Banks & Trusts

Mariner International Bank liquidator files US lawsuit

June 5, 2005

The liquidator of a fraudulently-operated offshore bank has taken steps to prevent a California-based CPA from obtaining a "preferred" recovery.Marcus Wide, liquidator of Mariner International Bank, of St. Vincent & the Grenadines, filed a petition against Sandy Magid, as successor Trustee of the Alta Trust dated June 30,1999; Challenge Financial Services LLC, f.k.a. VanCleave Enterprises LLC, and Challenge Realty Inc., which are both incorporated in Nevada and based in Winter Park, Florida, at the U. S. Bankruptcy Court for the Middle District of Florida on May 31, 2005.

Portugal: Bank of America (2005)

June 2, 2005

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Portugal into Jose Manuel Moura

Mariner International Bank Ltd.: Section 304 Petition

May 31, 2005

Section 304 Petition for Assistance in Insolvency Proceedings in St. Vincent and the Grenadines by Marcus Wide, as the Foreign Representative of Mariner International Bank Ltd., at the U. S. Bankruptcy Court for the Middle District of Florida.

U.S. Bank NA v. Eel River Investment Company et al: Second Amended Complaint

May 18, 2005

Second Amendment Complaint in U.S. Bank N.A. v. Eel River Investment Company, Veril L. Olsen, Michael D. Ross, John E. Breazile, Michael Sullivan, Sterne Agee & Leech Inc., Eel River Acquisition Corporation, Ross Williamson & Loitz PLLC, Sendjer Shefket, of England; Target International Funds Ltd., of England, and Eel River Lumber Products LLC at the U. S. District Court for the Western District of Washington.

Slovenia: Branko Pintaric

May 16, 2005

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Slovenia into Branko Pintaric, Dusan Povse and Roman Zor for alleged fraud.

Documents show PwC and Deloitte & Touche knew of Yukos transfer pricing

April 30, 2005

As a Russian court prepares to issue a verdict in the tax evasion trial of Russian mogul Mikhail Khodorkovsky, documents show that his Menatep holding company and Yukos Oil shorted Russia of billions of dollars in taxes by using shell companies for transfer pricing.They also allegedly cheated minority shareholders. A U.S. lawsuit is charging that Yukos auditor PricewaterhouseCoopers knew of the false invoicing scheme and failed in its duty to report it. Documents obtained by OffshoreAlert, but not cited in the suit, indicate that PwC knew of Yukos' offshore marketing structure, called "Jurby Lake," which used Menatep shell companies in Switzerland, Liberia and Dublin to sell Yukos oil.

Israel seeks evidence from Florida resident for money laundering investigation

April 30, 2005

Article based on an application to collect evidence for a criminal investigation into alleged money laundering - pursuant to a request for judicial assistance from Israel - that was filed at the U. S. District Court for the Middle District of Florida on April 22, 2005. Individuals and businesses mentioned in the request for assistance include Michael Komissarouk, Svetlana Komissarouk, Alexander Orlov, Boris Maas, Business Informational Systems Technology, Credit Lyonnais Bank, Chase Manhattan Bank, SunTrust Bank, JP Morgan Chase Bank, Bank Hapoalim, Algmine Spraksa Bank, Marina Tchefansky, E. U. Telcom Ltd., David Markish, Shimon Markish, Aron Misulovin, Igor Erlikh, Igor Pomeranets, Regina Misulovin, Lili Kagan, Emery Management Group LLC, Eitan Misulovin, United Industrial Bank, Acris Corp., Raisa Orlyk; Operation City, Samuel Adekuya; Unit Financial Management LLC, Comtel Management LLC,  Digitage LLC, Steallar Holding LLC, Morton Vista Corp., Yukhym Braverman, Hillcroft LLC, Rubicon Ltd., Shelton Investments LLC, Sentron SA, Partner Corporation, Green Line LLC, Sun Side LLC, Kamex Holdings LLC, Nurden Industries Ltd., DNI SIA, Fairnet Services Ltd., Tricolet Financial Ltd., Comtel Management Ltd. SA, Tyron Investment LLC, Rova Distribution LLC, Trust Credit, Eastern Commodities Limited, and Partner Corporation.

