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Letter from Bermuda: Premier survives rebellion

I delayed writing this letter in the hope that a move to oust Premier Ewart Brown as the leader of the ruling Progressive Labour Party would succeed. Unfortunately, he has survived the challenge to his authority and that is bad

Stuart Kernohan v. Stuart Jack et al: Writ of Summons

Writ of Summons in Stuart Kernohan v. Governor Stuart Jack, on behalf of the Government of the Cayman Islands; Martin Bridger, Cayman Islands Attorney General, and The Acting Commissioner of The Royal Cayman Islands Police Service at the Grand Court of the Cayman Islands.

Insider Talking: May 18, 2009

The Royal Bahamas Police Force has launched a murder investigation following the death on May 8, 2009 of Bahamas based offshore provider Hywel Jones, who had been in a coma since he was shot in the head 16 days earlier

Insider Talking: April 7, 2009

In the very first edition of OffshoreAlert in February, 1997, we referred to TCI as the "Totally Corrupt Islands" and commented that there was a presumption among knowledgeable businesspeople that TCI domiciled companies were "crooked until proven otherwise", prompting a

Insider Talking: 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

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.

Guatemala: Byron Sanchez et al(2)

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Guatemala into Byron Sanchez, a former Private Secretary of the President of the Guatemalan Congress; Jose Benvenuto Conde Fernandez and Raul Alfonso Giron Galvez for alleged fraud, embezzlement, bribery and money laundering.

Letter from Bermuda: UK report gives thumbs-down to Bermuda administration

Bermuda is Britain's largest remaining colony, and by far its richest. Embarrassed by its imperial past, the administrations of Tony Blair and Gordon Brown have done their best to ignore the colonies, except for using the Bermuda Governorship as a bribe when close parliamentary votes need a push in the Government's favour. Bermuda's governing Progressive Labour Party has enjoyed the neglect Britain has shown. The PLP would not have been able to get away with much of its agenda had a socially-conscious parent been paying attention.

Letter from Bermuda: The Keystone Cops, Colonel Klink & a looming general strike

After an exceptionally mild spring, summer heat suddenly erupted in Bermuda late in June. Almost simultaneously, the fabric of society fell apart. The prognosis for this summer and fall is at least one general strike against our supposedly labour government, with the potential for riots. And that's before the rise in gasoline prices drives our gas later this year beyond $10 a gallon, our bread beyond $8 a loaf, and our electric bills beyond our reach altogether. Change is coming to the Bermuda economy, and it's going to be ugly.

UK Gov’t Committee expresses concern over corruption and fraud in Bermuda

The United Kingdom Government has been asked to provide details of any and all steps it has taken to ensure that corruption and fraud in Bermuda is "properly investigated".The request was made in a new report on British Overseas Territories by the Foreign Affairs Committee, which is appointed by the House of Commons to examine the administration, expenditure and policy of the Foreign and Commonwealth Office and its associated agencies.

Allegations of corruption in offshore financial centers highlighted in report to UK Gov’t

A new report on British Overseas Territories by the Foreign Affairs Committee of the United Kingdom Government has highlighted evidence of corruption in the Turks and Caicos Islands, Bermuda and Anguilla. By comparison, the British Virgin Islands and the Cayman Islands emerged relatively unscathed. The Committee has recommended that the UK Government sets up a Commission of Inquiry to investigate corruption in the TCI, encourages the Anguillan government to establish an "independent inquiry" to look into corruption, and details the steps it has taken to ensure that allegations of corruption in Bermuda are "properly investigated".

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

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)

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

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.

Letter from Bermuda: The end of democracy as we know it as Premier continues to destroy Bermuda

Last month was a watershed for Bermuda. Its almost 400-year-old parliamentary democracy ended on May 23, 2008. Without regard to the islands' Constitution, Premier Dr. Ewart Brown suspended the workings of the House of Assembly and later took over the powers of the Speaker of the House. In most other countries, the abrupt cancellation of parliamentary democracy would be cause for much public concern, or at the very least discussion: here, people simply shrugged their shoulders and went back to counting their cash.

