Jensby reportedly sent money he earned in IT Factory and as head of JMI Invest to his own company Troya Private Equities Inc., based in the British Virgin Islands. Commenting this fact, Jensby said he had possibly been the victim of identity theft. Jensby admitted that Skat was pursuing a case against him, but would not provide any further comments. However, he could not agree with Skat’s interpretation of the issue.

According to authorities’ investigation, the alleged persons are connected to the fraud and theft of more than US$7.5 million over 1o years. They are said to have been using British Virgin Islands-registered business to hide more than US$10 million in income from Pennsylvania tax authorities.

It is said that various municipal organizations and educational institutions have become victims of the above-named persons and entities, among them the University of Scranton, Marywood University, Mount Airy Casino Resort, Phoenixville Borough and the Lackawanna County Multi-Purpose Stadium.

Last week, Russian state-owned enterprise Rosneft had to pay US$430 million to Yukos Capital, in compliance with the Dutch court’s decision.  Russian oil company had to pay this sum to the former subsidiary of Yukos after the court denied it the right to appeal the case two months ago.

The arbitration awards paid by Rosneft are related to loans Yukos Capital made to Yuganskneftegaz in 2004, which were subsequently defaulted upon.  YNG, the principal production subsidiary of Yukos Oil Company, was acquired by Rosneft in 2004.

However, Rosneft informed in a press release on its intention to get back control over the $430 million paid to Yukos Capital as a result of a long-lasting lawsuit between the companies. The state-owned company said that this sum is actually owed to companies registered in the British Virgin Islands. These companies are involved in lawsuits against Yukos Capital, and Rosneft claims its ownership over them  and their assets. Also, the company noted that Yukos Capital managers had pledged not dusburse the funds received, until final decision concerning ownership of the BVI companies.

According to Yukos Capital, the court did not recognize Rosneft’s ownership over the British Virgin Islands companies.

According to Argos, they took a commercial decision to phase out this product range, because they no longer have active working relationship with this supplier and were unaware of the suggested recent developments in this business.

The Guardian claims that the founder of the BVI company Neil Jones has “told friends he is the firm’s biggest creditor, claiming to have put about $1m (£660,000) into the business”.

Also, Interead has not filed any accounts and is being wound up following an outstanding claim from public relations advisers.

Upon getting a reply from the British Virgin Islands, CBI will decide on filing a chargesheet regarding fund diversion.

However, previously the DRC had signed contracts with two other companies to develop the blocks. After the contracts were awarded to the two new companies, one of the previous companies having contract with DRC, Tullow Oil, has not received presidential decree to begin exploration of its blocks and now is considering to start legal action.

Another company, Divine Inspiration Group (DIG), registered in South Africa, signed a competing contract for block 1 in 2008, and spent about US$4 million in signing bonuses and fees to secure the block. Andrea Brown, the executive director of DIG, said that “the developments with respect to the block 1 contract are not in line with principles of transparency and due process”. This company is going to appeal for compensation, looking forward to constructive engagement with the government on this matter.

The oil blocks have an estimated 2 billion barrels of reserves that have already been discovered. According to the DRC, exploration is to begin in the near future.

At the same time, it is reported by media that Innovative Road Solutions was registered in the BVI by a person named Jamoliddin Nuraliev.

The head of Tajikistan’s Antimonopoly Committee Amonulloh Ashur, who had  already questioned company’s right to operate the only toll road in the country, said that the most important thing is that the company did not  coordinate its pricing policy with the Committee.

In the opinion of Tajik economists, company’s registration in the BVI makes it difficult to follow its activities. Also, for some reasons the company was exempted from paying more than a dozen different taxes.

Sources said that passing the rights to the BVI company is part of a “grab-and-flip” strategy by the government, in which the rights are later sold to a third party, and insiders get profit. Highwind is mentioned in connection with an Israeli businessman Dan Gertler, who conducts business in the Congo. He is famous for his top-level government ties, and is known to control a large number of  companies.

First Quantum not only lost the project, it was also ordered to pay a US$12-billion fine by a DRC court. Investors now place almost no value on the company’s Congo assets. The Canadian company has taken the case to international arbitration court.

The documents include detailed tax advice from Ernst & Young on how the actor could minimize tax by moving tens of millions of dollars between companies and family trusts in US and Australia. The ACC alleges that Hogan’s advisers, on his behalf, “concealed relevant matters” from the Australian Tax Office, including the fact that Hogan was half-owner of the British Virgin Islands-registered offshore companies GB Film and Trelene Investments. According to the ACC, he failed to tell the taxman about a $US5 mln payment from Trelene; also, he avoided tax by failing to declare as income a $US4mln loan from GB Film. The ACC alleges that he even claimed a tax deduction on the US$910,000 in interest he paid the company.

There were some doubts about the financial backers of a US$2.5 million preferred bid approved by the Bureau for Public Enterprises (BPE) – this was five times more than some industry analysts said it was worth. This bid was done by the New Generation consortium including China Unicom, China’s second-biggest carrier, Dubai company Minerva and local firm GiCell. Another company investigated was British Virgin Islands-registered consortium Omen International – a reserved bidder with a US$956 million offer.

In case the probe of the BVI and Chinese consortia would show the two bidders were unable to stump up the funds for their offer prices. BPE spokesman Chukwuma Nwoko said that there were issues arising from both of the bidders sharing the same technical partner. 

According to some sources, there were two options in the panel’s report – the first that New Generation be allowed to pay a US$750 million deposit in the next 10 days, the second that negotiations should take place with the second and third reserve bidders (including the BVI company).