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FTX Recovery Trust v. AZA Finance et al: Complaint (‘$50M Fraud’)

July 1, 2025
Complaint "for the turnover of over $50 million in estate assets" in FTX Recovery Trust v. NeWurth S.A., d.b.a. AZA Finance, of Luxembourg; B Transfer Services Limited, of England; BT Payment Services Nigeria Ltd., of Nigeria; Transferzero Money Transfer EP SA, of Spain; BT Payments Services Uganda Ltd., of Uganda; Elizabeth Rossiello, Adam Gouveia, Marleen Haye, Callum Dryden, Min-Si Wang, Charlene Chen, Linda Levinson, and Tomoyuki Nii at the U.S. Bankruptcy Court for the District of Delaware.

Vestolit GmbH et al v. LexisNexis Risk Solutions Inc. et al: Discovery Application (Netherlands)

June 30, 2025
Application by Vestolit GmbH, of Germany; Celanese Europe B.V., a Dutch company based in Switzerland, and Westlake Corporation, of Delaware, USA, to take discovery from LexisNexis Risk Solutions Inc., and LNRS Data Services Inc., d.b.a. Independent Commodity Intelligence Services, for use in legal proceedings in the Netherlands "brought by Shell Chemicals Europe, B.V., a foundation, Stichting Ethylene Claims, currently representing Repsol Polímeros, Unipessoal, Lda, Repsol Química, S.A., and Repsol Trading, S.A., TotalEnergies Petrochemicals France and TotalEnergies Petrochemicals & Refining SA, and five entities of the OMV Group" alleging the "manipulation of a monthly pricing benchmark for ethylene", filed at the U.S. District Court for the Northern District of Georgia.

Directors investigated after ‘millions stripped’ from Cayman’s JBAM Global Income Fund

June 26, 2025
An Australian real estate agent - Patrick Hunt - and a Ukraine national who "is no longer contactable" after allegedly being "conscripted to the Ukrainian army" - Oleksandr Levchenko - are being investigated by the liquidators of Cayman Islands mutual fund JBAM Global Income Fund, formerly known as RAUS Capital Fund Ltd., after millions of dollars allegedly disappeared in "suspicious" circumstances.

ABC v. DEF: Heavily Redacted Discovery Application (England & Italy)

June 25, 2025
Heavily redacted discovery application for use in legal proceedings in England and Italy involving unidentified Russian and Swiss companies, "one of the largest fertilizer production and trading companies in the world", which appears to be PhosAgro PJSC; "a feliilizer production plant in Russia budgeted at Euro 1.4 billion", and the alleged failure of bond issuers to make payment after "contractors defaulted on their contractual obligations" , filed at the U.S. District Court for the Southern District of New York.

Cayman regulator closes down crypto payment processor and asset manager HAYVN

June 16, 2025
A few months after regulators in the United Arab Emirates closed down crypto payments and trading group HAYVN due to fraud, the Cayman Islands has followed suit, revoking the registrations of two of its companies, including mutual fund HAYVN Funds SPC, and two of its principals, Australian Christopher Flinos and South African Jonathan Wood.

Wellage AG: Public Warning (Switzerland)

June 12, 2025
Public Warning by the Swiss Financial Market Supervisory Authority that Wellage AG “is suspected of conducting unauthorised activities in the financial market”.

Zhanel Shayakhmetova v. Societe Generale North America: Discovery Application (England)

June 12, 2025
Application by Zhanel Shayakhmetova, described as "the daughter of the late Mr. Bagdat Shayakhmetov who was and is well known in Kazakhstan for his role as President of a company known as JSC Ust-Kamenogorsk Titanium and Magnesium Plant", to take discovery from Societe Generale North America for legal proceedings in England against Sylvain Gehler, described as a citizen of France residing in England; Specialty Metals Holding Company SA, of Belgium; New Asia Investment Group Limited, of Hong Kong; Kolus Holding AG, of Switzerland; Boulder International Investments LLC, of USA; Humber Technology Limited, of England; Specialty Metals Company SA, of Belgium; Saville Holdings Limited, of England; Strategy Associates International Inc., of Panama, and Alphen Trust Company AG, of Switzerland, regarding "Mr. Gehler’s ongoing refusal to honor her late father’s wishes to transfer her rightful inheritance to her" and involving, inter alia, "a purported British Virgin Islands trust known as the Douglas Trust", filed at the U.S. District Court for the Southern District of New York.

