This is an excerpt from the session titled 'How to Identify Red Flags In The Offshore World' that was filmed live at the 11th Annual OffshoreAlert Conference held at The Ritz, Carlton, South Beach in Miami Beach, Florida on May 5-7, 2013.
Contrary to popular belief, Offshore Financial Centers are not all the same. Simply knowing where a company is domiciled can, off the bat, tell an informed person whether it is credible or not. So can the choice of offshore directors, legal advisors, and auditors and the way an offshore scheme is structured. As publisher of OffshoreAlert, David Marchant has exposed countless frauds since OffshoreAlert was launched in 1997. This session will show you what to look for when scrutinizing an offshore set-up.
This is an excerpt from the session titled 'The Cyprus Crisis: Could it Happen in Other OFCs?' that was filmed live at the 11th Annual OffshoreAlert Conference held at The Ritz, Carlton, South Beach in Miami Beach, Florida on May 5-7, 2013.
Wealthy Russians and other foreign nationals who use Cyprus as an offshore financial center face the prospect of losing up to 40% of their deposits as a result of the collapse of the economy in the jurisdiction. This session will look at what caused the crisis, the financial impact on clients of Cyprus' offshore sector, which jurisdictions are likely to benefit from Cyprus' problems, and whether the debacle could be repeated in other OFCs.
Tim Ridley, Former Chairman, Cayman Islands Monetary Authority (Cayman Islands)
Gonzalo Jalles, CEO, Cayman Finance (Cayman Islands)
Richard Rahn, Chairman, Institute for Global Economic Growth (Washington, DC)
Warren Coats, Consultant, International Monetary Fund (Washington, DC)
RECORDED LIVE ON: May 07, 2013 from 9:00 AM - 10:00 AM
In the spring of 2013, former RCMP criminal investigator Kim Marsh was contacted by an old informant, to see if Mr. Marsh could provide a solution to a problem: 'How to move $240 million of US$100 shrink-wrapped notes contained in twelve steel boxes held in a bonded warehouse in a West African state, and to exchange the notes for something of value'.
The money was contained in 12 steel boxes sealed with the great seal of Gaddafi's Libya. According to the informant, upon the fall of the Gaddafi regime, the funds were spirited out of Libya on a truck and placed into the hands of a small group of trusted men in a West African State.
The mission was to try to recover the funds for the people of Libya. There are many twists and turns to this story. It is presented by the professionals who ran the ensuing asset recovery investigation.
The OffshoreAlert Conference
The Ritz-Carlton, South Beach, Miami Beach, FL
May 06, 2014
Martin Kenney, Managing Partner, Martin Kenney & Co., Solicitors (BVI)
Kim Marsh, Executive Vice President, International Operations, IPSA International (London)