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Category Archives: Scam
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
Madoff’s feeder funds’ liquidation procedure: important decision taken
The Joint Liquidators from KryS Global, a law firm working from four jurisdictions, including the British Virgin Islands, Cayman Islands, Bahamas and Bermuda, announced an important decision in the procedure of liquidation of the Fairfield Funds – Fairfield Sentry Ltd., … Continue reading
Businessman accused by people who say to have worked in his BVI-registered estate
The UK businessman who is accused of unfair dismissal by two of his employees believes he is being “put on trial” over his business dealings. In their claim against Kevin Cash, Francisco and Maria de Sousa, coming from Portugal, say … Continue reading
Posted in BVI Trusts, Litigation, Scam
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Madoff’s feeder fund tries to recover money
Fairfield Sentry Ltd., one of Madoff’s feeder funds that transferred US$3.2 billion to him, sued a Swiss unit of Bank Morgan Stanley AG. The US fund, which is being liquidated under the supervision of the Commercial Division of the High … Continue reading
BVI companies allegedly involved in Indian scam
According to Indian press, the person accused of the so called Satyam scam, B. Ramalinga Raju, had moved Rs 26 crore to around six companies in the British Virgin Islands. The Central Bureau of Investigation (CBI) that has found this … Continue reading
Posted in BVI Companies, Investigation, Scam
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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
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
Posted in BVI Companies, Frauds, Investigation, Offshore banks, Ponzi scheme, Scam
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Information on enormous spendings of Firepower’s director revealed
From the documents received two weeks ago concerning the failed fuel technology company Firepower Operations Pty Ltd 2004-2005 and 2005-2006 profit and loss figures, it became clear that its director Tim Johnston, who was also the director and executive chairman … Continue reading
Malaysian businessman alleged to be involved in the scam with the BVI company, his money frozen in Singapore banks
The businessman Mr Ung Yoke Hooi, who owns business dealing in scrap metal and industrial waste, was deprived of access to nearly US$500,000 in his Singapore bank accounts for almost two years. This money was frozen by authorities because of … Continue reading
Posted in BVI Companies, Investigation, Scam
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FTC Warning about the “809 phone scam†associated with BVI and other Caribbean Countries
BVI offshore business related news sources have many times discussed the so-called 809 long distance code scam (BVI), which is usually and mistakenly related to the British Virgin Islands. All the case was about people receiving urgent messages in which … Continue reading
Posted in British Virgin Islands, Frauds, Scam
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