August 20, 2019

Investors in Cayman Islands & Delaware funds swindled out of $2.6M, claims SEC

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From OffsioreAlert New Jersey-based investment manager Don LaGuardia has been accused of misappropriating $2.6 million from investors in his group’s Frontier Funds, which were domiciled in the Cayman Islands and Delaware. SEC v. Donald LaGuardia, Jr.: Complaint Complaint alleging fraud involving funds in Delaware and the Cayman Islands, where the group’s registered agent was Ogier Fiduciary […]

SEC asked to investigate ’corrupt’ American phone company in Guyana

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By Kathryn Myers From Florida Morning Post Pittsburgh, Pennsylvania – A civic movement headed by well-known Guyanese Writer and Businessman Dennis E. Adonis, is asking the US Senate to take a closer look at the operations of the Guyana Telephone and Telegraph Company (GTT), a telecommunications service provider that is owned by the American Company […]

US: Wilbur Ross is accused of swindling $120 million from associates

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Wilbur Ross is accused of swindling $120 million from associates and ‘could rank among the biggest grifters in American history,’ according to a bombshell Forbes report Joe Ciolli From Business Insider US Secretary of Commerce Wilbur Ross has been accused of swindling associates out of more than $120 million, according to a new bombshell report […]

US SEC files charges in busted microcap schemes include Cayman Islands broker

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Washington D.C., July 13, 2018 — The Securities and Exchange Commission has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension. According to the SEC’s complaint filed in federal court in southern California on July 6, […]

EHi comments on Cayman Islands court’s outright dismissal of Ctrip’s lawsuit and the Ctrip Consortium’s revised non-binding proposal

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PR Newswire – Sun Jul 1, 11:21PM CDT Cayman Court States Allegations in Ctrip’s Lawsuit “Unsustainable” and “Unmeritorious,” arising from “the cynical and abusive presentation of a winding-up petition” Court Further Notes That “far from seeking to advance a class remedy on behalf of shareholders, [Ctrip] was seeking to advance its own individual commercial interests” […]

ICO predictions for 2018: Big changes for utility tokens

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by HOWARD MARKS From TNW 2017 was quite a banner year for the ICO marketplace with over $6.4 billion in crypto invested in hundreds of ICOs. Some investors thought the world had gone crazy, others were saying it was just the beginning. Will ICOs announce the end of Venture Capital as we know it? Clearly […]

SEC publishes new guidance on cybersecurity disclosures and compliance practice

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By Marty Dunn, Scott Lesmes, Miriam H Wugmeister, Marty Dunn, John P Carlin From Morrison Foerster Source: ILO In an unusual step that appears to indicate renewed, if not intensified, scrutiny of public companies’ cybersecurity practices by the Securities and Exchange Commission (SEC), the SEC’s five commissioners unanimously issued guidance (the “Guidance”) on February 21, […]

Caputo concealed Cayman Island offshore firms from Argentine authorities

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By Sandra Crucianelli, Emilia Delfino y From Buenos Aires Times When Luis Caputo became Finance secretary in 2015, he failed to declare in affidavits lodged with the Anti-Corruption Office (OA) that he had shares in two companies, and that he owned an investment fund management firm based in Miami. When Finance Minister Luis Caputo became […]

CEO of alleged $600 million crypto fraud: ‘I can sleep at night knowing that I did my best’

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By Chris Mills From BGR Crypto-currencies are, to put it mildly, exploding right now. The rise of Bitcoin is thoroughly documented, but a hundred thousands other companies are piling it to get a share of the hottest thing in tech. Increasingly they’re turning to initial coin offerings (ICOs) as a way to innovate, as well […]

SEC: Bitcoin funds raise ‘Investor Protection issues’

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From Newmax The U.S. securities regulator raised alarm about the safety of bitcoin-themed investments, telling the fund industry they want answers to their concerns before endorsing more than a dozen proposed products based on cryptocurrencies. A top division chief at the U.S. Securities and Exchange Commission detailed the agency’s concerns about the wild-trading investment in […]