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Tuesday, March 31, 2020

Malta FSA cancels AIS Capital's investment license

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The Malta Financial Services Authority has cancelled the investment license of AIS Capital Management Investment Fund SICAV PLC, whose directors are Briton Paul Chandler and American/Maltese Richard Wight.


Bermuda crypto firm Arbitrade sues SION Trading for alleged fraud

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Bermuda-domiciled cryptocurrency firm Arbitrade Ltd. has filed a legal action in New York against Max Barber and his firm, SION Trading FZE, of Ras Al Khaimah, alleging fraud.


Gustavo Lopez v. Uulala Inc.: Complaint

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Complaint for non-payment of a promissory note of $700,000 regarding a dispute involving a cryptocurrency group that is domiciled in Bermuda in Gustavo Lopez, individually and on behalf of Uhhlala Holdings LLC v. Uulala Inc., of Delaware, at the Superior Court of the State of California, County of Los Angeles.


deVere & Partners Holding Ltd.: Fine

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Announcement by the Malta Financial Services Authority that it has imposed an administrative penalty of €23,000 against deVere & Partners Holding Limited for providing "insurance distribution activities" without a license. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the sole director of deVere & Partners Holding Limited is identified as Beverley Yeomans, described in filings as a citizen of Malta, and the shareholders are identified as deVere Group Limited, of Dubai, and Nigel James Green, also described as a citizen of Malta.


USA v. KBR Diensten: Forfeiture Complaint

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Complaint to seize funds at de Volksbank, in the Netherlands, in an account in the name of KBR Diensten, whose beneficiary is identified as Naim Ali Oglou, that are allegedly the proceeds of a $3.8 million "Business Email Compromise" fraud against a real estate management company in Atlanta, Georgia, in USA v. Funds at de Volksbank at the U. S. District Court for the Northern District of Georgia.


AIS Capital Management Investment Fund SICAV Plc: License Cancellation

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Announcement by the Malta Financial Services Authority that it has cancelled the collective investment scheme license of AIS Capital Management Investment Fund SICAV Plc, which is incorrectly identified in the MFSA's notice as AIS Capital Management SICAV Plc. Editor's Note: Research by OffshoreAlert showed that, in the Malta Business Registry, the company's directors are identified as Paul Simon Chandler, a citizen of the United Kingdom, and Richard Thomson Wight, a dual citizen of the United States and Malta, while previous directors were Timothy Andrew Sharman, a citizen of the United Kingdom; Noel Vella, and Benjamin Muscat, both of Malta.


Arbitrade Ltd. v. SION Trading FZE et al: Summons With Notice

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Summons With Notice regarding alleged fraud in Arbitrade Ltd., of Bermuda v. Max Barber, of Utah, and SION Trading FZE, of Ras A Khaimah, in the United Arab Emirates, at the Supreme Court of the State of New York, County of New York.


Recent:

OneWeb Global Ltd. et al: Chapter 11 Petition
Turkey: Bank of America
Germany: Trimed Technology AG
Steven Reynolds v. Binance Holdings Ltd.: Complaint
Portugal: 1&1 Ionos Inc. ('David Peterson')
Hungary: JPMorgan Chase Bank
SEC v. Todd Lahr et al: Complaint
USA v. Tareck Zaidan El Aissami Maddah et al: Fifth Superseding Indictment
USA v. Maikel Jose Moreno Perez: Criminal Complaint
USA v. Nicolas Maduro et al: Second Superseding Indictment
GW Grundbesitz AG v. A. Investments LLC et al: Complaint
Cajun Conti LLC et al v. Lloyd's Underwriters et al: Petition
Development owned by AIG CEO collapses owing $168M to Bermuda Gov't
George's Bay Ltd.: Chapter 15 Petition
Nigeria seeks US bank records for investigation into '$10B fraud by BVI shell entity'

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