USA v. Gilbert A. Ziegler et al: Third Superseding Indictment

April 8, 2005

Third Superseding Indictment in USA v. Gilbert A. Ziegler, a.k.a. Van A. Brink; Rita L. Regale, a.k.a. Rita Brunges; Douglas C. Ferguson, Robert J. Skirving, and Laurent E. Barnabe, a.k.a. Larry Barnabe, at the U. S. District Court for the District of Oregon.

U. S. arrests two more suspected fraudsters in investigation of Grenada banks

March 31, 2005

Two more suspected fraudsters have been arrested in the United States in connection with the criminal activities of the First International Bank of Grenada group.Taansen Fairmont Sumeru, a.k.a. David Freeston, of Santa Barbara, California, and JeRu Harold Hall, a.k.a. Jerome

Disgraced Olympian’s ex-doctor forms Miami trust company with dubious offshore provider

March 31, 2005

A Caribbean-based doctor who supplied the steroids that led to Canadian sprinter Ben Johnson's disqualification at the 1988 Olympics has set up a Florida 'trust' company with a debt-ridden accountant who has been involved with several fraudulently-operated offshore firms over many years.Dr. George Astaphan, 58, and Malchus Irvin BonCamper, 60, who both reside in Basseterre, St. Kitts, are the only directors of Tegreman Trust (USA) Inc., which was formed in Florida on December 6, 2004.

Evergreen Security recovers $3.7 m from Bahamas bank

March 17, 2005

Failed hedge fund Evergreen Security has recovered $3.7 million from Bahamas-based Surety Bank & Trust Ltd. (in liquidation). The recovery represents funds that were allegedly stolen by Thomas Spencer and Robert Boyd, who were founders of Evergreen and shareholders of the bank.

Bahamas court makes substantial costs award against extortionist computer programmer

February 28, 2005

Computer programmer Christopher John Donnachie has been ordered to pay legal costs of $808,653 to a Bahamas banking group from which he tried to extort money. The costs against Donnachie, a British national believed to be residing in the Turks & Caicos Islands, and his Panamanian-registered firm, Pandon Technology S. A., were awarded by Bahamas Supreme Court on December 1, 2004.

US Gov’t applies to seize funds at Julius Baer (Guernsey)

January 31, 2005

The United States Government has applied to seize funds held at Bank Julius Baer in Guernsey that are believed to be the proceeds of health care fraud. A forfeiture application was filed at the U. S. District Court for the Northern District of Texas on December 10, 2004 against approximately $3.4 million of funds held in an account in the name of AsiaTrust Limited as Trustee of The Cyreal Trust (formerly known as The Big Train Irrevocable Trust) located at Bank Julius Baer & Company (Guernsey), and four associated investment portfolio accounts.

Antigua & Barbuda: Lester Bird et al

January 14, 2005

Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Antigua & Barbuda - for a criminal investigation into Lester Bryant Bird, Asot A. Michael, John E. St. Luce, Robin Yearwood, and Bruce Rappaport for suspected corruption and fraud.

Sixth person arrested in Imperial Consolidated investigation

January 5, 2005

A sixth person has been arrested in the United Kingdom as part of an investigation by the Serious Fraud Office into the Imperial Consolidated Group, which collapsed in 2002 owing approximately $400 million. Robert Statham Raven, a 44-year-old British national believed to reside in continental Europe, was arrested on Christmas Eve in Monmouthshire, Wales, where he was apparently spending the holidays.

