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Category Archives: Frauds
Liquidators bring an action against BVI fund
The liquidators of Weavering Fund’s UK operation began a civil case in London’s High Court against Magnus Peterson, CEO of Weavering and manager of its Macro Fund. Along with other employees of the fund, he is alleged of the breach … Continue reading
Offshore Investment fund alleged of providing false information
Federal Judge has frozen the assets and suspended the operations of Cambridge investment fund, Locust Offshore Management LLC. The founder of the fund, Andrey C. Hicks, is accused of lying to investors about the existence of an operation in the … Continue reading
Madoff’s feeder funds’ liquidation procedure: important decision taken
The Joint Liquidators from KryS Global, a law firm working from four jurisdictions, including the British Virgin Islands, Cayman Islands, Bahamas and Bermuda, announced an important decision in the procedure of liquidation of the Fairfield Funds – Fairfield Sentry Ltd., … Continue reading
A-Power’s shareholders asked to move for appointment as lead plaintiff in the lawsuit
All persons or entities who purchased the securities of the British Virgin Islands-registered company A-Power Energy Generation Systems, Ltd. between March 31, 2008 and June 27, 2011, have until August 31, 2011 to move the Court to serve as Lead … Continue reading
Madoff Trustee to file new lawsuit against BVI-based feeder funds
The trustee Irving Picard, who is trying to recover money invested by victims of Madoff’s affair into his feeder funds, among which there were BVI-registered funds, was authorized by the U.S. Bankruptcy Judge to file a $975.5 million lawsuit against … Continue reading
Investigation initiated on A-Power Energy Generation systems
The Rosen Law Firm, P.A. is investigating potential securities claims against A-Power Energy Generation Systems, Ltd., the British Virgin Islands-incorporated company, providing distributed power generation systems in China. The claims resulted from allegations that the BVI company issued materially misleading financial … Continue reading
Indian-American businessman charged of concealing bank accounts in India and BVI
An American businessman of Indian origin, Vaibhav Dahake, has been charged by a federal grand jury of New Jersey of trying to conceal undeclared bank accounts in India and in the jurisdiction of the British Virgin Islands. According to the … Continue reading
Posted in BVI Companies, Frauds, Investigation, Tax avoidance, Tax fraud
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Madoff’s feeder fund tries to recover money
Fairfield Sentry Ltd., one of Madoff’s feeder funds that transferred US$3.2 billion to him, sued a Swiss unit of Bank Morgan Stanley AG. The US fund, which is being liquidated under the supervision of the Commercial Division of the High … Continue reading
SFO widens probe into Weavering Fund
UK’s Serious Fraud Office has widened its long-lasting investigation into hedge fund Weavering Capital and British Virgin Islands-registered offshore company Weavering Capital Fund Limited. The very complex investigation, which commenced more than a year ago with the liquidation of Weavering … Continue reading
Posted in Frauds, Investigation, Liquidation
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Chairman of bankrupt IT Factory charged with hiding taxes through the BVI company
Tax authority of Denmark has charged Jensby, the former board chairman of bankrupt IT Factory, as well as his wife, with tax evasion. Company’s CEO Stein Bagger fled from authorities in 2008, after it became known that the company received … Continue reading
Posted in BVI Companies, Frauds, Illegal actions, Tax avoidance
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