Latin America Round-Up: June 5, 2008

BOLIVIA: More Controls; COLOMBIA: Casa de Cambio Banned; COSTA RICA: Uncertain Future in the Egmont Group; HONDURAS: Hunger Strike against Corruption; MEXICO: Oil Dirty; PARAGUAY: A new era?; and VENEZUELA: Venezuela and Iran, Allies.

Bank records sought for corruption investigation into former Guatemala president

Article based on an application to collect evidence for a criminal investigation into alleged corruption by former Guatemala president Alfonso Antonio Portillo Cabrera - pursuant to two requests for judicial assistance from Guatemala - that was filed at federal court in the USA on May 23, 2008. Individuals and businesses mentioned in the request for assistance include Alfonso Antonio Portillo Cabrera, Eduardo Arevalo Lacs, Enrique Rios Sosa, Sergio Hugo Cardenas Sagastume, Maria Eugenia Padua Gonzalez, Otilia Portillo Padua, Juan Jose de Leon Piñeda, Jose Armando Llort Quiteño, Credito Hipotecario Nacional de Guatemala Bank, Salomon Abraham Molina Giron, Corporacion Financiera Americana, Confia International Corp., Corporacion Electronica de Guatemala, Banco Bilbao Vizcaya Argentina, Audi Bank, Bank UBS Luxembourg NLU, Excell Life International, The International Bank of Miami, The Oxxy Bank Ltd., Oxxy Financial Corp., The Transcom Bank Ltd., Hamilton Bank, Riggs Bank, Bibliotecas  residenciales Para La Paz, and Mario Rolando Torres Marroquin.

Guatemala: Alfonso Antonio Portillo Cabrera

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Guatemala into Alfonso Antonio Portillo Cabrera, a former President of Guatemala; Eduardo Arevalo Lacs, a former Minister of National Defense; Enrique Rios Sosa and Sergio Hugo Cardenas Sagastume, former members ofthe Department of Finances of the Guatemalan Army, and others for alleged corruption.

Letter from Bermuda: Lack of Transparency is hallmark of PLP Gov’t

One of the key promises made by the Progressive Labour Party in the 1998 General Election campaign was that, if elected, it would bring transparency to government.Thirty-five years of United Bermuda Party government had been characterised, in the minds of many, by secrecy and a lack of openness. The vow to provide transparent and accountable government struck a chord with the electorate.

Letter from Bermuda: Corrupt Gov’t v. Investigative Journalism

Dictators consider the media in their countries as either a tool or a thorn in their sides. Throughout history, repressive leaders have taken control of the media to shut down opposition and the forum they provide for public discussion. The state of a country's media is usually representative of the degree of freedom enjoyed in that country. Bermuda has a daily newspaper, a twice-weekly and a weekly newspaper, all publicly owned. It has three TV channels attached to the US networks, and a number of locally operated channels pump out music videos and travelogues. Four or five radio stations are on the air. More than a dozen magazines are published routinely, year round. A handful of Bermuda-centric books appear every year.

Letter from Bermuda: A sign of the times? Bermuda’s main insurance conference moves to Dubai

The month of March, 2008 may be viewed by history as the beginning of the demise of the Bermuda insurance market. A 60-year growth pattern, the envy of every other country in the world, is now threatened by short-sightedness and greed on the part of the Bermuda Government. Insurance executives are talking openly about "voting with their feet" as the only way of dealing with the Government's rapaciousness. If they leave, Bermuda will be up against it.Two major events marked the month. First, the World Insurance Forum, a Bermuda event since its inauguration in 1994, an event organised by Bermuda people, voted with its feet and was held in Dubai, in a tent. The Forum is a world-beating franchise that allows very senior insurance people to come together every two years to thrash out major issues. It is the insurance equivalent of the World Economic Forum, held in Davos. Attracting people to Bermuda in the spring is not a difficult task, and the Forum apparently attracted up to 750 attendees.

Latin America Round-Up: 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.

Letter from Bermuda: Bermuda re-elects Third World Gov’t

On December 18, Bermuda held its 10th general election since the introduction of party politics in the 1960s. A seven-week election campaign ended in exactly the same fashion as the previous election in 2003 had ended, with a victory by 22 seats to 14 for the Progressive Labour Party (PLP). The campaign, by Bermuda standards, was deeply unpleasant. Dr. Ewart Brown, the PLP leader, set the tone, his very first speech peppered with accusations that his opponents were "vile and vicious" and "demented deviants".

