David Struckman

The recent collapse in suspicious circumstances of four investment funds in the Cayman Islands which were established by one of the island's leading local businessmen - Naul Bodden - highlights the absurd level of secrecy that exists in all offshore financial centers that are currently or formerly UK Overseas Territories and, for that matter, the UK itself; Meanwhile, as one of Cayman's worst local company collapses was unfolding, a much-accomplished regulator who would have inspired confidence among the international community that the liquidations would be handled properly, Tim Ridley, was being replaced, effective July 27, 2008, as Chairman of the supposedly-independent Cayman Islands Monetary Authority by Carlyle McLaughlin, who is a cousin of Alden McLaughlin, a senior member of the Cayman Islands Government; Continuing on a Cayman theme, OffshoreAlert noticed that a US-based entrepreneur, Uthman Villanueva, using a business name of 'Golden Crest Consulting' a 'hotmail' email address and a PO Box mailing address in New York, NY, registered the domain name 'uglandhouse.com' as recently as June 28, 2008 - just a few weeks before the US Senate Permanent Subcommittee on Investigation was due to hold a hearing into tax avoidance and evasion in offshore financial centers; and Three founders of a fraudulent, offshore-focused outfit that was known first as the Global Prosperity Group and later as the Institute of Global Prosperity, received prison-terms for tax crimes at federal court in the USA on July 28, 2008.

One of the co-founders of the fraudulently-operated 'wealth-building' group known as Global Prosperity Group and the Institute of Global Prosperity has been convicted of tax evasion and conspiracy to defraud the United States.

A fugitive international fraudster now living in Panama tried to impress potential victims by carrying around a "brown bag of cash" to buy a yacht and other expensive items, according to a court judgment. David Struckman, co-founder of the now-defunct Global Prosperity Group, obtained the money by emptying multiple ATMs of all their cash, it was claimed. Details of Struckman's purported spending habits were disclosed during proceedings at the U. S. District Court for the District of Oklahoma. Struckman was held in default for failing to comply with court rules and, on November 10, 2004, the court issued a judgment for $4.65 million against him and two of his firms, Pinnacle Quest International Inc., of Panama, and Synergy Productions International Inc., of Missouri, which he formed after abandoning GPG.

Daniel Andersen has become the latest member of the Global Prosperity Group - which specialized in investment and tax fraud - to be convicted in the United States.Andersen, of Leominster, Massachusetts, and Oxnard, California, pleaded guilty to one count of conspiracy to defraud the United States at the U. S. District Court for the Western District of Washington on July 15, 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

Two senior members of the tax evasion/investment fraud organization known as the Global Prosperity Group and the Institute of Global Prosperity, one of whom organized a conference in Bermuda in 1998, have pleaded guilty to tax evasion in the United States. Worryingly for tens of thousands of U. S. residents who are believed to be IGP clients, Margo E. Jordan and Shoshanna B. Szuch have agreed to co-operate with investigations into others in return for leniency.

A civil complaint has been filed against a group that has made a fortune by persuading U. S. citizens they are legally not required to pay income tax and by promoting fraudulent get-rich-quick schemes at conferences in offshore centers such as Aruba, Bermuda and the Bahamas. Plaintiff David Wayne Starkey claims he followed the tax advice only to end up being sentenced to eight months in prison in August, 2000 for willful failure to file a return.

In the wake of action taken by Swiss authorities against the Zurich based Sovereign Finance Group, which is being investigated for money laundering involving Russia and the Caribbean, regulators in St. Vincent & the Grenadines are taking action against Sovereign