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Category Archives: Money Laundering
British Virgin Islands-based firm to be investigated by Indian agencies
Indian detectives found the real beneficiaries of a Rs1.25 billion (approximately $27 million) payoff that was made to a British Virgin Islands-based company Park House Holdings Limited for TV rights of the Indian Premier League (IPL) cricket series. This money … Continue reading
Posted in BVI Companies, Investigation, Money Laundering
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U.S. authorities file charges against BVI company
On Tuesday, charges were filed by the state Attorney General’s Office, Pennsilvania, against Brian J. Murray, CEO of the defunct Murray Insurance Agency and three other persons. They are alleged of insurance pyramid scheme, the accusations against them include criminal … Continue reading
Posted in Frauds, Investigation, Money Laundering, Tax avoidance, Tax fraud
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Managing director of BVI hedge funds arrested in connection with K1 Group’s probe
Two more arrests were made in connection with investigation of K1 Group’s activities. According to Dietrich Geuder, the spokesman for the Wuerzburg Prosecutors’ Office, the managing director of the British Virgin Islands-based hedge funds K1 Global Ltd. and K1 Invest … Continue reading
BVI hedge fund is to be liquidated
K1 Invest Ltd., the British Virgin Islands-based hedge fund operated by German K1 group – one of the two BVI hedge funds believed to be used in a network of investment firms to transfer the money received from reputable banks, … Continue reading
German hedge fund alleged of fraud involving BVI companies
Stefan R. Seuss, German financial manager, was arrested in his home in Miami charged of money laundering as part of global criminal investigation into the German hedge fund. The K1 Group, whose business activities became the reason of losses about … Continue reading
Bulgaria’s Overgas Inc. might hide its beneficiaries through a network of BVI entities and nominal directors
This month, after the end of the Ukrainian-Russian gas conflict, deliveries of gas were restored to Bulgaria, and Bulgarian officials announced that they would still try to remove two middleman companies - Overgas, Inc., and Wintershall Erdgas Handelshaus Zug AG … Continue reading
Island businessman guilty of £196,000 tax fraud through BVI and Guernsey trusts
After an eight-day trial at the UK Portsmouth Crown Court, an Island businessman of Sudan origin Mohamed Ahmed Elobeid is found guilty of not paying the largest part of taxes from his £400,000 profit, by setting up BVI offshore trust … Continue reading
SFO discovers links of BAE Systems to controversial businessman through another BVI company
The British defence company and arms manufacturer BAE Systems, which is under investigation in several countries for alleged bribery, using secret payments system and running the funds through the BVI offshore companies, paid at least £20mln to a company which … Continue reading
Old charges of corruption of the new Pakistani leader: Zardari involved in BVI-Liechtenstein offshore schemes
Asif Ali Zardari, the controversial politician who took over the leadership of the party of his murdered wife Benazir Bhutto, spent more than eleven years in jail, being charged with corruption. Now, when he has been elected the new president … Continue reading
Posted in Corruption Scandals, Money Laundering
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Like Siemens, Alstom gets into BVI backed Bribery Scandal
Like its German competitor Siemens, a French company Alstom Group is has purpotedly used a bribery system in order to buy contracts worldwide. However, politicians and the media in France have shielded the company. In 1998, long before the corruption … Continue reading