Monthly Archives: October 2008

$38 mln capital disappeared from Firepower’s accounts

John Finnin, former chief executive of the failed fuel technology company Firepower Operations Pty Ltd, an Australian branch of the BVI-registered Firepower Holdings Group Ltd., has told creditors in the British Virgin Islands that a $38 mln fortune has disappeared … Continue reading

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Court freezes Alfa and Telenor shares in VimpelCom, on the claim of BVI-registered Farimex

On Monday, October 27, the Omsk Appeal Arbitration Court froze stakes in VimpelCom belonging to the largest shareholder – Telenor East Invest of Norwegian telecoms company Telenor, and Altimo, the telecoms arm of Russian tycoon Mikhail Fridman’s Alfa Group. Telenor … Continue reading

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SFO discovers links of BAE Systems to controversial businessman through another BVI company

The British defence company and arms manufacturer BAE Systems, which is under investigation in several countries for alleged bribery, using secret payments system and running the funds through the BVI offshore companies, paid at least £20mln to a company which … Continue reading

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BVI-based Platte International Ltd reached for some questionable matters

The British Virgin Islands-registered Platte International Ltd, formerly known as Micro Bill Systems (MBS), is known as a company with an unusual business model, which already seems to cause some problems to its customers in the UK. People go to … Continue reading

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Government launches investigation on the long-lasting dispute between the BVI and Bermuda-based companies

Premier and Minister of Finance Hon. Ralph T. O’ Neal, has made an announcement in the beginning of October concerning the BVI government plans to launch a transparent investigation into the issue of the disbursement of more than US$45 million … Continue reading

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Danone and KPMG accused of violation of Chinese laws

The dispute between the French Group Danone and China-based joint venture Wahaha Group which is already continuing for one-and-a-half year long has finished with Danone paying 570 million yuan to the Chinese company, and its high-profile legal actions worldwide have … Continue reading

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Investigation authorities find out BVI shell company set up by Taiwan’s former First Lady

Recently the prosecutors at Taiwan Supreme Prosecutors Office‘s Special Investigation Group (SIG), were looking into claims that former First Lady Wu Shu-jen had established a shell company in the British Virgin Islands called Armando Holding. They received information from Singapore … Continue reading

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