Lawsuits filed against Horizon Bank International

December 31, 2004

Four civil lawsuits have been filed in Bermuda against Horizon Bank International, which is licensed in St. Vincent & The Grenadines. The separate actions were filed at Bermuda Supreme Court  on December 7, 2004 by FX Bridge Limited, Transworld Management Consultants Corporation, International Monetary Services Inc., and Four Square Partners Inc.

Spain: Domingo Tarruella Dalmau (New Jersey)

December 27, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Spain into Domingo Tarruella Dalmau for alleged money laundering.

Poland: Piotr Winnicki

December 22, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into Marek Grzegorz Zapalski, Piotr Jaroslaw Winnicki and Krzysztof Dlutkiewicz for alleged credit card fraud.

Fidelity Bank and Trust International Ltd. et al v. Christopher J. Donnachie, et al: Certificate of Taxation

December 1, 2004

Certificate of Taxation in Fidelity Bank and Trust International Limited and British American Card Company Limited v. Christopher J. Donnachie and Pandon Technology, SA at Bahamas Supreme Court.

UK SFO seeks evidence in Texas for investigation into alleged $240 m investment fraud

November 30, 2004

Another application for evidence has been filed in the United States as part of a criminal investigation by the Serious Fraud Office in the United Kingdom into an alleged $240 million investment fraud and money laundering. The latest application to

Peru seeks account information from Ocean Bank for corruption investigation into Alberto Fujimori

November 30, 2004

Peruvian authorities investigating alleged corruption by former President Alberto Fujimori are seeking details about an account at Ocean Bank, in Miami, Florida.The account is in the name of Detroit Diesel MTU Peru SAC, according to an application for the appointment

Dutch request evidence from Florida residents for investigation into Christina Kraanen

November 30, 2004

The Netherlands is seeking evidence from five Florida residents for a criminal investigation into suspected fraud and forgery by Christina Kraanen.Details are contained in an application for the appointment of a Commissioner to collect evidence pursuant to a request for

Former Antigua minister investigated for alleged money laundering

November 30, 2004

Antigua's former Finance Minister has taken legal action in an attempt to thwart a criminal investigation into whether he was involved in money laundering.Asot Michael and Bellwood Services SA filed a civil complaint against The Bank of Bermuda and Bermuda's Commissioner of Police at Bermuda Supreme Court on November 1, 2004.

Isle of Man regulator bans Peter Bond and other ex-Valmet staff

November 30, 2004

Four former employees of the Valmet Group, which was acquired by Bermuda-based Mutual Risk Management in 2001, have been banned from holding corporate office in the Isle of Man.The disqualifications follow proceedings brought at the local High Court of Justice by the Isle of Man Financial Supervision Commission in connection with concealing the proceeds of a U. S. fraudster.

Poland seeks evidence in North Carolina for forgery investigation

November 30, 2004

Article based on an application to collect evidence for a criminal investigation into alleged forgery - pursuant to a request for judicial assistance from Poland - that was filed at federal court in the USA on October 27, 2004. Individuals and businesses mentioned in the request for assistance include Jacek Piskulski, Maciej Jeleniewski, Ewa Winerowicz and Michal Gajewski. 

United Kingdom: Raymond Burraway

November 24, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation into Raymond Burraway in the United Kingdom for allegedly defrauding the Bank of Nova Scotia and laundering the proceeds.

USA v. Gilbert Ziegler: Government’s Response to Defendant’s Motion for Release

November 17, 2004

Government's Response to Defendant's Motion for Release in USA v. Gilbert A. Ziegler at the U. S. District Court for the District of Oregon.

Peru: Marco Antonio Ibarcena Dwozak et al

November 12, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Peru into Marco Antonio Ibarcena-Dwozak and Americo Antonio Ibarcena Amico for alleged corruption.

U.S. Bank NA v. Eel River Investment Company et al: First Amended Complaint

November 4, 2004

First Amendment Complaint in U.S. Bank N.A. v. Eel River Investment Company, Veril L. Olsen, Michael D. Ross, John E. Breazile, Michael Sullivan, Sterne Agee & Leech Inc., Eel River Acquisition Corporation, Ross Williamson & Loitz PLLC, Sendjer Shefket, of England, and Target International Funds Ltd., of England, at the U. S. District Court for the Western District of Washington.

