'Following the money' requires access to electronic funds credit and debit advices, checks and other payment records. Without these records, victims of fraud can be deprived of justice. Their suppression or destruction can demolish any meaningful chance that a victim might have to obtain restorative civil justice.

What do banks do when they are served with a subpoena? Do they lie and suppress records? Or do they have systemic policies in place intended to suppress the truth? If a bank may be sued for facilitating a fraud, why do banks take the position that their AML compliance records are not discoverable?

These and other controversial questions will be debated by this panel.

Document retention rules – internal and external to a bank.
What do fraud investigators do if the bank says that it destroys all records within a finite period of time as permitted by local banking regulations?
Do banks preserve data offsite for disaster storage purposes notwithstanding what they tell fraud investigators?
The use of expert reports to establish what backup systems preserve in contrast to what they disclose.


Martin Kenney
Managing Partner, Martin Kenney & Co., Solicitors (BVI)

Arnoldo Lacayo
Shareholder, Astigarraga Davis (Miami)

2:30 PM - 3:30 PM, May 06, 2014

In the war on fraudsters, the battle is increasingly between fraud-busters themselves and not with the fraudster. Leading the charge against a fraudster can often land you in an unexpected battle with judges, government agencies, liquidators, receivers and others, some even being fraudster-friendly … and at this point, the fraudster is usually the victor!

This panel will look at recent cases and trends, especially those related to battles between on-shore and offshore interests, and will show how the truly smart fraudsters are using this clash as a tool to further frustrate recovery.


Neal Levin
Partner, Freeborn & Peters (Chicago)

Paul Dennis QC
Partner, O'Neal Webster (BVI)

Nicholas Fox
Managing Associate, Mourant Ozannes (Cayman Islands)

Hugh Dickson
Partner, Grant Thornton (Cayman Islands)

4:30 PM - 5:30 PM, May 05, 2014

This session will look at how offshore jurisdictions compare in terms of banking secrecy, recording of beneficial ownership registries for trusts, foundations, and companies, availability to the public of corporate share registers and accounts, anti-money laundering, tax information exchange, international judicial co-operation, and other areas.


Andres Knobel
Consultant, Tax Justice Network (Argentina)

1:30 PM - 2:30 PM, May 06, 2014

Commercial Court Judges in key Offshore Financial Centers discuss laws and rulings affecting international business disputes that come before their courts.


Edward Davis, Jr.
Founding Shareholder, Sequor Law (Miami)

Edward Bannister QC
Retired Judge, British Virgin Islands Commercial Court (London)

Neville Adderley
Justice of Appeal, The Bahamas Court of Appeal (Bahamas)

Ian Kawaley
Chief Justice, Bermuda (Bermuda)

11:00 AM - 12:30 PM, May 05, 2014

What began as an investigation into suspected corruption between a police officer and a local newspaper quickly spiraled out of control as the Police Commissioner was suspended and fired, a judge arrested and then awarded substantial damages for wrongful arrest, an attorney disbarred and then re-instated, and many millions of dollars of public funds squandered in what is universally perceived as a national embarrassment.

In this session, panelists with direct knowledge of 'Operation Tempura' will discuss the investigation, seek to explain why it experienced so many problems and offer their views on what it says about the Cayman Islands and its relationship with the United Kingdom.


Brent Fuller
Photo-Journalist, Cayman Free Press (Cayman Islands)

Dan Duguay
Former Auditor General of the Cayman Islands (Canada)

John Evans
Former Covert Participating Informant, Operation Tempura (London)Martin Bridger

Martin Bridger
Former Senior Investigator, Operation Tempura (London)

11:00 AM - 12:15 PM, May 06, 2014

Since the advent of the credit crisis, offshore funds have taken ever greater advantage of the benefits of US litigation. These include the relaxed pleading standards in comparison to Commonwealth jurisdictions, the benefits of the liberal discovery system in the US, reduced legal fees as reflected both in the lower nominal rates when compared to QCs, as well as the lower preparation costs compared to UK style litigation, and the enhanced leverage for settlements stemming from the "American Rule" that each party bears their own costs regardless of outcome.

