Category Archives: Illegal actions

BVI FSC published statement on Forex Place Limited

The British Virgin Islands Financial Services Commission issued public statement No. 7 of 2013 concerning Forex Place Ltd. also operating as 4XP and located at www.4xp.com. The Commission informed by this statement that Forex Place Ltd is not and has … Continue reading

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U.S. businessman used offshore bank accounts in BVI for tax evasion scheme

A New Jersey businessman Sanjay Sethi pleaded guilty to using hidden offshore bank accounts in various jurisdictions, including the British Virgin Islands, to defraud the U.S. According to the information filed by the U.S. government in federal district court in … Continue reading

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BVI companies not recognized by Latvian court as Ventbunkers shareholders

ХудожникAt the end of February, the Latvian Supreme Court Department of Civil Cases did not recognize the British Virgin Islands-incorporated offshore companies Steropes Limited and Gyges Limited as Ventbunkers shareholders, after reviewing the claim by the Dutch company Yelverton Investment … Continue reading

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BVI company involved in illegal investor’s case

Thomas Elvin, accused of depriving investors of €177,000 and operating as an illegal investor between 2003 and 2005, is said to be the head of the company called Pear Shaped Resources. This fact was claimed in court, which was told … Continue reading

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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

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Ex-UBS banker indicted for tax evasion services

икониThe U.S. Court has indicted former senior UBS private banker for selling offshore tax-evasion services to wealthy Americans. Martin Lack is a Swiss national who until 2003 oversaw UBS’s North America business for wealthy Americans placing their money in hidden … Continue reading

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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

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Satyam scam: UK and Singapore give response to CBI’s rogatory letters

The Central Bureau of Investigation (CBI) (India) has received a response from UK and Singapore authorities to the Letter of Rogatory (LOR) which concerns the so-called Satyam scam with the company Satyam Computers. According to the CBI official, who decided … Continue reading

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Two BVI companies alleged of illegal trading of distributed securities

The executive director of the British Columbia Securities Commission has alleged the two residents of the British Columbia district and two companies registered in the British Virgin Islands of contravening securities laws when they raised money from Canadian and U.S. … Continue reading

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BVI company’s CEO leaves his post after foreclosure scandal

Last week, the attorney David J. Stern has resigned as CEO of DJSP Enterprises, the publicly traded company registered in the British Virgin Islands. This came just in some weeks after he resigned from the post of BVI company’s chairman. … Continue reading

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