US taxpayer decides to co-operate following contempt order

October 31, 2004

Six weeks after being hit with a $5,000 per day fine for contempt of court, suspected tax-dodger John Eulich has done a U-turn and turned over records of his Bahamas trust to the IRS.And he is attempting to obtain further records from several Isle of Man-registered entities he is believed to be associated with so that he can also turn them over to the tax agency.

Czech Republic seeks account records at Colonial Bank for securities fraud investigation

October 31, 2004

Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged securities fraud - pursuant to a request for judicial assistance from the Czech Republic - that was filed at federal court in the USA on October 19, 2004. Individuals and businesses mentioned in the request for assistance include Jiri Langer, Jiri Kerslager, Martin Zach, Petr Kaplan, Venture Group SA, Credit and Development Company AS, IFC International Financial Corporation, McPherson & Durrant Co. Ltd., Bradley and Company, Finnex Trust, Assent Inc., and Colonial Bank.

Argentina seeks account information at Banco Santander International in Miami

October 31, 2004

Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged smuggling - pursuant to a request for judicial assistance from Argentina - that was filed at federal court in the USA on September 24, 2004. Individuals and businesses mentioned in the request for assistance include Metaluz SRL, Osvaldo Antonio Soler, Maria Gomara Palencia, Nancy Graciela Soler, and Banco Santander International.

Argentina seeks account information from JPMorgan Chase for fraud investigation

October 31, 2004

Details are contained in an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Argentina - that was filed at the U. S. District Court for the Eastern District of New York on September 23, 2004. Individuals and businesses mentioned in the request for assistance include Patricia Narvaiz, International Atomic Energy Agency, and JPMorgan Chase Bank.

Former trust client sues offshore firms

October 31, 2004

The beneficiary and trustee of an offshore trust are seeking more than $1 million in damages for its alleged mismanagement by Morgan Trust (Cayman).Cheryl Tanenbaum, a resident of New York, and Mark Tanenbaum, a resident of Florida, as beneficiary and Trustee, respectively, of the Cheryl Tanenbaum Family Trust, filed a civil complaint at New York State Supreme Court on September 27, 2004.

Banca Nazionale del Lavoro S.p.A. et al v. Beacon Hill Asset Management et al: Claims

October 31, 2004

Claims by Banca Nazionale del Lavoro S.p.A. et al v. Beacon Hill Asset Management et al - October 31, 2004

Poland: Jacek Piskulski

October 27, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Poland into Jacek Piskulski, Maciej Jeleniewski, Ewa Winerowicz and Michal Gajewski for alleged bank card fraud to the detriment of Bank Pekao.

USA v. Tim Ray Sacora: Criminal Indictment

October 7, 2004

Criminal indictment by USA against Tim Ray Sacora for alleged fraud and money laundering.

United Kingdom: Shinder Gangar et al (Florida)

October 4, 2004

Application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged investment fraud and money laundering by Shinder Gangar and others.

IRS and state regulators investigate offshore ‘credit union’

September 30, 2004

The IRS and regulators in Florida are investigating a company purportedly based in St. Kitts & Nevis and its affiliates, including a credit union. Details of the IRS investigation are contained in a petition to petition to enforce summonses that was filed at the U. S. District Court for the Middle District of Florida on April 19, 2004.

Horizon Bank International has $11.9 m of assets frozen in Bermuda

September 30, 2004

A Caribbean offshore bank closely associated with the Bermuda-based Grosvenor Group has been accused of perpetrating a $20 million fraud against two of its clients. The allegation against Horizon Bank International Limited, which is licensed in St. Vincent & the Grenadines, was made in a civil complaint filed at Ontario Superior Court of Justice, in Canada.

