Monthly Archives: September 2007

BVI company’s financial scam in Philippines: Senate’s inquiry on the lost millions

Financial scam, which was allegedly organized by the BVI-registered Performance Investment Products Corp. in Philippines, and started to be investigated by NBI, this month is still in the centre of public attention. The Senate Committee on Trade has conducted an … Continue reading

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BVI-based hedge fund becomes victim of US credit market crisis

Y2K Finance Inc., the flagship hedge fund of Wharton Asset Management, has announced that it will halt redemptions until at least December 2007. The fund, which is based in the British Virgin Islands and managed from Bermudas, said in its … Continue reading

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New facts about the role of BVI companies in Shin Corp’s deals

In the beginning of September, the research of the deals of BVI companies belonging to Thaksin Shinawatra, which was initiated more than a year ago,  received its continuation. Thai investigators have found that, contrary to his claim that he had … Continue reading

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Siemens’ bribery case: German prosecutors define money transfer scheme

The audit results reported in January 2007 showed once again the scale of bribery in Siemens. Investigators from the Munich public prosecutors office examined the highly confidential document from the auditing firm KPMG named “SAS 99 Audit Procedures — Summary … Continue reading

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Investigation of Siemens’ bribery case: millions of dollars moved through a network of offshore companies in BVI, Liechtenstein and Switzerland

In the end of August, the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation and the Justice Department met with the prosecutors of Munich regarding the case with the illicit slush-fund in the amount of 1.3 billion … Continue reading

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BVI Company among five companies to receive pension-fund fees

Five companies, one of which is domiciled in BVI, have now become the subject of an investigation in connection with pension-fund fees received by the top political consultant to former Albany state Comptroller Alan Hevesi. Hank Morris listed the five … Continue reading

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BVI and HK-based Companies Accused of Fraud at the High Court of Ghana

Kludjeson International Limited (KIL) has issued a legal suit at the High Court against a Hong Kong-based Hutchison Telecommunication Limited, accusing it of fraud. Hutchison Telecom supposedly holds shares in “Kasapa Telecom”. Other company involved in the suit is British … Continue reading

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