broker Reg Billyard, whose alleged malpractice has contributed to chaos in world reinsurance markets, appears to have left the industry.
Billyard retired as President of JEH Re Underwriting Management (Bermuda) Ltd. in May and moved from Bermuda to his native England.
United Kingdom: Kenneth Roy Simmons et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into suspected narcotics trafficking by Kenneth Roy Simmons and others.
United Kingdom: Bashru Oladiranet al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged credit card fraud by Bashru Oladipupo Oladiran and Jairzinho Olusoji Williams.
Switzerland: Magda Medina Perez
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Switzerland into Magda Medina Perez for alleged forgery and money laundering.
Insider Talking: May 31, 2000
International Financial Privacy Association's '6,000 square foot' office building fails to materialize, fraudulently-operated World Investors' Stock Exchange shamelessly targets the elderly, Imperium Bank offers double-digit annual returns, Cayman Islands Court of Appeal upholds decision to remove Chris Johnson and Nick Freeland as liquidators of local Cash 4 Titles firms, Eugene Chusid's Digital Commerce Bank, John Bourbon and Valia Theodoraki appointed heads of Cayman Islands Monetary Authority and Cayman Islands Stock Exchange, respectively; Nigel Scott Grant - sorting out fact from fiction on his Curriculum Vitae.
Stirling Cooke under investigation by Lloyd’s of London
Stirling Cooke has disclosed that its UK-based subsidiaries are being investigated by Lloyd's of London following the apparent insolvency of a Lloyd's syndicate known as the Alan R. Bird syndicate.
The Bird syndicate is believed to have become insolvent following an arbitration ruling on December 9, 1999 that rescinded reinsurance contracts with Transamerica Occidental Life Insurance Co., primarily on the grounds that Stirling Cooke, in its capacity as broker, had orchestrated an "abnormally tight" reinsurance spiral.
Compagnie d’Escomptes Financiers CEF SA v. Georgian Bay Holdings Corporation et al: Writ of Summons
Writ of Summons in Compagnie d'Escomptes Financiers CEF SA v. Georgian Bay Holdings Corporation, Anchorage International Fund Management Limited, Bank of America Trust and Banking Corporation (Cayman) Limited, and Australia and New Zealand Banking Group Ltd. at the Grand Court of the Cayman Islands.
United Kingdom: Stephen Anthony Trutch et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into alleged fraud, money laundering and perjury concerning Stephen Anthony Trutch and Jeanne Mary Trutch.
Insider Talking: April 30, 2000
The low-down on Imperial Consolidated's City UK Ltd., Antigua-based Accord Insurance goes to ground; and Mezzanine Capital's Eric Chess Bronk, complaints to SEC about clampdown on broker activities.
‘It all seems very strange’ – A look at the Imperial Consolidated Group in the UK
In the course of our inquiries into the Imperial Consolidated Group, which has regional offices in the Bahamas, the Cayman Islands and Grenada, Offshore Alert talked with a local journalist in Lincolnshire who visited ICG's offices at Brookenby about 12-18 months ago. His report, which appears below, confirmed that the group is one of the largest private employers in the area and has added to the mystique that surrounds ICG, which has become one of the highest profile offshore companies over the last few years.
United Kingdom: Peter Paul Gellatly et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into an alleged advance fee fraud by Peter Paul Gellatly, David Robertson and David Tallant.
Stirling Cooke reports $8.8 million loss amid costs of litigation
The cost of being involved in so many lawsuits is taking its toll on Stirling Cooke Brown Holdings, with the company reporting a net loss of $8.8 million for the quarter ended December 31, 1999, compared with a profit of $3.9 million a year earlier.
Imperial Consolidated Group’s links to High Yield Investment Programs
Offshore Alert has obtained documents which implicate the Imperial Consolidated Group in the sale of investment programs purporting to offer guaranteed returns of as much as 30 per cent per month. In one program, Imperial Consolidated offers to pay a return of 9.25 per cent per month while simultaneously paying a 40 per cent commission to brokers who introduce investors.
Criminal indictment against Suisse Security Bank & Trust client
Bahamas-based Suisse Security Bank & Trust, whose dubious clients have been exposed in the last two editions of Offshore Alert, is the banker to yet another allegedly fraudulent investment scheme, we can disclose. Although not a defendant, the bank is mentioned in a criminal indictment filed at the United States District Court for the Eastern District of California against Larry W. Wilcoxson, David Baxter, C. William Gordin, Roxanne Albaugh and John R. Witzke.
Imperial Consolidated Group launches new offshore credit card
Bahamas-based Imperial Consolidated Securities, which has had several scrapes with regulators over the way it promotes its mutual funds, has launched a new offshore credit card with an aggressive promotional campaign that repeats claims that its funds guarantee returns of up to 18 per cent per year. "The Imperial Consolidated HINT MasterCard can be used like a regular credit card but the card offers superb advantages when used in conjunction with Imperial Consolidated mutual funds," states promotional literature.
Stirling Cooke lawsuit moved from New York to UK
Stirling Cooke's share price hit its highest level in several months following the decision of a New York judge to dismiss Odyssey Re's racketeering lawsuit against the company. Stirling Cooke's stock closed at $3.69 on February 29 - up by 47 per cent on the month. The major rise occurred after Judge Naomi Reice's decision on February 28 to dismiss Odyssey Re's lawsuit on the grounds that the United Kingdom was a more appropriate forum.
United Kingdom: Bashru Oladipupo Oladiran et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Bashru Oladipupo Oladiran and Jairzinho Olusoji Williams for alleged fraud.
United Kingdom: Ibrahim Karagozlu et al
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom involving Ibrahim Karagozlu and others.
United Kingdom: Ibrahim Karagozlu
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Ibrahim Karagozlu and others for alleged narcotics trafficking and money laundering.
Transamerica wins second ‘spiral’ arbitration
California-based Transamerica Occidental Life Insurance Co. has won a second arbitration over its refusal to pay multi-million dollar reinsurance claims on coverage brokered by Stirling Cooke Brown Holdings.
The losing party was Alan R. Bird, on his own behalf and representing all members of Lloyd's Syndicate 103 for the 1993/94 years of account.
Imperial Consolidated Group closes Cayman and Barbados offices
Questions and Answers between OffshoreAlert and Imperial Consolidated's Bill Godley about the closure of Imperial's offices in Barbados and the Cayman Islands.
Alan Bird lawyer writes that Chubb has ‘deepest pocket’
The Alan Bird Syndicate's UK attorneys have discussed the possibility of suing the Chubb Insurance Group and Stirling Cooke Brown Holdings in the aftermath of its arbitration loss to Transamerica. Chubb, which previously lost a similar arbitration to Transamerica, is considered to be an attractive target because it has "the deepest pocket", while Stirling Cooke might escape an action because it was "highly probable that the company will eventually fold".