Monthly Archives: December 2006

FTC files suit against Las Vegas online payment processing company registered in the BVI

InterBill Ltd., a company domiciled in the British Virgin Islands and operating in Las Vegas, is accused of fraudulently debiting funds from thousands of consumers’ bank accounts. Last week the Federal Trade Commission filed suit against the BVI company, for … Continue reading

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The amount of £1bn secretly passed through two anonymous BVI Companies

When the Serious Fraud Office has started its two-year corruption inquiry into BAE Systems, nobody could know that the money trail would be much more sizeable, and would lead much further. The initial investigation concerned only the allegations of a … Continue reading

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BVI company with largest 21th century diamond

In the previous blog it was mentioned that the BVI-domiciled company Gem Diamond Mining Company of Africa Limited is in the list of companies involved in legal proceeding with Letseng Diamonds. However, there are more positive news concerning these companies. … Continue reading

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BVI Company involved in the litigation between the Letseng Diamonds and JCI

The company Letseng Diamonds (also known as Letseng Guernsey) was formed to exploit diamond mine at Letseng, South Africa, which has very mixed and turbulent history , including abandonment by two big mining companies – RTZ (Rio Tinto) and De … Continue reading

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BVI Company’s assets frozen by the US Treasury Department

BVI company MLA Investments Inc. was recently identified as one of five entities which form part of the financial network controlled by the powerful Colombian drug cartel North Valle and its leaders Raul Grajales and Beto Renteria. The press release … Continue reading

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Moscow’s Court examines claim from BVI company

Moscow’s Arbitration Court will examine claims against Russian oil giant Yukos that were submitted by several companies and the Federal Bailiff Service of Russia. The companies submitted claims worth approximately USD 7.54 billion for putting them on Yukos’s creditors’ list. … Continue reading

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Cushnie pays compensation

Former chairman and chief executive of the Versailles Group and a British national, Carlton Cushnie, who was convicted of defrauding investors in Versailles Traders Ltd and Trading Partners Ltd (BVI) in 2004, has paid over GBP 10 million in compansation … Continue reading

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Party lenders want their millions back

On November 28, 2006, the financial challenges facing Labour before the May elections were revealed when it was disclosured that the party must return almost GBP 17 million of debts within just a year. About GBP 5.5 million of loans … Continue reading

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Nam Tai Electronics, Inc. court judgement

On November 28, 2006, Nam Tai Electronics, Inc. announced that the Lords of the Judicial Committee of the Privy Council of the UK rendered a judgment on November 20, 2006 as well as declared that the redemptions by Nam Tai … Continue reading

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BVI companies might have been related to bribery at Siemens AG

German law enforcement investigators dealing with alleged bribery activity by Siemens AG employees come to the conclusion that so-called “letterbox companies” in the BVI and the USA might have had connections to the case. As far as the New York … Continue reading

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