Monthly Archives: May 2008

SARS is to sell shares in a BVI company, allegedly transferred to hide large amount of revenues

Businessman Dave King failed to postpone a case brought by the South African Revenue Service (SARS), for the right to sell shares in a British Virgin Island company. SARS is trying to receive back taxes allegedly owed by King, and … Continue reading

Posted in BVI Companies, BVI Trusts, Litigation, Revenue Service | Leave a comment

New scandal in Tajikistan: shooting of the ex-owner of the BVI-registered CDH Investments

On May 2, the son of the President of Tajikistan Imomali Rahmon, Rustam, reportedly shot his uncle Hassan Sadullayev. According to the report distributed by Tajikistan news website, Sadullayev was taken for medical treatment to Germany, but he died on … Continue reading

Posted in BVI Companies, Politician Deals | Leave a comment

Group of BVI Funds banned by Quebec authorities

This week, a group of offshore investment funds registered in the British Virgin Islands has received a trading ban from Quebec securities regulators, for soliciting  investors on the Internet. Bureau de décision et de révision en valeurs mobilières issued the … Continue reading

Posted in BVI Investment Funds, Offshore investment schemes | Leave a comment

BVI Court issues confiscation order in fraud case to BVI- and Bermuda-based companies

In the beginning of May, BVI court confiscated more than US$45 million from a Bermuda-based IPOC International Growth Fund Ltd.  which pleaded guilty of serious frauds. Further on, Justice ordered three other defendants – BVI-registered companies Lapal Limited, Albany Invest … Continue reading

Posted in British Virgin Islands, BVI Companies, BVI Courts, Court decisions, Frauds, Investigation | Leave a comment