Monthly Archives: January 2009

BVI hedge fund to lose over $350 mln in Madoff affair

British Virgin Islands-registered fund Auriga International Advisers has lost more than 400 mln Swiss francs ($350 mln) that were invested with the company’s main shareholder Bernard Madoff. According to the information provided by Jacques Rauber, the majority shareholder of the … Continue reading

Posted in BVI Investment Funds, BVI licenced business, Management Fraud, Offshore investment schemes, Ponzi scheme | 1 Comment

UAH 3.64 billion passed by Ukrainian entities through BVI and other offshore centres in 2008

The State Customs Service of Ukraine reported that in 2008, a total amount of UAH 3.64 billion (USD 1 – UAH 7.79) has passed through offshore jurisdictions. 262 companies from Ukraine were involved in the export transactions, and the biggest … Continue reading

Posted in British Virgin Islands, BVI Companies, Offshore tax havens, Politician Deals | Leave a comment

Subsidiaries of U.S. Corporations in BVI and other offshore jurisdictions

Many of the largest publicly traded corporations in the U.S., including major banks that now receive federal bailout money from the Government, are using subsidiaries in offshore tax havens, which let them avoid paying U.S. taxes. This information can be … Continue reading

Posted in British Virgin Islands, Offshore banks, Offshore tax havens, Tax Shelters | Leave a comment

Information on enormous spendings of Firepower’s director revealed

From the documents received two weeks ago concerning the failed fuel technology company Firepower Operations Pty Ltd 2004-2005 and 2005-2006 profit and loss figures, it became clear that its director Tim Johnston, who was also the director and executive chairman … Continue reading

Posted in BVI Companies, Investigation, Litigation, Management Fraud, Scam, Unethical business practice | Leave a comment

BVI company sues Bank Medici over investments into Ponzi scheme

BVI-registered company Repex Ventures SA filed a lawsuit in Manhattan federal court against Bank Medici AG, an Austrian private bank that was taken over by regulators. The BVI company invested $700,000 in Herald (LUX) U.S. Absolute Return Fund, which was … Continue reading

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New adjudication order from the BVI High Court in favour of Wahaha Group

The Chinese joint venture Wahaha Group, which is involved in a long-lasting dispute with Danone, announced that it has received a new adjudication order from the High Court of the British Virgin Islands. By the decision of the BVI court, … Continue reading

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The deal of Uganda Telecom with Libyan company through the BVI-based Ucom “pushed” by the Uganda President

The Finance Minister of Uganda, Dr Ezra Suruma, in the documents submitted to investigating House committee stated that country’s President Yoweri Museveni oversaw the sale of Uganda Telecom Limited’s (UTL) shares to Libya in 2006, at a price below market … Continue reading

Posted in BVI Companies, Corruption Scandals, Investigation, Politician Deals | Leave a comment

British businessman and his companies including those registered in BVI are blacklisted in US

Last month, 21 companies were blacklisted by the US President for supporting the regime of Robert Mugabe in Zimbabwe. Of these companies on the list issued by America’s Office of Foreign Assets Control (OFAC), 14 are British, two are registered … Continue reading

Posted in Blacklisted BVI Companies, BVI Companies, Unethical business practice | Leave a comment