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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Client’s $25 m trading loss caused collapse of financial group, says liquidator
July 2, 2008
A trading loss of $25 million by a Canadian client with a checkered past has emerged as the principal reason for the collapse of a Bahamas-based financial services group earlier this year.
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John Mathewson target of new tax investigation, accuses IRS of a “double-cross”
July 2, 2008
Former Cayman Islands-based banker John Mathewson, who infamously turned in his bank's clients to the United States Internal Revenue Service in return for leniency on tax evasion and money laundering charges in the 1990s, is the target of a new investigation into tax fraud.
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IRS seeks court permission to serve summons on Miami offices of UBS AG
July 2, 2008
The United States Government has applied to a federal court in Miami for permission to serve an Internal Revenue Service "John Doe" summons on two local offices of Swiss private bank UBS AG as part of a criminal investigation into U. S. taxpayers for tax evasion using offshore structures.
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Ex-UBS banker agrees to “co-operate fully” with IRS, faces up to 5 years in prison
July 2, 2008
Former UBS private banker Bradley Birkenfeld is due to be sentenced on August 13, 2008 after pleading guilty to one count of conspiracy to defraud the United States at the U. S. District Court for the Southern District of Florida on June 19.
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UK SEEKS EVIDENCE IN KANSAS FOR MONEY LAUNDERING INVESTIGATION INTO 'CANOE DEATH' COUPLE
August 4, 2008
The United Kingdom has requested evidence in Kansas as part of a highly-publicized criminal investigation into a financially-troubled former prison officers who allegedly faked his suicide so that his wife could collect on his life insurance policy and who was later found hiding out in Panama.
PERU REQUESTS EVIDENCE FROM SABRA INTERNATIONAL FOR MONEY LAUNDERING INVESTIGATION
August 4, 2008
Peru is seeking evidence from a Florida company as part of a criminal investigation into alleged narcotics-trafficking and money laundering.
FRANCE SEEKS EVIDENCE FROM INTERTRANSFER IN MIAMI
August 4, 2008
France has requested evidence in Florida for a criminal investigation into money laundering and unlicensed money transmitting.
COLOMBIA SEEKS EVIDENCE FROM C&C INTERNATIONAL TRADING IN MIAMI
August 4, 2008
Colombia is seeking evidence from a Florida corporation for a criminal investigation into alleged money laundering.
POLAND SEEKS EVIDENCE FROM ISPS FOR INTERNET FRAUD INVESTIGATION
August 4, 2008
Poland has requested evidence from Internet Service Providers in Florida and Virginia for a criminal investigation into alleged Internet fraud in which a fraudster accepted money for a Toyota Avensis car that was never delivered.
PARAGUAY SEEKS EVIDENCE FROM BANCO DE LA NACION ARGENTINA IN MIAMI
August 4, 2008
Paraguay is seeking information from Banco de la Nacion Argentina in Miami for a criminal investigation into alleged fraud.
CYPRUS SEEKS EVIDENCE IN US FOR ON-LINE BANK FRAUD INVESTIGATION
August 4, 2008
Cyprus is seeking evidence from two banks and an Internet Service Provider in the United States as part of a criminal investigation into alleged unauthorized transfers from an account in Cyprus via an on-line banking system.
SPAIN SEEKS EVIDENCE FROM COLONIAL BANK AND BANK OF AMERICA IN MIAMI FOR FRAUD INVESTIGATION
August 4, 2008
Spain has requested evidence from two banks in Miami as part of a criminal investigation into alleged fraud.
SWITZERLAND SEEKS EVIDENCE FROM FLORIDA FIRM FOR INVESTIGATION INTO SWISSCASH
August 4, 2008
Switzerland is seeking evidence from a company in Florida as part of a criminal investigation into alleged fraud, forgery, and money laundering.
UK SEEKS EVIDENCE FROM TWO FLORIDA BANKS FOR INVESTIGATION INTO FRAUD & MONEY LAUNDERING
August 4 , 2008
The United Kingdom has requested evidence from two banks in Kissimmee, Florida as part of a criminal investigation into fraud and money laundering.
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