Letter from Bermuda: ‘Ewart the Arrogant’ tries to win his first General Election

How confident is our governing Progressive Labour Party that it will win the general election on December 18 of this year? So confident that it has used the campaign weeks to carry out acts of breath-taking arrogance that are unconstitutional and unethical, and maybe unlawful. Our combative leader, Dr. Ewart Brown, has chosen the campaign period to continue his harassment of our Auditor General, the constitutionally appointed arbiter of Government's financial activities. Dr. Brown has been trying to force out the longest-serving Auditor General in the Commonwealth, so that a crony of the Premier's can be appointed to the position.

Bermuda police raid office of Gov’t financial watchdog for second time

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.

BVI prepares criminal charges against IPOC, seeks to confiscate $40 m

Criminal charges are being prepared in the British Virgin Islands against a Bermuda domiciled investment fund that is suspected of being a money laundering vehicle for Russia's Telecommunications Minister, Leonid Reiman.The BVI authorities have drafted "preliminary charges" against IPOC International

Spain seeks US bank records in hunt for Pinochet’s assets

Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into money laundering - pursuant to a request for judicial assistance from Spain - that was filed federal court in the USA on October 11, 2007. Individuals and businesses mentioned in the request for assistance include Banco de Sabadell, Banco de Santander International, Banco de Chile, Augusto José Ramón Pinochet Ugarte, Daniel Lopez, John Long, Maria Lucia Hiriart Rodriguez, a.k.a. Lucia Hiriart de Pinochet; Marco Antonio Pinochet Hiriart, Maria Soleda Olave Gutierrez, Augusto Osvaldo Pinochet Hiriart, Ines Lucia Pinochet Hiriart, Hernan Ubaldo Garcia Barzelatto, Rodrigo Andres Garcia Pinochet, Walter Thieme, Maria Veronica Pinochet Hiriart, Hernan Garcia Barzelato, Julio Cesar Ponce Lerou, Daniela Veronica Ponce Pinochet, Francisca Lucia Ponce Pinochet, Jacqueline Maria Pinochet Hiriart, Ivan Noguera Phillips, Alejandro Ponce Pinochet, Guillermo Martinez, Maria Jose Martinez Pinochet, Constansa Martinez Pinochet, Jaime Amunategui, Sofia Amunategui Pinochet, Lucia Amunategui Pinochet, Oscar Custodio Aitken Lavanchy, Monica Ananias Kuncar, Jorge Juan Ballerino Sandford, Hernan Briones Gorostiaga, Axel Buchheister, Carlos Caceres Contreras, Eugenio Fernandez Castillo Cadiz, Monica Castillo Venegas, Ramon Collao Mira, Luis Cortes Villa, Guillermo Garin Aguirre, Hernan Guiloff Izikson, Ricardo Izurieta Caffarena, Mortimer Jofre, Alberto Kassis Sabag, Jose Miguel Latorre Pinochet, Juan Ricardo Mac Lean Vergara, Maria Leonor Oppermann Soza, Alfonso Marquez de la Plata Irarrazabal, Maria Veronica Molina Carrasco, Jorge Prado Aranguiz, Edgar Tatman, Gabriel Vergara Cifuentes, Abanda Finance Limited, Althorp Investment Company Limited, American Engineering, Ashburton Company Limited, Assec Mimosa, Belview Inc., Belview International Inc., Belview International SA, Belview SA, Cititrust (Bahamas) Ltd., Corwall Overseas Corps., Chile Market Investments Ltd., Eastview Finance Inc., Fundacion Pinochet, a.k.a. Fundation Pinochet; GLP Limited, Levant Management, a.k.a. Rio Investment Corporation, Intercam Turismo, Ivoryseas Marine Co. Ltd., Marchill Investments Ltda., Maxficorp., Meritor Investments Ltd., Monees, Morgreen Holding United, Redwing Holdings Incorporated, RGS Title (Trustee Account), Pulsar International, Redwind Holdings Inc., Santa Lucia Trust, Sociedad de Inversiones Belview Int SA, Sociedad de Inversiones Fermar Limitada, Tasker Investment Limited, Transamerica Merchant International, Trilateral International Trading Ltd., a.k.a. Trilateral Trading Ltd.; Trust IT-5978N, and Trust MT-4964.