Specifically, onshore litigation has become the favored tool of many offshore liquidators seeking to bring claims against former fund managers, litigate fraud and negligence claims against third-party professionals, seek clawbacks from LP investors, or simply use the US as a favorable litigation forum for international claims when funds have passed through the US financial system.

In this session, the following topics will be covered:

Jurisdiction and choice of law issues for offshore funds litigating in the US;
Claims available to offshore funds for use against third-parties;
Avoidance of the In Pari Delicto doctrine;
When to seek Chapter 15 status;
The costs and benefits of bankruptcy protection;
Section 1782 Petitions for discovery; and
Enforcement and execution of judgments in the US.


Jonathan Sablone
Partner, Nixon Peabody (New York)

Colette Wilkins
Partner, Walkers (Cayman Islands)

3:00 PM - 4:00 PM, May 05, 2014

Since 1999, the IRS and the Department of Justice have conducted an unprecedented and highly successful campaign against offshore tax evasion and the banks, lawyers and financial service providers that facilitate it. Once impenetrable Swiss bank secrecy laws have been compromised, exclusive and elite private banks have closed, seemingly invulnerable private bankers have been arrested and extradited to the U.S. to face justice and many Swiss banks will soon begin disclosing information about their U.S. clients to the IRS.

Given the success of these efforts, can Offshore Financial Centers survive and prosper in this new financial climate without tax-evading clients and if so, who will be the winners and losers?


Burke Files
Principal, Financial Examinations & Evaluations, Inc. (Arizona)

Tim Ridley
Former Chairman, Cayman Islands Monetary Authority (Cayman Islands)

Jack Blum
Chairman, Tax Justice Network (USA)

James McConvill
Counsel, Forbes Hare (London) & Senior Lecturer, Offshore Corporate Law, Victoria University (Australia)

Dan Reeves
Founder, Offshore Compliance & Enforcement Consulting Group & Retired Senior Advisor, IRS Offshore Compliance Initiative (New Jersey)

9:00 AM - 10:30 AM, May 05, 2014

Multi-jurisdictional asset recovery is expensive. Many millions of dollars can be spent on investigations and contentious litigation in the multiple fora presented by a serious fraud or corruption case. Confidential information regarding assets is fragmented and concealed behind multiple layers of foreign and domestic companies or other wealth preservation devices. Drilling down into the layers costs money. Investigations cost money. Asset freezing orders costs money. The price of Justice does not come cheaply. Bankruptcy courts and creditors often are not willing or able to fund these high costs.

What are the alternatives available to allow victim stakeholders and their representatives to gain access to Justice? This panel will consider the alternatives available in today's market for funding the procurement of professional asset recovery services.

What exactly is litigation funding? Why are there very few barriers to participation? The panel will discuss methods used to calibrate and manage the risks, as well as the price charged in a variety of jurisdictions for the human and financial capital required, if is to be purchased on a purely "at risk" basis for those whose job it is to recover assets.


Martin S. Kenney
Managing Partner, Martin Kenney & Co., Solicitors (BVI)

Timothy D. Scrantom
Principal, Scrantom Dulles International (Washington, D.C.)

Jonathan Cooperman
Partner, Farber Financial Group (Toronto)

11:00 AM - 12:15 PM, May 06, 2014

In this session, leading offshore attorney Jeremy Walton will pass on insider tips about the Dos and Don'ts of offshore litigation.

