Latest

ETS MIR LLC v. Petroci Holding Côte d’Ivoire: Complaint (‘Irregular Tax Situation’)

Complaint alleging "unilateral, wrongful and unlawful purported termination of two agreements between the parties, based upon a pretext of unsupported claims of 'irregular tax situation'" in ETS MIR LLC v. Petroci Holding Côte d'Ivoire, a.k.a. National Oil Company of Côte d'Ivoire, of the Ivory Coast, at the U.S. District Court for the Southern District of New York.

USA v. $2.3M: Forfeiture Complaint (Delacroix Investment Fund, ‘Argentina Capital Flight’)

Forfeiture Complaint in USA v. $2.3 million seized from Metropolitan Commercial Bank in the name of Delacroix Investment Fund, of the British Virgin Islands, which operated "as an unlicensed money transmission business to orchestrate, among other things, capital flight out of Argentina and other countries", at the U.S. District Court for the Southern District of New York.

Privilege Wealth Plc: Progress Report 2022 (£43M Insolvency)

Liquidators' Progress Report for the period from October 6th, 2021 to October 5th, 2022 for Privilege Wealth Plc, which perpetrated a £40 million-plus investment fraud before collapsing after being exposed by OffshoreAlert, filed with Companies House for England and Wales on December 1st, 2022.

Julius Baer International Ltd. et al: £18M Fine & Industry Bans

Public Notice by the United Kingdom's Financial Conduct Authority that it has imposed a fine of £18 million on Julius Baer International Limited "for failing to conduct its business with integrity, failing to take reasonable care to organise and control its affairs and failing to be open and cooperative with the FCA" and banned "Gustavo Raitzin, former Regional Head for Bank Julius Baer, Thomas Seiler, former BJB Sub-Regional (Market) Head for Russia and Eastern Europe and JBI non-executive director, and Louise Whitestone,former relationship manager on JBI’s Russian and Eastern European Desk".

Pentwater Capital Management LP v. Frank Calderoni et al: Class Action Complaint (‘Corporate Waste’)

Class Action Complaint alleging breaches of fiduciary duties and corporate waste in Pentwater Capital Management LP, on behalf of Crown Managed Accounts SPC, Investment Opportunities 3 Segregated Portfolio, Pentwater Equity Opportunities Master Fund Ltd., Pentwater Merger Arbitrage Master Fund Ltd., Pentwater Unconstrained Master Fund Ltd., and PWCM Master Fund Ltd., all of the Cayman Islands v. Frank Calderoni, Vikas Mehta, Gary Spiegel, Robert Beauchamp, Susan Bostrom, and Suresh Vasudevan at the Court of Chancery of the State of Delaware.

Pretzel Ltd. v. Pecunia Business Development Ltd. et al: Amended Complaint

Amended Complaint involving entities in the Bahamas, British Virgin Islands, Cayman Islands, and Malta in Pretzel Limited, of Malta v. Pecunia Business Development Limited, of the British Virgin Islands. and Alley Maass Rogers & Lindsay P.A., a Florida law firm, at the U.S. District Court for the Southern District of Florida.

USA v. $5.3M: Forfeiture Complaint (Konstantin Malofeyev)

Forfeiture Complaint in USA v. $5.3 million on deposit at Sunflower Bank NA in an "OFAC Blocked Account" belonging to Konstantin Malofeyev, described as a citizen of Russia who was criminally indicted at federal court in New York in April 2022 for alleged violation of the "Ukraine-Related Sanctions Regulations", at the U.S. District Court for the Southern District of New York.

Samuel Malamud Eidelman v. Truist Bank et al: Discovery Application (Peru Proceedings)

Application by Samuel Malamud Eidelman, described as a citizen of Peru, to take discovery from Truist Bank, Credit Lyonnais Miami Agency, Bank Leumi, BNP Paribas Miami Agency, Barclays, Sudameris, Banco Santander International, Grupo Santander, and Blum & Silver LLP for use in legal proceedings in Peru against Jacobo Malamud and his three daughters, Malamud Kessler, Caroline Malamud-Kessler, and Yudith Malamud Kessler de Schneider alleging money laundering and tax evasion involving, inter alia, companies in the British Virgin Islands, filed at the U.S. District Court for the Southern District of Florida.

Newpoint Financial Corp. v. Bermuda Monetary Authority et al: Complaint ($25M)

Complaint for damages of $25 million alleging "blatant, intentional bad faith malfeasance in denying Plaintiff’s Newpoint Financial Corp. application to obtain a controlling interest in a Bermudian insurance company [Citadel Reinsurance Company Limited] without any, much less good, cause" in Newpoint Financial Corp., a Delaware company based in California v. Bermuda Monetary Authority, Gerald Gakundi, described as "Director for the Insurance Supervision Department at the BMA", and Susan Davis-Crockwell, described as "Deputy Director of Enforcement for the Legal Services and Enforcement Department at the BMA", at the U.S. District Court for the Central District of California.

