Monthly Archives: January 2013

BVI FSC published list of companies under enforcement action in 2012, Part III

The Commission continued to publish on its website the list of companies under enforcement action, currently for the third and fourth quarters of 2012. In Quarter 3 2012, a Warning Letter was issued to Caribbean Reinsurance Company Ltd., which failed … Continue reading

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BVI FSC issued Advisory Warning on Tifozi Investments Limited

The British Virgin Islands Financial Services Commission issued Advisory Warning No.3 of 2013 concerning the company named Tifozi Investments Limited, and operating as OptionRally, offering its products and services through its website located at www.optionrally.com. This company has been offering … Continue reading

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U.S. businessman used offshore bank accounts in BVI for tax evasion scheme

A New Jersey businessman Sanjay Sethi pleaded guilty to using hidden offshore bank accounts in various jurisdictions, including the British Virgin Islands, to defraud the U.S. According to the information filed by the U.S. government in federal district court in … Continue reading

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Advisory Warnings on Mika Holdings Inc. and Universal Investments (International) Limited

On January 7, the British Virgin Islands Financial Services Commission published Advisory Warnings on two companies. Advisory Warning No.1 of 2013 concerns the company MIKA HOLDINGS INC., which is operating at the website www.optiofair.com and offering online trading with financial … Continue reading

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Financial Services Commission issued Advisory Warning on Benson Union Limited

On the last day of 2012, the British Virgin Islands Financial Services Commission issued Advisory Warning concerning the company named Benson Union Limited. This company has been offering investment products and services, purporting to be licensed and regulated in the … Continue reading

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