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Entries in British Virgin Islands (12)

Thursday
Feb092017

Martin Kenney: Confiscating the proceeds of crime will make the Caribbean safer

One of the more interesting developments I discovered during the holiday period was a proposal from the Barbadian Chief Justice Minister, Sir Marston Gibson, to set up a regional asset recovery group in the Caribbean.

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Thursday
Dec012016

Martin Kenney: Let's have an honest discussion about the BVI

Transparency International’s Max Heywood recently posted an article on TI's website asking if the British Virgin Islands -- from where I operate a cross-border fraud and asset recovery law firm -- has “cleaned up” since the publication of the so-called Panama Papers.

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Tuesday
Jun212016

Analogic pays $14.8 million to resolve FCPA offenses

Massachusetts-based medical technology company Analogic Corporation and a foreign subsidiary and that unit's former CFO settled FCPA violations related to $20 million in improper payments in Russia and other countries.

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Thursday
May122016

Martin Kenney on the Panama Papers: BVI has more corporate transparency than the U.S., UK

Martin Kenney appears on CBC News on April 4In the wake of the Panama Papers revelations, the U.S. has (belatedly) announced that it will tighten checks on anonymous companies. The rules, which include requiring financial institutions to find out and keep records on the real owners behind the companies that use their services, aim to help U.S. law enforcement pierce the layers of anonymous shell companies that people can use to disguise their financial dealings around the world.

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Monday
Apr042016

2.6 terabyte leak: Panama Papers expose global abuse of anonymous shell companies 

Documents leaked Sunday from a Panama law firm showed alleged use of anonymous shell companies by world leaders, politicians and others to shield billions of dollars from public view.

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Tuesday
Mar292016

Martin Kenney: Hold on. Not everyone in the City of London (or in BVI) is bent

I can’t help thinking that Graham Vanbergen was trying to be deliberately provocative when he wrote this article on the City of London being a tax haven for the mega wealthy.

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Monday
Dec292014

Bank Leumi fined $400 million, bans former U.S. compliance chief from compliance role

Israel's Bank Leumi will pay $270 million to resolve federal charges and $130 million to settle New York regulators' allegations that it helped U.S. taxpayers hide assets and income in unreported accounts in Israel and around the world.

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Tuesday
Feb182014

Former PetroTiger co-chief pleads guilty

Image courtesy of PTS, a PetroTiger companyThe former co-chief executive officer of oil and gas services company PetroTiger Ltd. pleaded guilty Tuesday for bribing an official at Ecopetrol SA, Colombia’s state-controlled oil company, and defrauding PetroTiger by taking kickbacks.

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Wednesday
Feb052014

Italian cleaning mogul arrested for corruption

An Italian businessman who built a $350 million empire on cleaning contracts and industrial maintenance was arrested in Spain on charges embezzlement, bankruptcy fraud, money laundering, and tax offenses.

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Wednesday
Jan222014

Report details use of secretive offshore companies by China's elite

Family members of China's current and prior political leaders are using secret, offshore companies to help hide their wealth in tax havens, a new report says. And some well-known banks and accounting firms have played a significant role in helping them do it.

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Monday
Jan062014

Two oil and gas execs charged, general counsel pleads guilty

Image courtesy of PTS, a PetroTiger companyTwo former CEOs of PetroTiger Ltd., a British Virgin Islands oil and gas company with operations in Colombia and offices in New Jersey, were charged with Foreign Corrupt Practices Act-related offenses, fraud and money laundering. And the company's former general counsel pleaded guilty to bribery and fraud, the DOJ said Monday.

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Friday
Nov162012

DOJ grabs U.S. property of former Taiwan ruler

The former President of Taiwan, Shui-Bian Chen (photo courtesy of Wikipedia)A Manhattan condo and a house in Virginia together worth $2.1 million were confiscated this week from the former president of Taiwan.

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