Offshore

Featured Offshore

Jersey jeweller jailed for more than seven years for money laundering

A Jersey jeweller has been jailed for seven and a half years for money laundering for a drug gang. Darius James Andrew Pearce, aged 49, used his business to receive cash, to buy gold which was then used to fund the importation of drugs. He had been found guilty on… Read More

Guernsey: ‘We’ll use all legal powers to stop financial criminals’

Increased powers to seize ill-gotten cash and property are being worked on, the director of Guernsey’s new Economic and Financial Crime Bureau has said. Kevin Davis, previously chief investigator for the UK Serious Fraud Office, said his new agency would use all legal remedies at its disposal as it takes… Read More

New body created to tackle financial crime in Guernsey

A new body has been set up by in Guernsey to investigate money laundering, financial crime and to recover proceeds of unlawful conduct. The Economic Financial Crime Bureau (EFCB), which has been created by the the Committee for Home Affairs, plans to use a range methods – including the law… Read More
7th June 2021
After amassing a fortune selling scrap metal in South Africa, Peter Cooper immigrated to Canada in the mid-1990s with his sons Marshall and Richard and their families. They settled in Victoria, purchased luxurious homes and became permanent residents — qualifying for Canadian health care and other social services. But that… Read More
31st May 2021
Economists, legal practitioners as well as other professionals and civil society organisations have expressed concerns over the poor management of returned looted funds, especially the money stolen by former Head of State, Gen. Sani Abacha. Disturbed by increasing wave of corruption across the country, despite the much-talked about anti-corruption campaign… Read More
24th May 2021
By Daniel Balint-Kurti and Will Jordan, OCCRP, 22 May 2021 OCCRP – The Iraq war was good to American oil baron Todd Kozel. As the country was in the midst of a full-blown insurgency in 2007, his London-listed firm Gulf Keystone signed an agreement with the government… Read More
20th May 2021
For years, ultra-wealthy Canadians — aided by high-priced accounting and tax law firms — have been setting up offshore shell companies in the Isle of Man so they can dodge taxes back home, avoid paying future creditors (such as ex-spouses) and hide their identities. Now, MPs on the House of Commons finance committee appear… Read More
14th May 2021
By Sadie Brown, OCCRP, 13 May 2021 OCCRP — Politically influential people made up a significant portion of the clients at an offshore bank in the Isle of Man, according to a Brookings Institute researcher who analyzed data from a breach published by Distributed Denial of… Read More
7th May 2021
Five years ago, tax law expert André Lareau was blocked from giving testimony before the House of Commons finance committee by a last-minute gag order preventing witnesses from talking about a prominent accounting firm’s tax avoidance scheme. Now, he has a message for the members of Parliament who are today rebooting their probe into offshore companies registered in the Isle of… Read More
29th April 2021
Victims of a massive investment fraud that operated for years out of Montreal and siphoned more than $500 million offshore are calling on federal politicians to resume an inquiry into Canadian shell companies set up in the Isle of Man, a popular tax haven used by global accounting firms. “On… Read More
26th April 2021
Standard Chartered failed adequately to check whether assets owned by some of its Indonesian clients were linked to crime or tax evasion, Guernsey’s financial regulator said yesterday. The Guernsey Financial Services Commission said that it had found “serious” breaches of financial rules. Standard Chartered, based in London, was created by… Read More
20th April 2021
The risk of Jersey’s finance industry and non-profit organisations (NPOs) being used to fund terrorism has been classed as medium to low. It is the conclusion of a risk assessment report produced in response to requirements by the Financial Action Task Force (FATF), which sets the international standards on financial… Read More
5th March 2021
By Will Fitzgibbon, ICIJ, 4 March 2021 ICIJ — A court in the Channel Islands has fined a team of accountants and economists who for years ignored “obvious” risks of possible corruption and embezzlement when providing services to an investment management company working with the government… Read More