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Grenada PM lashes out after publication of bribery article

May 31, 2004
Last month's article in OffshoreAlert about an allegation that Grenada Prime Minister Keith Mitchell accepted a $500,000 bribe from German fraudster Eric Resteiner has caused uproar on the island. As news of the story began to circulate in the country,

FIBG fugitives arrested after shoot-out in Uganda

May 31, 2004
Two men who allegedly masterminded a $206 million offshore fraud and then fled to Uganda are back in the United States following a shoot-out that left a bodyguard dead.Former First International Bank of Grenada principals Van Arthur Brink, a.k.a. Gilbert Allen Ziegler, 53, and Douglas C. Ferguson, 71, were arrested by police at their residential complex in Kampala, Uganda on May 28.
marc-harris-panama

Marc Harris sentenced to 17 years in prison

May 21, 2004
Former offshore financial services provider Marc Harris was sentenced today to 17 years in prison in the United States.Harris, 39, was also fined $20.32 million, and ordered to pay restitution of $6.58 million by Judge James Cohn, sitting at the

Second ex-Grenada diplomat indicted in the United States

May 15, 2004
United States national Eric Resteiner has become the second former diplomat of scandal plagued Grenada in six months to be criminally indicted in the United States.Resteiner, once a General Ambassador for the Caribbean island, was indicted on 33 counts of

Marc Harris facing up to 19.5 years in prison

May 8, 2004
The United States Probation Service has recommended that former offshore provider Marc Harris be sentenced to between 15.66 and 19.58 years in prison.The recommendation is contained in a Pre Sentence Investigation report that will be read by U. S. federal

Global Prosperity Group principals charged with fraud

May 8, 2004
A criminal complaint was brought against three principals of a long running scam known as Global Prosperity Group and the Institute of Global Prosperity at U. S. District Court for the Western District of Washington on May 4, 2004.Defendants are

Austria requests bank records for investigation into alleged day-trading fraud

April 30, 2004
Article based on an application to collect evidence for a criminal investigation into alleged fraud - pursuant to a request for judicial assistance from Austria - that was filed at the U. S. District Court for the Southern District of Texas on April 2, 2004. Individuals and businesses mentioned in the request for assistance include Oliver Pracherstorfer, Elke Reiter, Russel La Rue, Jens Wutzke, Peter Kuss, OPCM Ltd., Worldwide Formation and Management Ltd., and JPMorgan Chase Bank.

Citco Fund Services criticized again by Lancer Receiver

April 30, 2004
Fund administrator Citco Fund Services is still "the most significant stumbling block" in the winding-up of the Lancer Group, it has been claimed.Auditor PricewaterhouseCoopers is also not being helpful, according to a report dated April 23, 2004 by SEC-appointed Receiver Marty Steinberg that was submitted to the federal court in Miami, Florida.

Atlas Financial Group KPMG sued in TCI, another suit planned for U. S.

April 30, 2004
Accounting firm KPMG is facing two multi-million dollar lawsuits over its involvement in a failed offshore investment group.The actions concern KPMG's provision of auditing and other services for the now-defunct, Turks & Caicos Islands-based Atlas Financial Group. 

Offshore fraudster Serdar Kalaycioglu jailed for 27 years

April 28, 2004
Former Canadian Space Agency engineer Serdar Kalaycioglu has been sentenced to 27 years in prison for his role in an offshore banking fraud. The sentence was delivered on April 26, 2004 by Judge Daniel Hurley at the U. S. District Court for the Southern District of Florida in West Palm Beach and is one of the longest ever handed down for an offshore-related scam.

Belgium: Didier Meimoun

April 21, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Belgium into Didier Meimoun for alleged fraud.

Matrix Investigations goes into liquidation

April 17, 2004
A company secretly controlled by British fraudsters Lincoln Fraser and Jared Brook has gone into liquidation with an estimated net deficiency of £94,614 (approximately US$170,000). Matrix International (Management) Ltd., d.b.a. Matrix Investigations, went into creditors' voluntary liquidation by way of an extraordinary resolution passed by its shareholders on April 6, 2004 - nearly 19 months after being formed on September 17, 2002.

Cayman authorities seek testimony of Cash 4 Titles criminals

April 10, 2004
The United States authorities have been asked to temporarily release four white-collar criminals from federal prisons so they can travel to the Cayman Islands to testify at a money laundering trial.They are Charles Richard Homa, 57; Michael Gause, 47; William Henry Black, 47; and James Albert Franklin, 36, who were all convicted of offenses involving a Ponzi scheme known as Cash 4 Titles.

