Category Archives: Offshore investment schemes

New US Treasury Secretary asked for tax haven problem decision

The new nominee of Trump administration for Treasury Secretary, Steve Mnuchin, was asked by Senate about his intention to close down Caribbean tax havens. Members of the US Senate requested details of how it is expected to close the tax … Continue reading

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Group arrests in Barcelona for alleged money laundering through Cyprus and BVI

During the course of an operation against foreign criminal organizations involved in money laundering, eleven people were arrested by the police of Spain in Barcelona. These people, mostly Russians and Ukrainians, allegedly channeled money from the British Virgin Islands and … Continue reading

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BVI companies allegedly involved in forex schemes

Close relative of ex-Punjab chief minister was asked to appear before the Enforcement Directorate and bring personal financial documents, in connection with probe against him for alleged forex contraventions and failure to pay taxes for foreign assets. He should explain … Continue reading

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Liquidators of Kingate funds applied to BVI High Court

The Joint Liquidators of Kingate Euro Fund, Ltd and Kingate Global Fund, Ltd, BVI-based “feeder funds” involved in Bernard Madoff scheme, applied to the High Court of the British Virgin Islands seeking a direction that documents with information regarding investor … Continue reading

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Investment fund with businesses in BVI and Hong Kong investigated by HK regulators

Hong Kong regulators have done the raid on Buttonwood Legal Capital, which is the adviser of an investment fund Centaur Litigation, and has registered businesses in the British Virgin Islands and Hong Kong. The Securities and Futures Commission served search … Continue reading

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BVI investment fund sues HSBC’s arm over Madoff Ponzi scheme

HSBC Institutional Trust Services Ireland Ltd, (HITSI), which is the Irish arm of HSBC bank, is being sued by the British Virgin Islands investment fund. Defender Ltd. has sued HITSI for about US$540 million over alleged breaches of a custodian … Continue reading

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Former stock broker concealed insider trading scheme using BVI shell company

Former stock broker Gary Yin admitted obstructing justice and laundering money for Jing Wang, former Qualcomm Executive Vice President and President of Global Business Operations. According to the plea agreement, Gary Yin assisted Jing Wang to conceal his illegal insider … Continue reading

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Australian Taxation Office investigates profit shifting to offshore structures

The Australian Taxation Office (ATO), as well as the Australian Government, is concerned about the risks and issues with the country’s tax system, and next year it is planning to focus on profit shifting, tax crime, and the misuse of … Continue reading

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Investigation of offshore world – journalist report based on the leaked information

A report was released by the International Consortium of Investigative Journalists (ICIJ), based on 2.5 million digital files, and opening the secrets of more than 120,000 offshore companies and trusts and about 130,000 individuals and agents. This leaked information includes corporate … Continue reading

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BVI company’s tax avoidance scheme turned to be useless

According to the information by HM Revenue and Customs (HMRC), a multimillion-pound tax avoidance scheme was marketed by Goldcrest Pictures Limited, incorporated in the British Virgin Islands. This is a film production company, which has financed and produced more than … Continue reading

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