British Virgin Islands: IPOC International Growth Fund Ltd. et al

Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the British Virgin Islands into IPOC International Growth Fund Ltd., Jeffrey Galmond, Michael Ludwig Rudolf North, Lapal Limited, Albany Invest Limited and Mercury Import Limited for allegedly laundering the proceeds of corruption by Russia's Minister of Telecommunications, Leonid Reiman.

Letter from Bermuda: Derrick Burgess Minister of Emigration

You can only feel sorry for Derrick Burgess, our Minister of Labour and Immigration. He's as dim as a 15 watt bulb. Limiting foreign workers to six year terms wasn't his idea. He inherited the Ministry a few months ago,
michael-creft

Offshore bank bribed regulators and Prime Minister, says ex-chief regulator

Grenada's former chief offshore regulator, Michael Creft, has admitted that the fraudulently operated First International Bank of Grenada bribed regulators and Government members, including Prime Minister Keith Mitchell. Creft has also acknowledged that he committed perjury in support of FIBG's failed

Letter from Bermuda: Ewart Brown – Man of Action (Unfortunately for Bermuda)

The danger in appointing a “man of action” to run a country is that he'll get things done, whether they need doing or not. Bermuda has a “man of action” in Premier Ewart Brown. He's starting to get things done. We don't like much of what he's doing, and we definitely don't like the way he's doing it. We think he'll do a lot worse. But we don't care, so long as our wallets are full.

Letter from Bermuda: Premier drags Bermuda into gutter

In recent weeks, our premier, Dr. Ewart Brown, has set new lows in the standards of local governance. Sleaze and anger have become his hallmarks, the abuse of power his weapon of choice. He arrests his enemies - coincidentally, he says - without charging them. He throws writs around like confetti, especially against the media, trying to delay publication of details of his alleged misconduct until he can be elected to the office he inherited last October. He accuses unknown white people of a “supremacist oligarchy” and has all but shut down the notion of justice in a country that not long ago had a proud record of integrity and stability.

Auditor-General arrested and released in Bermuda

Remarkable events are unfolding in Bermuda - home to the world's third largest insurance and reinsurance market - as the island's government seeks to cover up evidence of corruption against several senior politicians, including Premier Ewart Brown.

Letter from Bermuda: The Mismanagement of Bermuda

For four decades, the Progressive Labour Party (PLP) was in parliamentary opposition to the Government of Bermuda formed by the United Bermuda Party (UBP). During those years, what kept the PLP in opposition was the charge that its politicians would not be able to manage the economy. Not one member of the party has ever managed a successful business, including the party's current leader, Premier Dr. Ewart Brown. As a medical doctor, he could hardly go wrong financially, yet he apparently used his employees' payroll deductions to fund his medical practice until he was found out.

Grenada PM sued in US by victim of fraudster

Grenada Prime Minister Keith Mitchell is being sued in the United States by a victim of conman Eric Resteiner, from whom Mitchell allegedly accepted at least $1 million in bribes.A civil complaint was filed against Mitchell, his wife, Marietta Mitchell, and Resteiner at the U. S. District Court for the Eastern District of New York on June 11, 2007. The sole cause of action is fraudulent transfer.

Bermuda rocked by corruption allegations, followed by attempt to gag the media

Bermuda, which portrays itself to the world as the ‘clean' face of offshore finance, much to the disdain of rival jurisdictions in the Caribbean, has been rocked by evidence of corruption involving several senior politicians, including Premier Ewart Brown. The evidence was contained in a two-and-half-years-old police report into an $8 million corruption scandal at Bermuda Housing Corporation — a government-funded quango set up to build affordable housing — that was leaked to the local Mid-Ocean News newspaper, which had first exposed the scam in 2002.

Latin American Round-Up: May 14, 2007

BOLIVIA & VENEZUELA Bolivia and Venezuela shrug their shoulders Bolivia and Venezuela have shrugged off a U. S. State Department's annual report on global drug trafficking that criticizes them. In the report, Venezuela is singled out as an increasing menace.

