British Virgin Islands News

The Treasury has hit back at claims that London is one of the most secretive and underhand financial centres in the world, defending its "transparent" tax system.

Prosecutors in the British Virgin Islands say a Rhode Island man convicted of killing his wife while scuba diving should serve at least 25 years in prison before getting parole.

You're a billionaire but you don't want anyone, least of all the taxman, to know.

The UKa s Overseas Territories and Crown Dependencies have been told to improve standards of regulation, and find new methods of raising tax.

LONDON: Offshore financial centres in the British Caribbean should consider introducing more taxes to shore up their increasingly shaky finances, according to a UK Government-commissioned report.

Britain's crown dependencies and overseas territories are being advised in a new report to ensure they meet international standards on taxation and financial regulation and to take a fresh look at their tax structures.

A German man who founded the hedge fund group K1 was arrested by police amid an investigation into possible fraud that may total some euro200 million , prosecutors said Thursday.

Michael Foot's review of British offshore financial centres has been published. MICHAEL FOOTa S Review of British offshore financial centres was published this morning.

K1 Group , a German hedge fund firm, is being investigated for possibly foisting about $400 million in losses on several major banks, Bloomberg reports.

A former client of UBS AG who cooperated in a probe of the Swiss bank's ties with wealthy Americans hiding money overseas was sentenced to one year house arrest and a fine on Wednesday for a multimillion-dollar tax evasion scheme involving a British Virgin Islands corporation.

A jury in the British Virgin Islands has found a Rhode Island man guilty of murder after his wife drowned during a 1999 scuba-diving trip.

David Swain, center, arrives in handcuffs escorted by prison guards to the High Court building in Tortola, British Virgin Islands, on the first day of his trial in the drowning of his wife Shelley Tyre in March 1999 while the couple was diving on the last day of a Caribbean getaway.

C&W Bermuda customers will be able to enjoy increased internet bandwidth and improved internet services thanks to the commissioning of a USD10 million submarine fibre-optic cable link.

How do you throw a launch party for a luxury catamaran without the boat or its owner present? Well, if you're Virgin Limited Edition and Richard Branson and his new Necker Belle are unavailable to party, you just down canapes at one of New York City's best restaurants: Le Bernardin .

AS INVESTORS clamoured yesterday to withdraw funds managed by Astarra, the responsible entity, Trio Capital, revealed it had little, if any, insight into the Astarra Strategic Fund's special-purpose vehicle in the British Virgin Islands - through which it claims to invest nearly all of its $118 million of funds.

THE AUSTRALIAN Securities and Investments Commission yesterday issued an urgent interim stop order forcing Trio Capital - until recently known as Astarra Capital - to remove the product disclosure statements for its Astarra Managed Funds from its website.

The Unit Trust Corporation last week pulled the plug on a US$1.5 billion development in the Turks & Caicos Islands, placing a five-star resort there into receivership because it had failed to meet payments on a loan from the local financial institution.

First Corporation announces it has signed an agreement to acquire 100% of Acquma Holdings Limited.

Empty property in Mayfair, London. There are 3,000 empty properties in Westminster, London, an increasing number of which are bveing squatted.

In March 2008, the Forlini family launched their 42-foot catamaran from Fort Lauderdale.