Archive | Caribbean

Turks and Caicos Islands

Turks and Caicos Islands

The two island groups are in the North Atlantic Ocean, southeast of the Bahamas, north of Hispaniola, and about 1,000 kilometers (620 mi) from Miami in the United States. The territory is geographically contiguous to the Bahamas, both comprising the Lucayan Archipelago, but is politically a separate entity. The Caicos Islands are separated by the […]

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Stanford: “I’m Not A Damn Swindler”

Allen Stanford stands accused of running an $8bn ponzi scheme involving fraudulent certificates of deposit, but the financier came out with all guns blazing in a recent interview at the office of his criminal defense lawyer. Although the SEC has described his operation as a “massive, ongoing fraud” Stanford feels fundamentally misunderstood. “The SEC far […]

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US Tax Haven Hypocrisy Must End

How offshore “tax havens” don’t include US tax dependencies like the US Virgin Islands. The past few months have seen attacks against “offshore tax havens” which undermine collection of US taxes and other efforts from other high-tax countries. The OECD, a European think-tank which pays no tax, has come up with a list of countries […]

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British Colonies Braced For ‘Hurricane Brown’ Assault on Tax Evasion

Britain’s crown dependencies and overseas territories are scrambling to defend themselves against the latest rhetoric issued by high-tax countries. Supposedly ‘leading’ offshore centres are pleading for a more discriminate approach to distinguish themselves from the ‘dirtier’ unregulated tax havens. Geoff Cook of Jersey Finance, which represents the island’s financial industry, says: “The thing we worry […]

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Offshore Banking Update: SEC Statement on Standford Charges

The knives are out….SEC Release: The Securities and Exchange Commission today charged Robert Allen Stanford and three of his companies for orchestrating a fraudulent, multi-billion dollar investment scheme centering on an $8 billion CD program. Stanford’s companies include Antiguan-based Stanford International Bank (SIB), Houston-based broker-dealer and investment adviser Stanford Group Company (SGC), and investment adviser […]

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Sir Allen Stanford

Stanford International Bank Under FBI Investigation

FBI agents are investigating Antigua-based Stanford International Bank, owned by Texan billionaire Sir Allen Stanford. The bank has come under scrutiny because it offers CD’s with returns at twice the rate of ‘conventional’ banks. Former employees have also witnessed ”unethical and illegal practices”, reports the times of London. Mark Tidwell and Charles Rawl alledge that […]

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Why the BVI?

Which offshore jurisdiction is the best for setting up a company to conduct business in the burgeoning I-Gaming Industry? This was the topic of a conversation recently in Barcelona, amongst a group of foreign entrepreneurs attending conferences related to Internet Gambling. At a glance the I-Gaming Industry is over $10 Billion USD per year in […]

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Expats To Remit $100bn To Caribbean And Latin America By 2010

Remittances to Latin America and the Caribbean will continue to grow in coming years and will surpass $100 billion a year by 2010, according to the Inter-American Development Bank’s Multilateral Investment Fund (MIF). “Given present economic and demographic trends in Latin America and the Caribbean and in industrialized countries, remittances will continue to grow in […]

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