Monthly Archives: February 2007

Bribery inquiry against BAE Systems expands to Czech Republic

An investigation started three years ago by the United Kingdom’s Serious Fraud Office and concerning allegations on bribery and corruption by British defence conglomerate BAE Systems, has been widened to include deals with the Czech Republic. In January the UK … Continue reading

Posted in British Virgin Islands, Corruption Scandals | Leave a comment

BVI-based Airline Company to provide aircraft for al-Qa’ida fighters’ transportation in East Africa

An airline company based in Johannesburg but registered in the British Virgin Islands has been involved in transporting al-Qa’ida recruits in Somalia, that directly challenged the interests of Western countries in East Africa. Recently published United Nations security council report … Continue reading

Posted in BVI Companies, Money Laundering | Leave a comment

BVI-registered Investment Fund sued Zambia for failing to pay a £28 million debt

An important loophole in the the international agreements specially designed to cancel the debts of  poor countries was exposed on February 15, by the decision of the UK High Court on the lawsuit between the BVI-registered investment fund and Zambia, … Continue reading

Posted in BVI Investment Funds, Litigation | Leave a comment

DayStar to restructure a $15 Million convertible note held by a BVI-based Castlerigg Master Investments

On February 7, 2007 the Nasdaq stock market has approved the request of DayStar Technologies Inc., for an exemption allowing it to make a new stock issue without shareholders’ voting. The stock issue is part of the restructuring of a … Continue reading

Posted in BVI Companies | Leave a comment

BVI the 9th in the World List of Countries with the highest prison populations

The British Virgin Islands, together with other Caribbean territories, fell within the list of countries with the highest prison populations, when compared to national populations. BVI are in the 9th place in this list, with 464 per 100 000 of … Continue reading

Posted in British Virgin Islands | Leave a comment

Online Gaming Companies to close business in the US

In September 2006 the US Congress passed a law that actually shut down online gambling, and the shares of many online gambling companies, including many based in the British Virgin Islands, fell dramatically. For example, among such BVI-based companies there … Continue reading

Posted in BVI Companies, Frauds, Litigation | Leave a comment