Category Archives: Management Fraud

London-listed company gets back funds from its former executives

An independent oil and gas company Afren plc, listed on the London Stock Exchange, announced that it had recovered £13 million from its two executives who were fired for unauthorized payments. This followed company’s decision to threaten them with legal … Continue reading

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High Court received application to reopen fraud case involving Celtic Energy

The rarely used procedure was applied in the case of mining company Celtic Energy, to reopen in the High Court the case closed in Cardiff Crown Court. This was done to restart the case against six lawyers and businessmen who … Continue reading

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Investigation to follow the class action lawsuit against the BVI company

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Qiao Xing Universal Resources, Inc., the company incorporated in the British Virgin Islands, and some of its officials made false and misleading statements and/or omissions violating the … Continue reading

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Two BVI companies sued in connection with misappropriation and infringement of trademarks

подаръциикона за подаръкLehmanBrown, a leading China-focused accounting, taxation and business advisory firm, is suing Edward Lehman, his wife Karolina Lehman and two of their associated companies, Union Trade Limited and/or Home & Garden Limited, both incorporated in the British Virgin … Continue reading

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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

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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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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

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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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Firepower’s director evidences at liquidators’ hearing

The director of Firepower Operations Pty Ltd, who also took the positions of the director and executive chairman of its parent company Firepower BVI, is giving his evidence at the liquidators’ hearing of the Firepower’s case. The Federal Court examination … Continue reading

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Texas businessman sues ex-partner and BVI companies controlled by him

Craig Hall, a well-known businessman from North Texas, attempts to get back more than $150 mln of the $180 mln which he has lost by loaning or investing in several natural gas partnerships. Two of the companies in which he … Continue reading

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