US couple allege fraud against offshore asset protection group
August 4, 2008
A Kentucky-based husband and wife claim they were swindled after depositing US$1.9 million in an offshore tax planning and asset protection plan involving insurance, trust, and investment-management companies in Anguilla, the Bahamas, and Nevis.
Full story >>
Jeeves Group says US judgments for $106 m are unenforceable in Liechtenstein
August 4, 2008
Default judgments totaling $106 million have been entered in the United States against offshore provider The Jeeves Group and related parties regarding an alleged tax-program-cum-Ponzi-scheme operated by one of its clients.
Full story >>
SEC investigates Stanford International Bank, issues subpoenas to former employees
August 4, 2008
For the second time in 19 years, an offshore bank controlled by Sir Allen Stanford is being investigated by regulators.
Full story >>
Pakistan national tells of ‘hell’ as an expatriate banker in Dubai
August 4, 2008
A less-than-flattering account of life as a foreigner in one of the world's fastest-growing international financial centers has been given in a civil action brought in the United States by an expatriate banker.
Full story >>
Dubious Barbados insurer sued twice in two days in US
August 4, 2008
A Barbados-licensed insurer whose dubious activities were exposed two years ago by OffshoreAlert was named as a defendant in two civil lawsuits filed over a two-day period at federal courts in the United States during July.
Full story >>
The United States continues to mop up Grenada’s offshore mess
August 4, 2008
Verlin D. Swartzendruber, 66, became the latest person suspected of perpetrating an investment fraud through a Grenada-domiciled company to appear before a federal judge in the United States.
Full story >>
New liquidators of Bear Stearns funds sue Cayman service providers, seek $1.5 b
August 4, 2008
Four individuals and companies in the Cayman Islands have been added as defendants to a civil complaint in the United States in which the liquidators of two Bear Stearns-sponsored offshore hedge funds are trying to recover $1.5 billion.
Full story >>
E-gold pleads guilty to money laundering
July 22, 2008
An Internet-based digital currency business domiciled offshore, its directors and owners and a US affiliate have pleaded guilty in the United States to charges regarding money laundering and the operation of an illegal money transmitting business.
Full story >>
US Senate Subcommittee calls for tougher anti-offshore measures
July 18, 2008
The alleged practices of two banks in Switzerland and Liechtenstein in helping United States taxpayers commit tax evasion have led to a renewed call for the U. S. Congress to pass an anti-offshore bill that is co-sponsored by presidential hopeful Barack Obama.
Full story >>
Allegations of corruption in offshore financial centers highlighted in report to Uk Gov't
July 7, 2008
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.
Full story >>
|
|
latin AmericA Round-up
August 4, 2008
BRAZIL: Brazil Chairs the FATF; HONDURAS: Silence on Public Financial Information; MEXICO: Western Union in Trouble; New Anti-Laundering Tariff; PERU: Governing APRA Under Pressure; Montesinos Admits Crimes; Protests in Lima.
Insider Talking
August 4, 2008
Police arrest trading manager following collapse of mutual fund group in the Cayman Islands, whose may be as high as $70 m; Cayman Government’s changes at CIMA do not sit well with the island’s international business community; US entrepreneur registers ‘uglandhouse.com’ and tries to sell it for $50,000; and three principals of Institute of Global Prosperity receive prison-terms in the US.
|
