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Saturday, July 04, 2009 EST

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Offshore Banking And Finance

 

Michael MisickEx-TCI Premier Michael Misick sued by victims of Ponzi scheme

June 15, 2009

Former Turks and Caicos Islands Premier Michael Misick is being sued in Fort Lauderdale by a physician who claims he was defrauded in a TCI-based get-rich-quick scheme.

Full story >>

 

Cayman resident sues Bermuda Fund auditor & administrator over Madoff losses

June 15, 2009

A Cayman Islands resident has filed a shareholders' derivative complaint in New York against a Bernard Madoff-feeder fund that is domiciled in the British Virgin Islands. The Fund's Bermuda-based administrator and auditor are also being sued.

Full story >>

 

Millennium Bank investors bring class action against JPMorgan

June 15, 2009

A class action complaint has been filed against New York-based financial services firm JPMorgan Chase & Co. on behalf of victims of a $68 million fraud allegedly perpetrated by Millennium Bank, an offshore bank that was licensed in St. Vincent and the Grenadines.

Full story >>

 

First Fidelity Group (BVI) accused of bond fraud in US

June 15, 2009

A British Virgin Islands-domiciled IBC that operated as an investment fund before being forced into liquidation last year has been accused of defrauding a California corporation, causing its collapse.

Full story >>

 

McGladrey & Pullen (Cayman) sued again over failed Lancelot Investors Fund

June 15, 2009

A second civil complaint in less than three months has been filed against Cayman Islands-based auditor McGladrey & Pullen regarding a failed offshore hedge fund.

Full story >>

 

Wells Fargo sues Walkers SPV for $3.5 m, alleges negligence in maintaining share register

June 15, 2009

Cayman Islands-based Walkers SPV Limited is being sued by Wells Fargo Bank NA, which claims that a failure to update the share register of a Special Purpose Vehicle has exposed it to damages of $3.5 million.

Full story >>

 

First Financial International Group (Cayman) sues software developer for $1 m

June 15, 2009

Cayman Islands-based First Financial International Group Ltd. is seeking more than $1 million in damages against a software developer in Oklahoma.

Full story >>

 

Fourth fraud action against Cayman-domiciled May Daisy Corp.

June 15, 2009

A fourth civil complaint in 11 months has been filed at federal court in Orlando by an investor claiming to have been defrauded in a Forex scheme operated by a Jamaican national using a Cayman Islands corporation.

Full story >>

 

Agora Group sues over TipsTrader.com

June 15, 2009

Five subsidiaries or affiliates of the Baltimore-based Agora group, which publishes investment newsletters and operates investment clubs that are pro-offshore, are suing a competitor for allegedly misappropriating their intellectual property.

Full story >>

MORE NEWS

 

latin AmericA Round-up

June 15, 2009

COLOMBIA: Espionage scandal; Authorities capture 15 rebels. COSTA RICA: Bank irregularities. GUATEMALA: Killed after revealing corruption. MEXICO: Funny suitcases and trade. PANAMA: Millionaire becomes President.

 

Insider Talking

June 15, 2009

Conman John Kaweske tries to reinvent himself in Cyberspace through false claims about his track record and a lawsuit in which former Bahamas Governor-General Sir Orville Turnquest was seeking to avoid repaying a $1.5 m loan to LaSalle Bank is dismissed in Florida.

 

 

 

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Notable References In The Media

05.05Details Emerge on Obscure Barbados Reinsurer Tied to AIG

The Wall Street Journal

 

11.04 Covering Globalization: A Handbook for Reporters Columbia University Press

 

06.04Fool Me Twice: Some suckers never get an even break. Yearning to recoup their losses, they get taken again by the same scamsters Forbes Magazine

 

03.04Crime School: Money Laundering: True Crime Meets The World Of Business And Finance

Book by Chris Mathers

 

09.03Money Laundering Backgrounder for JournalistsColumbia University Journalism Training Program

 

09.03 The Sink: Crime, Terror, and Dirty Money in the Offshore World

Book by Jeffrey Robinson (Best-selling author of 'The Laundrymen')

 

02.01 Correspondent Banking: A Gateway For Money Laundering

U. S. Senate Permanent Subcommittee on Investigations

 

01.01 Cybercrime: FANTASY ISLAND; SEMINARS PROMISING PROSPERITY

CBS News' 48 Hours