Latest News for: Offshore trust

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Court throws out Okufubour I for lack of capacity

Ghana Web 27 Nov 2021
To the adjudicating body, although the disputed land forms part of the Ngleshie Alata Stool (Dansoman lands), it dismissed the suit on lack of capacity grounds on the part of the plaintiff. Part of the ruling read "... I ... The case of Standard Bank Offshore Trust Limited Vrs National Investment Bank was relied on for that proposition ... .
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Has govt made any progress in Pandora Papers investigation?

The News International 26 Nov 2021
A well-placed source informed that it is not a show-cause notice but a friendly questionnaire to inquire about the possession of the offshore companies ... The Pandora Papers contain more than 700 Pakistanis who secretly own or have owned an array of companies and trusts holding millions of dollars in the offshore jurisdiction.
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Pramod Mittal ordered to disclose offshore family trust deeds to UK court

The Times of India 24 Nov 2021
An offshore family trust of billionaire steel magnate Lakshmi Mittal’s family is being forced to disclose its secret trust deeds and associated documents to a London court ... "There is evidence Mr Mittal does exercise control over the Prasan Trust and DIL and yet DIL was allowed to vote on the IVA as an unassociated creditor," she said.
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Hinduja family feud puts century-old business empire in jeopardy

The Times of India 24 Nov 2021
LONDON. As a child in London, one of Karam Hinduja’s favorite pastimes was watching Bollywood movies with his grandfather Srichand Hinduja, the patriarch of a sprawling global business empire ... Until last year ... Opaque holding structures — through trusts and offshore entities — make it difficult to determine ownership of the conglomerate’s companies ... .
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Billionaire family feud puts a century-old business empire in jeopardy

Live Mint 24 Nov 2021
“He and I, without fail, once a week, whatever was new, whether it was good or bad," Karam said in a recent interview in Geneva. “That’s a lot of how we bonded." ... President George H.W ... Opaque holding structures —  through trusts and offshore entities —  make it difficult to determine ownership of the conglomerate’s companies ...  .
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Hinduja family feud puts a century-old business empire in jeopardyWhat really sparked the feud remains ...

Deccan Herald 24 Nov 2021
By Hugo Miller and Jonathan Browning ... “He and I, without fail, once a week, whatever was new, whether it was good or bad,” Karam said in a recent interview in Geneva. “That’s a lot of how we bonded.” ... Read more ... Opaque holding structures — through trusts and offshore entities — make it difficult to determine ownership of the conglomerate’s companies.
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Auditor general says N.S. gave up control of $193M for internet projects too soon

CBC 23 Nov 2021
The $193 million, taken from a settlement related to offshore petroleum royalties, went into the trust and then stayed there for almost two years before the first high-speed internet projects were announced ... .
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ED raids 12 Ireo group premises in money laundering case

Indian Express 22 Nov 2021
An October 12 report published in The Indian Express had revealed that Goyal had moved $77 million to offshore trusts even as homebuyers and investors had approached authorities and courts against the company for return of their money.
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NJ Pinelands preserve will more than double in size with the addition of 200 acres

Atlantic City 19 Nov 2021
The deal was led by the nonprofit Trust for Public Land ... The acquisition "is crucial to protecting water quality in the Rancocas Creek, the only Pine Barrens watershed that drains west to the Delaware River," said a statement from the Trust for Public Land. Groups join to support New Jersey offshore wind power.
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Montenegro President Denies Role in Money-Laundering Ring

Balkan Insight 17 Nov 2021
On October 22, Montenegro’s State Prosecution opened an investigation into the so-called Pandora Papers findings, which revealed that Djukanovic and his son, Blazo, placed money in offshore accounts via two trusts ... two trusts in the British Virgin Islands tax kaven in 2012.
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Ceredex Value Advisors Names Jennifer Graff Portfolio Manager of Large Cap Value Strategies

The Marshall News Messenger 17 Nov 2021
ORLANDO, Fla., Nov ... "It's a true privilege to earn our clients' trust and manage their hard-earned investment dollars," said Graff ... Ceredex manages assets for institutional and individual clients through separately managed accounts and subadvisory relationships that include mutual funds, collective investment trusts, and offshore funds (UCITS) ... ....
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Pandora Papers probe begins I-T notices sent to Indians, NRIs

MENA FN 16 Nov 2021
MAG How MAG is probing Pandora Papers? Officials said the MAG has "exercised all channels" to probe the offshore data leak ... Reason Why do people use offshore accounts? Many individuals park their money in offshore accounts or trusts in tax havens like Samoa, Belize, Cook Island, British Virgin Island, and Panama.
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Ireo’s Lalit Goyal arrested by ED for money laundering

Indian Express 16 Nov 2021
The Indian Express in a report published on October 12 had revealed that the company had moved US $ 77 million to offshore Trusts even as homebuyers and investors had approached authorities and courts against the company for return of their money.
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Lebanon man sentenced for tax evasion

Lebanon Express 16 Nov 2021
In 1993, Lund reportedly paid $30,000 to an offshore trust promoter to establish layers of trusts to hide profits from the IRS, according to the news release ... In response, Lund stopped filing tax returns, creating many limited liability companies and trusts to conceal his income and assets, according to the news release.
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Oregon tax evader sentenced to more than 3 years in federal prison

The Oregonian 16 Nov 2021
In 1993, Lund paid $30,000 to an offshore trust promoter to establish layers of trusts to hide its profits from the IRS ... Lund challenged his tax assessments in 1994, 1995 and 1996 in federal tax court, but the court ruled his trust set-up was a “sham trust package supported by no economic substance,” according to court records.
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