Zhanel Shayakhmetova v. UBS: Discovery Application (England)

June 12, 2025
Application by Zhanel Shayakhmetova, described as "the daughter of the late Mr. Bagdat Shayakhmetov who was and is well known in Kazakhstan for his role as President of a company known as JSC Ust-Kamenogorsk Titanium and Magnesium Plant", to take discovery from UBS for legal proceedings in England against Sylvain Gehler, described as a citizen of France residing in England; Specialty Metals Holding Company SA, of Belgium; New Asia Investment Group Limited, of Hong Kong; Kolus Holding AG, of Switzerland; Boulder International Investments LLC, of USA; Humber Technology Limited, of England; Specialty Metals Company SA, of Belgium; Saville Holdings Limited, of England; Strategy Associates International Inc., of Panama, and Alphen Trust Company AG, of Switzerland, regarding "Mr. Gehler’s ongoing refusal to honor her late father’s wishes to transfer her rightful inheritance to her" and involving, inter alia, "a purported British Virgin Islands trust known as the Douglas Trust", filed at the U.S. District Court for the Southern District of New York.

Singapore fund for ultra-wealthy petitions to wind up Cayman’s Ancile Fund over ‘$6.8M redemption failure’

June 4, 2025
Singapore fund Hawksburn VCC – Fishers Island Strategic Holdings, whose investors are "ultra-high net worth individuals, family offices and institutions", has petitioned to wind up Ancile Fund in the Cayman Islands, claiming it has been unable to redeem its full investment of $8.5 million for over 10 months, receiving just $1.7 million four weeks ago, leaving an outstanding balance of $6.8 million. Ancile is managed by INOKS Capital, of Switzerland.

Neogreen GmbH: Public Warning (Switzerland)

May 15, 2025
Public Warning by the Swiss Financial Market Supervisory Authority that Neogreen GmbH “is suspected of conducting unauthorised activities in the financial market”.

Li-Cycle Holdings Corp. et al: Chapter 15 Petition (Canada)

May 14, 2025
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Canada by William E. Aziz, as the Foreign Representative of Li-Cycle Holdings Corp., Li-Cycle U.S. Inc., Li-Cycle Inc., and Li-Cycle North America Hub, Inc., collectively described as "a global lithium-ion battery resource recovery company", filed at the U.S. Bankruptcy Court for the Southern District of New York.

GS Capital AG: Public Warning (Switzerland)

May 13, 2025
Public Warning by the Swiss Financial Market Supervisory Authority that GS Capital AG (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.

RTS Partners AG: Public Warning (Switzerland)

May 8, 2025
Public Warning by the Swiss Financial Market Supervisory Authority that RTS Partners AG “is suspected of conducting unauthorised activities in the financial market”.

Alkundus AG: Public Warning (Switzerland)

April 24, 2025
Public Warning by the Swiss Financial Market Supervisory Authority that Alkundus AG “is suspected of conducting unauthorised activities in the financial market”.

PSA LLC v. Jacques Attie: Discovery Application (Switzerland)

March 25, 2025
Application by PSA LLC to take discovery from Jacques Attie for use in legal proceedings in Switzerland regarding "a complex, cross-border illegal bribery and corruption scheme in relation to the Kashagan and Karachaganak [Kazakhstan] oil and gas development projects perpetrated against PSA by the defendants Messrs. Hormoz Vasfi, Simon Gabathuler, Victor Vasfi, Best Oil SA, Dragon Production Sàrl, Skema S.p.A., Tozzi Sud S.p.A., Messrs. Agostino Bianchi, and Mario Secondo Cerveglieri", filed at the U.S. District Court for the Southern District of Switzerland.

