Key facts Primeo was a Madoff feeder fund that invested with BLMIS – Bernie Madoff’s investment advisory and trading business that was central to the Madoff Ponzi scheme. Primeo incurred huge losses and sued its custodian (HSBC) and administrator (Bank of Bermuda) for breach of duty. The Court found that there were breaches of duty […]

The prime minister has hailed an agreement by the UK’s Overseas Territories and Crown dependencies to sign up to a tax evasion clampdown. David Cameron said it was a “very positive step forward” ahead of the G8 meeting, which starts on Monday. But sources from the Crown Dependencies told the BBC a proposed register of […]

Bribes for Venezuelan officials were funnelled through tax havens, court filings claim. Francisco Illarramendi often called on Moris Beracha when he needed an infusion of cash. The Venezuelan-born Illarramendi was a manager of a Connecticut-based investment advisory firm. Beracha was a Venezuelan financier close to the Hugo Chavez government who, a lawsuit against him claims, […]

A joint investigation by the UK, the US and Australia to identify those using offshore tax havens to hide wealth has uncovered more than 100 people. Her Majesty’s Revenue and Customs (HMRC) said some of these were already under investigation for tax evasion, the BBC reports. It said it has obtained large quantities of documents […]