Cayman Islands: Lewis Rowe et al

April 7, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the Cayman Islands into alleged money laundering by Lewis Rowe and Patrick Tibbetts regarding the Cash 4 Titles Ponzi scheme.

Austria: Oliver Pracherstorfer et al

April 2, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in Austria into Oliver Philipp Pracherstorfer, Elke Reiter, Russel La Rue, Jens Wutzke, Peter Kuss, OPCM Ltd. and others for alleged investment fraud based around day-trading.

US indicts another Grenada offshore banker – Richard Hinkle

March 31, 2004
Yet another operator of a Grenada licensed offshore bank has been indicted in the United States.Richard Henry Hinkle, 39, was indicted on 19 counts of fraud and 40 counts of money laundering at the U. S. District Court for the

Insider Talking: March 31, 2004

March 31, 2004
A company formed by British investment fraudsters Lincoln Fraser and Jared Brook to disrupt the administration liquidation of their failed Imperial Consolidated Group, including perpetrating an asset recovery fraud against Imperial's investors, is about to go the way of most,

Dobbins Offshore accused of defrauding investors

March 31, 2004
A hedge fund group registered in the United States and the British Virgin Islands has been accused of defrauding investors of millions of dollars.The allegations against the "Dobbins Group" were made in a lawsuit filed by the SEC at the

Arthur Andersen (Bermuda) sued for audit of telecommunications group

March 31, 2004
Arthur Andersen (Bermuda) is being sued for damages over its work for a Bermuda registered telecommunications group which filed for bankruptcy in 2002.The Andersen group earned "millions of dollars in fees" from FLAG Telecom, including $1.35 million in 2000 alone,

Group with ties to Imperial Consolidated fraudsters forms new UK-based PLC

March 31, 2004
A financial services group with close ties to fraudulently-operated Imperial Consolidated and offering similar products has formed a new public limited company in the United Kingdom.Wishsprite Plc was incorporated on September 2, 2003 - 25 days after the formation of affiliates Wishsprite Financial Services Ltd., Wishsprite Investment Services Ltd., Wishsprite Legal Services Ltd., Wishsprite Marketing Ltd., and Wishsprite UK Ltd.

UK seeks evidence in Wisconsin for investigation into attorney Kevin Dooley

March 31, 2004
Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged investment fraud - pursuant to a request for judicial assistance from the UK - that was filed under seal at federal court in the USA on December 16, 2003 and unealed on February 2, 2004. Individuals and businesses mentioned in the request for assistance include Kevin Dooley, Dooley & Co., Trevor Prider, Richard Green, Kenneth Nelson Wiseman II, Wiseman Hedge Fund, Thomas George Whitbread, Sally Johnson, Laura Fletcher, Donald Melton Sweatman, Contrast Finance Ltd., Margaret Elizabeth Silver, David Netka, Neil Roe, Grosvenor Trust, Michael Shenker, Wexford Investments Ltd., Citco Banking Corporation, Taipan Asset Management Ltd., Golconda Partners Ltd., Jamie Bond, Crompton Holdings Ltd., Clive Lincoln, Delverton Investment Ltd., Cadogan Asset Management Ltd., Julian Horwood, CFC Finance Ltd., Woodborough Corporation Ltd., Trade Direct Corp., Barony Holdings Inc., Southern Star (Suisse) FX LLC, Durazno Securities Ltd., Northridge Capital Corp., Swepstone Walsh, Wells Fargo Bank, City National Bank, Washington Mutual Bank, Fiserv Correspondent Services, Bank One, AEA Bank, Citibank, Barclays Bank, and JP Morgan Chase Bank.

UK seeks evidence in Florida for trial of suspected investment fraudsters

March 31, 2004
Article based on an application for the appointment of a Commissioner to collect evidence for a criminal investigation into alleged investment fraud - pursuant to a request for judicial assistance from the UK - that was filed at federal court in the USA on March 17, 2004. Individuals and businesses mentioned in the request for assistance include Anthony David Rich, Michael Thomas Rich, Victor Le Chenal, Nigel Sandor Allan, Michael Clark, Alan Butt, E&I International Ltd., First National Bank of Florida, Captain Steven Gunning, Seth Braiman, Global 2 You, Nick Sturghill, Sturghill Films Productions, Lloyds of London, Onno Petersen, TPP,  Quarterhorse Films Inc., and Triple A Finance.

Investors sue Lancer Group service providers for $570 m

March 18, 2004
Eighty-six investors from 19 countries who claim to have invested more than $570 million in the Lancer Offshore Group have filed a lawsuit against its directors, administrator, auditor and prime broker. The three biggest claimants are all based in Montreal, Canada: Fondation Lucie et Andre Chagnon, a charity with a claim for $100 million; Bombardier Inc., the world's biggest train maker and third largest civil aircraft manufacturer whose pension fund has a claim for $68 million; and the University of Montreal's pension fund, with a claim for $67 million.

