Cayman Islands – Financial Treason & Crime

Time of Malta, 22 July 2021

The UK has placed Malta among the list of high-risk countries for money laundering and terrorist financing.

In regulations that came into force on July 13, the UK removed Ghana from its previous list and added, Malta, Haiti, the Philippines and South Sudan.

The other countries currently on the list are: Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Democratic People’s Republic of Korea, Iran, Jamaica, Mauritius, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Senegal, Syria, Uganda, Yemen, and Zimbabwe. Continue reading “Article: UK puts Malta on high-risk list for money laundering, terrorist financing”

07/09/2021

Article: SEC charges three people for Long Blockchain Corp insider trading

Article - Media

SEC charges three people for Long Blockchain Corp insider trading

Patrick Thompson, 09 July 2021

In December 2017, at the peak of the era that many refer to as ‘crypto mania’, New York-based beverage maker ‘Long Island Ice Tea’ changed its name to “Long Blockchain Corp. At the time of the rebrand, the beverage maker said they would transition out of manufacturing beverages and focus their efforts on blockchain technology.

After the rebrand, shares of Long Blockchain Corp rocketed upward by more than 380% intraday–unfortunately, Long Blockchain Corp never transitioned into producing blockchain technologies; which is one of the reasons that three individuals connected to the company have just been charged with insider trading related to the Long Blockchain Corp stock. Continue reading “Article: SEC charges three people for Long Blockchain Corp insider trading”

06/15/202106/17/2021

Article: Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million

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Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million

MARY DIVINE, 15 June 2021

Doug Kelley has been working since 2008 to help organizations and individuals who lost billions in the Twin Cities businessman Tom Petters’ Ponzi scheme, the biggest financial crime in Minnesota history.

The bankruptcy trustee’s search to collect assets linked to Petters’ $1.925 billion scheme spanned 26 countries, including the Cayman Islands, Luxembourg, Germany, Switzerland, the Netherlands and the British Virgin Islands.

Now, after 13 years, he says his work is almost done. Continue reading “Article: Money returned to victims of nearly $2 billion Ponzi scheme totals $722 million”

04/20/202104/21/2021

Article: Cayman Fund Seeks To Revive $2B Claim Over Madoff Losses

Article - Media, Publications

Cayman Fund Seeks To Revive $2B Claim Over Madoff Losses

Richard Crump, 20 April 2021

A Cayman Islands investment fund urged the highest court for overseas British territories on Tuesday to revive its breach of contract claim against Bank of Bermuda and an HSBC subsidiary for $2 billion in damages as the result of losses from Bernie Madoff’s massive Ponzi scheme.

Primeo Fund said the Judicial Committee of the Privy Council, which sits in London, should overturn a decision by the Court of Appeal of the Cayman Islands that the fund’s claims are barred by the reflective loss principle. That rule prevents shareholders from bringing a claim for personal losses arising from a breach of duty or contract owed to the company they have invested in. Continue reading “Article: Cayman Fund Seeks To Revive $2B Claim Over Madoff Losses”

03/24/202104/10/2021

Article: Farmmi, Inc. (FAMI)

Article - Media, Publications

Farmmi, Inc. (FAMI)

Seeking Alpha, 24 March 2021

On March 22, 2021, Farmmi, Inc., a Cayman Islands corporation (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with Aegis Capital Corp. (the “Underwriter”), pursuant to which the Company agreed to sell to the Underwriter, in a firm commitment public offering (the “Offering”), 6,469,467 ordinary shares (the “Shares”) of the Company, par value $0.001 per share for a public offering price of $1.15 per share. The Company expects to receive approximately $6.7 million in net proceeds from the Offering after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company also granted the Underwriter an option for a period of 25 days to purchase an additional 970,419 ordinary shares solely to cover over-allotments.

In connection with the closing of the Offering on March 24, 2021, the Company issued a press release titled: “Farmmi Closes $7.4 Million Underwritten Public Offering of Ordinary Shares.” A copy of the press release is furnished herewith as Exhibit 99.3.

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