Category Archives: Offshore banks

Madoff’s case: BVI-registered Plaza Investments named in subpoena to UBS AG

The Swiss bank UBS AG was summoned before the court in connection with the case of Bernard Madoff. This was done by the initiative of the bankruptcy trustee Irving Picard, liquidating Bernard L.Madoff Investment Securities LLC. There were already two … Continue reading

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BVI company and Gibraltar bank sued for millions linked to Madoff case

Investors are continuing to seek for $150 million linked to Bernard Madoff. On April 9, 2009 a British Virgin Islands company and a European bank of Gibraltar were sued by a special trustee who claimed it should go to reimburse … Continue reading

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Sanctions against tax havens for hiding information on tax evaders

Offshore tax havens that refused to pass information on tax dodgers faced an unprecedented economic sanctions by the world’s most powerful countries, which will be probably agreed at the G20 summit in London in April this year. As a result … Continue reading

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BNP to lose cases against UBS over Madoff-linked funds based in BVI and Luxembourg

France’s biggest bank, BNP Paribas SA, lost two lawsuits seeking to force UBS AG to release a combined 2.5 million euros ($3.1 million) that had been invested with two funds linked to the arrested manager Bernard Madoff, who is accused … Continue reading

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Subsidiaries of U.S. Corporations in BVI and other offshore jurisdictions

Many of the largest publicly traded corporations in the U.S., including major banks that now receive federal bailout money from the Government, are using subsidiaries in offshore tax havens, which let them avoid paying U.S. taxes. This information can be … Continue reading

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BVI company sues Bank Medici over investments into Ponzi scheme

BVI-registered company Repex Ventures SA filed a lawsuit in Manhattan federal court against Bank Medici AG, an Austrian private bank that was taken over by regulators. The BVI company invested $700,000 in Herald (LUX) U.S. Absolute Return Fund, which was … Continue reading

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