Lithuania seeks extradition of alleged embezzler

September 30, 2004

The authorities in Lithuania are seeking the extradition of 43-year-old Lithuanian national Gintaras Petrikas for allegedly embezzling more than $10 million from a bank of which he was chairman. Details are contained in an extradition complaint that was filed at the U. S. District Court for the Central District of California on May 3, 2004.

U.S. Bank NA v. Eel River Investment Company: Complaint

September 23, 2004

Complaint for $15 million in U. S. Bank National Association, as Trustee v. Eel River Investment Company at the U. S. District Court for the Western District of Washington.

Terry Neal tries to renege on sentencing deal

August 31, 2004

Former offshore services provider Terry Neal and three co-defendants have had their sentencing delayed pending a review of a U. S. Supreme Court opinion that federal sentencing guidelines are unconstitutional.

Banc Caribe Ltd.: Section 304 Petition

August 2, 2004

Section 304 Petition for Assistance in Insolvency Proceedings in Dominica by Marcus Wide, as the Foreign Representative of Banc Caribe Ltd., at the U. S. Bankruptcy Court for the Southern District of Florida.

Poland requests evidence in Delaware for investigation into credit card fraud

July 31, 2004

Article based on an application to collect evidence for a criminal investigation into credit card fraud - pursuant to a request for judicial assistance from Poland - that was filed at federal court in the USA July 9, 2004. Individuals and businesses mentioned in the request for assistance include Marek Zapalski and First USA Bank.

Portugal seeks evidence in Texas for investigation into alleged fraud against Banco Espirito Santo

July 31, 2004

Article based on an application to collect evidence for a criminal investigation into suspected fraud - pursuant to a request for judicial assistance from Portugal - that was filed at federal court in the USA on May 17, 2004. Individuals and businesses mentioned in the request for assistance include Hassan Raef Hamze, Skyport Computers, Hanna Car Hendles GmbH, Manuel Carvalho de Sousa, Elie Hanna, Efax.com, J2 Global Communications, KBC Bank, Banco Espirito Santo, Bank Fuer Tirol Und Vorarlberg, and Bank One.

Venezuela seeks evidence from US banks for investigation into bank regulator

July 31, 2004

Article based on an application to collect evidence for a criminal investigation into alleged fraud and corruption - pursuant to a request for judicial assistance from Venezuela - that was filed at federal court in the USA on June 30, 2004. Individuals and businesses mentioned in the request for assistance include Banco Capital CA, Jose Alejandro Roja Ramirez, Banco Espirito Santo, Espirito Santo Bank, Inversiones Westfalia, Inversiones NBK, CA, Servicios CA, Inversiones 23697 CA, Waterfield Investment Inc., Consorcio Partenon, CA, Westfalia Investments, Citibank, and Fleet Bank, NA.

Bermuda regulator issues warning against apparently bogus entities

July 31, 2004

Warnings on suspect or bogus companies claiming to have ties to the Island are being posted to the website of investor watchdog, the Bermuda Monetary Authority.

Offshore credit-card holders await refunds as litigation drags on in the Bahamas

July 31, 2004

A bitter legal dispute is taking place in the Bahamas over the refunding of millions of dollars to people who held offshore credit cards issued by Leadenhall Bank & Trust Ltd. Bahamas-based Leadenhall and First Financial Caribbean Trust Company Ltd., a licensed trust company in the Turks & Caicos Islands, each claims the other holds security deposits that are owed to card-holders. 

Offshore bank paid $3 m fraudulent preference before collapse

July 24, 2004

The owner of a Hilton hotel in the Bahamas was the recipient of a $3 million fraudulent preference from a Bahamas-based offshore bank shortly before it collapsed, a court has ruled.Canadian national Ronald Hubert Kelly, a 60-year-old former Catholic priest and convicted pedophile, received the transfer from Americas International Bank on September 4, 2001.