British Virgin Islands News Archives

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.

The facts behind Mr. Justice Lewison's recent judgment in Stanford ) have no direct connection with either the British Virgin or Cayman Islands but lawyers there do have particular reason to note the more general principles around the seemingly vexed but important issue of COMI in the context of multi-jurisdictional insolvency.

Pompey's new owner Ali Al Faraj is to face further probes by Premier League officials keen to find out more information about the secretive Saudi.

St Kitts and Nevis exported more goods and services to the United States for the first seven months of this year among the member countries of the Organisation of Eastern Caribbean States and Barbados.

New Delhi, Oct 8 : After visiting the upcoming Games Village here for the 2010 Commonwealth Games, a member of the CG Federation felt Thursday that a lot still needs to be done though quite a bit of work has been carried out.

During the stark, harsh winters in South Dakota, I often longed for the warmth and tranquility of a tropical island.

U.S. weather forecasters say Tropical Storm Henri has gained moderate strength over the Atlantic Ocean.

Authorities had initially ruled Shelley Tyre's death an accident and turned her body over to husband David Swain A US scuba shop owner and former town councillor goes on trial this week accused of drowning his wife 10 years ago while on a diving trip in the British Virgin Islands.

University of Exeter scientists are part of the first team to monitor a sea turtle's journey from the Turks and Caicos Islands.

Arrangements are being made to extradite a Tortola man who is wanted by authorities there to face murder charges.

Baturina is Russia's richest woman, with a fortune rated at $900 million. Russia's wealthiest woman, Yelena Baturina, has paid ?50 million for the largest private residence in London and will spend another ?50 million adding a cinema and 24-car garage, Britain's Sunday Times reported.

An anglophile green turtle has made a 550-mile journey through the Caribbean, sticking to territories administered by Britain.

Christopher Columbus would not have made much headway on his 1492 voyage had every day on the high seas been like the soggy and still conditions encountered Thursday on the Ohio River.