Issues to be addressed include:

- Minimizing Your Costs
- Legal Tools to Find Out Who Beneficially Owns a Legal Structure and What Assets They Have
- The Use of Motion Practice to Prevail in Disputes
- How Offshore Litigation Materially Differs From Onshore Litigation
- The Most Effective Strategies

Jeremy Walton
Partner, Appleby (Cayman Islands)

May 07, 2013 from 2:00 PM - 3:00 PM

At federal court in Manhattan, the SEC's securities fraud action against the billionaire Wyly brothers of Texas offers a fascinating and rare insight into the world of offshore trusts, including the level of actual control the Wylys had over offshore structures they claimed to legally not control. Among the court filings is a 1,204-page transcript of the deposition of Cayman Islands-based offshore provider Michelle Boucher, who helped manage some of the brothers' offshore structures. Separately, a 260 gigabyte hard drive of confidential data about offshore transactions that was leaked to to the International Consortium of Investigative Journalists also showed the hidden side of offshore trusts. This session will discuss what these cases have revealed so far about offshore trusts and how they operate.

Jack Blum
Chairman, Tax Justice Network (USA)

Bob Roach
Counsel & Chief Investigator to the Majority, U. S. Senate Permanent Subcommittee on Investigations (Washington, D.C.)

May 06, 2013 from 4:30 PM - 5:30 AM

Posing as would-be money launderers, corrupt officials, and terrorist financiers in need of anonymous shell companies, a research team solicited more than 3,700 corporate service providers that operate in 182 onshore and offshore countries/jurisdictions. The aim was to see how morally and legally flexible corporate service providers were prepared to be when potentially lucrative - but obviously-dodgy - business was dangled in front of them.

The experiment was documented in a report entitled 'Global Shell Games: Testing Money Launderers' and Terrorist Financiers' Access to Shell Companies' that was published in September, 2012 by the Centre for Governance and Public Policy, at Griffith University, in Australia.

In this presentation, one of the report's authors, Dan Nielson, will explain how the experiment was conducted and analyze its results, including comparing how offshore jurisdictions compared with their onshore counterparts.

Dr. Daniel Nielson
Co-Author, 'Global Shell Games: Testing Money Launderers’ and Terrorist Financiers’ Access to Shell Companies' (Utah)

May 06, 2013 from 4:30 PM - 5:30 PM

An overview of what is taking place in the ever-changing world of Offshore Finance.

This presentation will address questions such as:

- Jurisdictional update – Which OFCs are in the ascendancy, which are in decline?
- Client origination – which markets are driving the growth of the offshore industry?
- Changing trends in the usage of offshore structures.
- The impact of China on influencing the industry.

Simon Filmer
Managing Director, ex-Asia, Offshore Incorporations (BVI)

May 06, 2013 from 9:00 AM - 9:50 AM

Nearly 300 people from the world of high-value international finance enjoyed thoughtful sessions, exceptional networking, fine dining, and cocktails at The OffshoreAlert Conference in sunny Miami Beach on April 15-17, 2018.

There’s no doubt that lucrative business relationships will have been formed. After all, our attendees are involved in some of the biggest deals in global finance.

We specialize in bringing everyone together … people who ordinarily might only meet each other in adversarial situations.

No better example was our lively session on ‘The ICIJ v. OFCs: Witch-Hunt or Public Service’ in which the former Premier and Finance Minister of Bermuda butted heads with the head of the International Consortium of Investigative Journalists and one of the reporters to whom the Panama Papers and Paradise Papers were directly leaked.

Given the importance of the subject matter - and as a token of our appreciation to our loyal following, we’ve made an audio recording of the session available on YouTube for FREE.

With its Paradise Papers and Panama Papers projects, the International Consortium of Investigative Journalists has become Public Enemy Number One in the offshore world.

This session will look at the ICIJ's investigations, what they have revealed about the offshore industry (good or bad), the organization's motives, and whether the offshore industry has been treated fairly or unfairly.

The Hon. Michael Dunkley, Former Premier, Bermuda Government
Everard Richards, President, Bermuda Asset Management
Frederik Obermaier, Investigative Reporter, Süddeutsche Zeitung
Gerard Ryle, Director, International Consortium of Investigative Journalists


Created 8 months, 2 weeks ago.

14 videos

CategoryBusiness & Finance

Based in Miami, Florida, OffshoreAlert specializes in exposing serious financial crime while it's in progress and also holds annual conferences on financial intelligence and investigations. Our focus is offshore financial centers.