Louise Blouin et al v. USA: Complaint (‘Trust Fund Taxes’)

Complaint "to strike off certain Federal Tax Liens that were purportedly or attempted to be filed against property owned by Aberdeen Enterprises, Inc., a Delaware Corporation, as a result of an attempt by the Internal Revenue Service to collect on behalf of the United States certain Trust Fund Recovery Penalties, 26 U.S.C. § 6672 purportedly imposed against Louise Blouin" in Aberdeen Enterprises Inc., described as a Delaware company owned by a British Virgin Islands company, and Louise Blouin, a citizen of Canada residing in Switzerland v. USA at the U.S. District Court for the Eastern District of New York.

BlockFi Inc. et al v. Emergent Fidelity Technologies Ltd. et al: Complaint (‘Collateral Recovery’)

Complaint "to enforce the terms of a pledge agreement and to recover collateral that is property of these bankruptcy estates" in BlockFi Inc., of Delaware; BlockFi Lending LLC, of Delaware, and BlockFi International Ltd., of Bermuda v. Emergent Fidelity Technologies Ltd, of Antigua & Barbuda,. and ED&F Man Capital Markets Inc., of New York, at the U.S. Bankruptcy Court for the District of New Jersey.

USA v. Carlos Kepke: Death Notification (‘Offshore Tax Fraud’)

Minutes noting the death of the defendant, Carlos Kepke, an attorney who had been indicted for alleged tax fraud conspiracy involving accounts or companies in Belize, British Virgin Islands, Cayman Islands, Nevis, and Switzerland, in USA v. Carlos E. Kepke at the U. S. District Court for the Northern District of California.

BlockFi International Ltd.: Search Report

Search Report for BlockFi International Ltd., which continued to Bermuda from the Cayman Islands on January 21st, 2022, obtained from the Bermuda Registrar of Companies on November 28th, 2022.

BlockFi Inc. et al: Chapter 11 Petition (‘Crypto Lender’)

Chapter 11 Petition by crypto lending firms BlockFi Inc., BlockFi Wallet LLC, BlockFi Ventures LLC, BlockFi Trading LLC, BlockFi Services Inc., BlockFi Lending LLC, BlockFi Lending II LLC and BlockFi Investment Products LLC, all of Delaware, and BlockFi International Ltd., of Bermuda, at the U.S. Bankruptcy Court for the Southern District of New Jersey. In the proceedings, the group disclosed that "BlockFi Inc. has twelve wholly-owned subsidiary entities that are organized under the laws of Delaware, Bermuda, England and Wales, Cayman, and Singapore."
OffshoreAlert vGlobal 2022

Crypto recovery takes center stage at next week’s vGlobal

How to investigate crypto, find, freeze and seize assets - and have it financed by third-party litigation funders - will be tackled at next week's OffshoreAlert vGlobal virtual conference. If you've lost money in crypto, whether you're a client of Sequoia Capital or an armchair investor, you will have the opportunity to meet and listen to experts who can help you.

Jane Doe v. Deutsche Bank et al: Class Action Complaint (‘Jeffrey Epstein Sex Trafficking’)

Class Action Complaint accusing the defendant of "financially benefitting from participating in Jeffrey Epstein’s sex trafficking by providing the requisite financial support for the continued operation of Epstein’s international sex trafficking organization" in Jane Doe v. Deutsche Bank Atkiengesellschaft, Deutsche Bank AG, New York Branch, and Deutsche Bank Trust Company Americas at the U.S. District Court for the Southern District of New York.

Jane Doe v. JPMorgan Chase & Co.: Class Action Complaint (‘Jeffrey Epstein Sex Trafficking’)

Class Action Complaint accusing the defendant of "financially benefitting from participating in Jeffrey Epstein’s sex trafficking by providing the requisite financial support for the continued operation of Epstein’s international sex trafficking organization from 1998 through August 2013" in Jane Doe v. JPMorgan Chase & Co. at the U.S. District Court for the Southern District of New York.

‘New FTX CEO misrepresented our FTX crypto transfer actions,’ claims Bahamas regulator

Media Release by the Securities Commission of the Bahamas claiming that, in Chapter 11 bankruptcy filings in the U.S., "the new CEO of FTX Trading Ltd. misrepresented" the Bahamas regulator's decision "to transfer all digital assets of FTX into digital wallets under the exclusive control of the Commission for the benefit of clients and creditors of FDM [FTX Digital Markets Ltd.]".