PSA LLC v. Maksat Idenov: Discovery Application (Switzerland)

March 25, 2025
Application by PSA LLC to take discovery from Maksat Idenov for use in legal proceedings in Switzerland regarding "a complex, cross-border illegal bribery and corruption scheme in relation to the Kashagan and Karachaganak [Kazakhstan] oil and gas development projects perpetrated against PSA by the defendants Messrs. Hormoz Vasfi, Simon Gabathuler, Victor Vasfi, Best Oil SA, Dragon Production Sàrl, Skema S.p.A., Tozzi Sud S.p.A., Messrs. Agostino Bianchi, and Mario Secondo Cerveglieri", filed at the U.S. District Court for the Southern District of Switzerland.

Pacific Recovery Partners LLC v. Citibank N.A. et al: Discovery Application

March 21, 2025
Application by Pacific Recovery Partners LLC to take discovery from Citibank, N.A., Deutsche Bank Trust Co. Americas, The Bank of New York Mellon, JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Barclays Bank PLC, Bank of America, N.A., HSBC Bank USA, Societe General, UBS AG, BNP Paribas, Standard Chartered, Commerzbank AG, The Bank of Nova Scotia, and The Clearing House Payment Company LLC "for use in contemplated foreign proceedings against David T. Smith" to collect on a $21 million judgment regarding "an investment fraud scheme", filed at the U.S. District Court for the Southern District of New York.

Constant Cash Yield Ltd. v. RD Legal Finance LLC et al: Second Amended Complaint (‘$6M Breach of Contract’)

March 18, 2025
Second Amended Complaint for $6 million alleging breach of fiduciary and breach of contract regarding a $2 investment in Constant Cash Yield Ltd., of the Cayman Islands whose "sole shareholder is Swiss ALP Asset Management GmbH, a citizen of Liechtenstein", which appears to be based in Switzerland v. RD Legal Finance LLC, RD Legal Finance LLC Series CCY001, and Roni Dersovits, a.k.a. Roni Dersovitz, at the U.S. District Court for the District of New Jersey.

AMJ Global Entertainment LLC v. Migom Bank Ltd. et al: Notice of Voluntary Dismissal

March 12, 2025
Notice of Voluntary Dismissal in AMJ Global Entertainment LLC v. Migom Global Corp., Migom Bank Ltd., of Dominica; Thomas A. Schaetti, Juergen Blaha, Gregory Donahue, Michael Herzer, Benno Klebl, Andrew Wordsworth, Johann Gudenus, Stephen Lendhart, and John Does 1-12 at the U.S. District Court for the Southern District of New York.

Leandro Sanchez v. Adverit International LLC et al: Discovery Application (Argentina)

March 11, 2025
Application by Leandro Sanchez, a resident of Switzerland, to take discovery from Adverit International LLC and Abitos PLLC, formerly Lopez Levi Lowenstein Glinsky, PLLC, for use in "a contemplated criminal complaint in Argentina against Applicant’s former business partner, Agustin Gau, and his associates Ignacio Acosta and Diego Maciá Cantarelli" for suspected fraud, filed at the U.S. District Court for the Southern District of Florida.

Swiss-Canadian fund manager Marc-André Pepin under criminal investigation again in Switzerland after already being convicted of forgery

February 27, 2025
Canadian-Swiss asset manager Marc-André Pépin was criminally convicted in Switzerland in 2023 for falsifying the financial statements of his failed Cayman Islands-domiciled SPI Investment Fund and is under criminal investigation again in the same country after three of the Fund's investors who invested approximately $7 million filed complaints for suspected fraud, OffshoreAlert can reveal.