United Kingdom: Anthony David Rich et al

March 17, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into Anthony David Rich and others for alleged fraud.

Harrington Advisory Services, SL: Public Warning

March 10, 2004
Public Warning by Spain's Comisión Nacional del Mercado de Valores against Harrington Advisory Services, S.L., whose participants were identified as Alexander Giles Martin and Richard Sinclair Pope.

United Kingdom: Roddam Quintin Twiss

March 2, 2004
Application for the appointment of a Commissioner to collect evidence for a criminal investigation in the United Kingdom into an alleged 'prime bank' fraud and theft by Roddam Quintin Twiss.

Class action lawsuit against XL Capital

February 29, 2004
XL Capital and three of its officers and directors have been named as defendants in a class action lawsuit alleging securities fraud. The complaint was filed at the U. S. District Court for the District of Connecticut on November 20, 2003 on behalf of investors who bought shares between November 1, 2001 and October 16, 2003.

Lloyd George (Bermuda) defendant in Eaton Vance class action suit

February 29, 2004
A Bermuda-registered investment firm is a defendant in a class action lawsuit filed by investors in mutual funds operated by Massachusetts-based Eaton Vance, which manages approximately $75 billion of assets. Lloyd George Investment Management (Bermuda) Ltd., which is operated from Hong Kong, was an investment adviser to Eaton Vance's funds during the class period.

UK SFO arrest five former Imperial Consolidated insiders

February 29, 2004
The United Kingdom Serious Fraud Office arrested five former insiders with the Imperial Consolidated Group during February. Lincoln Julian Fraser, 32; David Norvel Willerton, 30, who is Fraser's boyfriend; Jared Bentley Brook, 34; and one other person, believed to be a woman, were all arrested in Lincolnshire, England, on February 3, 2004. Three properties were also raided by police.

Global Dominion Fund sued by investors

February 29, 2004
Global Dominion Fund, which was part of a now-defunct Nevis-based financial services group, is being sued for fraud in the United States. GDF, an affiliate company called Hooliman Trust and their controller, C. Nolon Bush, were added as defendants on November 21, 2003 to a lawsuit filed three years earlier at the U. S. District Court for the District of Utah.

Principal of Cayman hedge fund once penalized by US securities regulator

February 29, 2004
The head of a group that established a Cayman Islands hedge fund last year was once disciplined for a securities violation in the United States, OffshoreAlert can disclose. Mark Antony Angelo, 32, President of New Jersey-based Cornell Capital Partners, was fined $500 by the Maine Securities Division in 1999 for failing to disclose the existence of seven consumer complaints against him when he was a licensed sales representative. The nature of the complaints is not public knowledge.

Search for transparency at Orbis ends with a BVI ‘paper’ company

February 29, 2004
Last month, InsideBermuda promised to make further inquiries into the ownership of Bermuda-registered Orbis Investment Management Ltd. after its management had tried to block access to its share register. Readers may recall that, when OIML eventually allowed a member of the public to inspect its register, it showed that the majority shareholder was Orbis Holdings Ltd., with 499,996 of the 500,000 issued shares, with one each held by Geoffrey Gardner, William Gray, Allan Gray and James Dorr.

Spain seeks evidence in USA for fraud investigation into CAFI Company and Port Kenny Holdings

February 29, 2004
Article based on an application to collect evidence for a criminal investigation into alleged securities fraud - pursuant to a request for judicial assistance by Spain - that was filed at federal court in the USA on February 3, 2004. Individuals and businesses mentioned in the request for assistance include CAFI Company, Port Kenny Holdings SL, IFX Ltd., Harris Trust and Savings Bank, Consultoria y Asesoria Financiera International SL, Credit Lyonnais SA, Wilfred Morgan, Sergio Ariel Lopez Crivogusov, Europa Marketing Advisory SL, Global Analysis, Alberto Ortega Diaz, Fernando Heras Castan, Pedro Llorente Malo, International On Line, Francisco Javier Munoz Ponce, David Santiago Suarez, Manuel Diez Fernandez, Ignacio Jose Correa Sureda, and Santiago Maroto Illera.

UK SFO arrests ex-head of Imperial Consolidated (Japan)

February 17, 2004
A fifth person has been arrested in the United Kingdom by police investigating the collapse of the Imperial Consolidated Group. Japanese national Masao Imadzu was picked up this morning as he attended a breakfast meeting in Lincolnshire, England with former Imperial boss Lincoln Fraser and other business associates.