Insider Talking: May 14, 2007

Nearly three years after obtaining a default judgment for $44,143 against St. Kitts based offshore financial services provider M. Irvin BonCamper, MBNA America Bank NA has finally collected. Attorneys for MBNA acknowledged “full and complete satisfaction” of the judgment in

Letter from Bermuda: Onward Christian bigots

A nasty little fight is brewing. In one corner is U. S. celebrity Rosie O'Donnell, and in the other … not Donald Trump, nor right-wing radio host Bill O'Reilly, with both of whom O'Donnell has feuded publicly in the past year. This time her combatant is the African Methodist Episcopal (AME) Churches of Bermuda. This spat has the potential to be far uglier than name-calling by an unpleasant woman and a man with bad hair or a radio loudmouth. The punching bag this time is Bermuda's reputation and its tourism industry.The story broke early this year. O'Donnell booked every berth on a cruise ship that will sail from New York on July 7 and call at Bermuda and the Bahamas.

Letter from Bermuda: Government curtails freedom of speech

People who visit Bermuda say that the place is 30 years behind the rest of the world. It's a natural consequence of the isolation of a small group of islands 800 miles from the US and 3,500 from Europe. When visitors comment on Bermuda's out-of-date ways, what they haven't said until now is that, in one important respect, Bermuda is like East Germany was 30 years ago.

‘Stop Tax Haven Abuse’ bill introduced by US Senators

United States presidential hopeful Barack Obama has thrown his political weight behind a comprehensive bill to clamp-down on an estimated $100 billion per year offshore tax evasion by U. S. taxpayers. The draft legislation - known as The Stop Tax Haven Abuse Act - was introduced to Congress on February 17, 2007 by Obama, fellow Democrat Senator Carl Levin, and Senator Norm Coleman, who is a Republican.

Bermuda regulator seeks to wind-up IPOC group, prompts intelligence firm to seek stay of US lawsuit

Bermuda Supreme Court has set a date of April 27th to hear an application by a local regulator to have a provisional liquidator appointed over a mutual fund group that allegedly exists to launder the proceeds of corruption by a Russian government minister. A petition to involuntarily wind-up IPOC Capital Partners Ltd., IPOC International Growth Fund Ltd., Gamma Capital Fund Ltd., Convergence Capital Ltd., Com Tel Eastern Ltd., First National Telecommunication Fund Ltd., Convergence Capital Management Ltd., Augmentation Investments Ltd., and Telco Overseas Ltd. was presented to the court on January 12, 2007 by Bermuda's Registrar of Companies.

Letter from Bermuda: New Premier answerable to no-one

A little over eight years ago, when the Progressive Labour Party took office for the first time in its 35-year history, we were promised a "new" Bermuda. It was exciting for a lot of people, especially those who had always felt that they were denied access to the halls of power. Blacks especially thought that the new millennium would bring unlimited opportunity.

Grenada sued for $21 m after defaulting on loans from Taiwan bank

The Government of Grenada has become the latest impoverished nation to suffer the economic consequences of switching diplomatic allegiances from Taiwan to China. The Export-Import Bank of The Republic of China, a Taiwan-based, state-owned specialized bank for export and import credits, is seeking the recovery of $21.6 million, plus interest at $5,761 per day, at the U. S. District Court for the Southern District of New York regarding four loans that are in default.

Letter from Bermuda: Premier works to undermine British influence

The departure from the country's top job of the hapless Alex Scott appears to have taken Independence from the UK off the agenda. Mr. Scott's replacement, Dr. Ewart Brown, has said that, while Independence remains one of his long-term goals, it will not feature high on his to-do list. But our new leader, who admitted he lied to the voters at the last general election for their own good, may not be telling the whole truth. In the first few weeks of his Premiership, Dr. Brown has begun a campaign of destabilising our Governor, the local representative of Her Majesty the Queen.

Letter from Bermuda: Gov’t shows expats who the man is [And he ain’t foreign or white!]

There is a sense among those who make laws that any problem can be solved by passing a law. There is also a sense among Bermudians that, if something is wrong, it's the fault of expatriate workers. The traditional solution is to punish the expatriate community, although they rarely have anything to do with the problem. The traditional outcome is that matters get worse for Bermudians, while expatriates do better than they did before.