Greetings!
Welcome to OffshoreAlert's monthly round-up of important articles and documents regarding the offshore world.
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September 26, 2013 - The Cayman Islands Tax Information Authority acted 'unlawfully' when it provided information to the Australian Taxation Office for an investigation into suspected tax evasion, a Cayman judge has ruled.
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Cayman-based CashWiz claims Federal Express courier stole gold
September 26, 2013 - Cayman Islands-based gold dealer CashWiz has accused a Federal Express courier of stealing gold worth CI$66,447 from consignments that were delivered to metal refineries in the United States.
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September 23, 2013 - Miami-based anti-money laundering training firm ACAMS is suing a Bermuda company operated by locally-based compliance specialist Cheryl-Ann Mapp for alleged breach of intellectual property.
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September 15, 2013 - Fletcher Asset Management, which is suspected of perpetrating a fraud involving hedge funds in the Bahamas, Bermuda, British Virgin Islands, Cayman Islands and Delaware, is attempting to stymie an investigation by the U. S. Securities and Exchange Commission.
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As an investigative reporter, the easiest financial crime for me to detect is a Ponzi scheme. Any investment scheme with a performance chart that is essentially a diagonal line trending upwards with little or no meaningful variation over many months is a Ponzi scheme and, as such, doomed to failure.
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What are the practicalities, potential impact on business, and procedures currently in place for determining beneficial ownership.
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EDITOR'S PICKS: DOCUMENTS
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SEC v. Jing Wang et al: Complaint
September 23, 2013 - Complaint alleging insider trading using accounts in the British Virgin Islands in U. S. Securities and Exchange Commission v. Jing Wang and Gary Yin at the U. S. District Court for the Southern District of California.
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ACAMS v. C.A.M.S. Ltd.: Writ of Summons
September 13, 2013 - Writ of Summons in Association of Certified Anti-Money Laundering Specialists, LLC, trading as ACAMS, v. Compliance and Anti-Money Laundering Solutions Ltd., trading as C.A.M.S., at Bermuda Supreme Court.
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Partners Group Access Secondary 2008, LP et al v. Cybernaut Growth Fund L.P.: Winding-Up Order
September 10, 2013 - Winding-Up Order in Partners Group Access Secondary 2008, LP, Partners Group Access Secondary 2008, L.P., Partners Group Access 89, L.P., Partners Group Maple Leaf Secondary Fund II, L.P. Inc., Partners Group Access IV L.P. and Partners Group Global Value SICAV v. Cybernaut Growth Fund L.P. at the Grand Court of the Cayman Islands.
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Fletcher International, Ltd.: Motion to Stymie SEC Investigation
September 10, 2013 - Motion of Fletcher Asset Management, Inc. for an order enjoining the Bankruptcy Trustee of Bermuda hedge fund Fletcher International, Ltd. from producing documents to the U. S. Securities and Exchange Commission, filed at the U. S. Bankruptcy Court for the Southern District of New York.
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Italy: Global Services, Ltd. et al
September 04, 2013 - Application for the appointment of a Commissioner to collect evidence - pursuant to a request for judicial assistance from Italy - for a criminal investigation into suspected bankruptcy fraud and concealment of accounting records involving Global Services Ltd. and Diba Group Srl.
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