1. Transparency International’s April 17th post “Who owns what? Trying to clean dirty money in the EU”,  highlights the importance of identifying the beneficial ownership of assets.  Among other things, it mentions Teodorin Nguema Obiang, who is a suspected kleptocrat.  A Wall Street Journal blog post meanwhile, describes the French arrest warrant

The Financial Action Task Force updates its standards and two politically exposed persons are criminally charged in the Turks and Caicos Islands¹:

  1. The Financial Action Task Force has revised its 40 Recommendations for fighting money laundering and terrorist financing.  A February 16th press release states these revisions include “[m]ore effective international cooperation including

The Premier And The Hip-Hop Magazine” published by Forbes on March 3, 2010, observed that special prosecutor Helen Garlick had so far not filed public corruption or other charges against former Turks & Caicos Islands premier Michael Misick.  The March 3rd article also pointed out that the former premier and his ex-wife U.S. actress LisaRaye McCoy, were alleged to have invested monies in the US-based Hip Hop Weekly magazine.

$300,000 dollars for example, might have been transferred in 2007 to Hip Hop Weekly through companies known as My Way Productions 2 and the Windsor Investment Group.  The former premier and Ms. McCoy seemed deeply involved in My Way Productions 2, as more fully set forth at “The Former Premier’s Nexus To Hip Hop Weekly Magazine” and “The Actress, An Ex-Premier & Hip Hop Weekly Magazine“.  Windsor Investment Group meanwhile, was apparently partially owned by the former premier and his brother, Chal Misick.

The former premier, Ms. McCoy, Chal Misick and the Windsor Group are now thought to possibly be subject to a June 23, 2011 restraining order which allegedly froze the former premier’s assets worldwide.  The Turks & Caicos Sun has reported that the alleged June 23rd order “was made” by special prosecutor Garlick and that it lists the former premier, Ms. McCoy, Chal Misick, the Windsor Group and others.Continue Reading Former Premier Misick Reportedly Subject To Worldwide Asset Freeze

The October 27th “Asset Search News Roundup” covers Former Premier Michael Misick and tax fraudster Erwin Mayer:

During his marriage to actress LisaRaye McCoy, ex-Turks and Caicos premier Michael Misick was investigated for public corruption by the Turks and Caicos Islands Commission of Inquiry. The ex-premier’s suspicious activities were believed to be so harmful, they contributed to the UK Government decision to suspend parts of the 2006 Turks Caicos Island

At “Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud“, I first mentioned the nexus between former Turks & Caicos premier Michael Misick and Hip Hop Weekly Magazine.  The Forbes article “The Premier And The Hip-Hop Magazine” discussed the same thing and also quoted me.

This article specifically examined the Former Premier’s alleged investment in Hip Hop Weekly Magazine through My Way Productions 2.  The Forbes article additionally described Sir Robin Auld’s public corruption investigation of the Former Premier and asked at page 1:

 “How did My Way Productions 2 get its funding? According to the investigation carried out by Sir Robin Auld, Misick supplied a document that showed $300,000 was transferred to My Way Productions 2 in 2007 from a company called Windsor Investment Group. Misick claimed the money was a dividend from that company, which he and his brother partially owned.”

The supposed transfer of $300,000 dollars into My Way Productions 2 had been expressly mentioned at page 146 ¶¶4.75 & 4.76 of Sir Robin’s “Final Report to the Governor of the Turks and Caicos Islands.*  The $300,000 dollars was also apparently discussed at pages 51, 53, & 54 of a transcript from the Former Premier ‘s January 14, 2009 public corruption hearing.  Besides all of the foregoing, assertions made by New Jersey lawyer David J. Finkler might too shed light on the Former Premier’s connection to Hip Hop Weekly Magazine.Continue Reading The Former Premier’s Nexus To Hip Hop Weekly Magazine

The Court announced yesterday that there had been a settlement in the New Jersey case involving Former Premier Michael Misick of the Turks and Caicos Islands.  The settlement is mentioned at the Court’s Order of Dismissal and by the current docket report.

According to various court filings, the Former Premier could have been a beneficial owner of Hip Hop Weekly Magazine through his alleged interests in: My Way Productions 2 LTD. (“My Way”), Z & M Media LLC (“Z & M”), and the holding company for Hip Hop Weekly Magazine, Hip Hop Global  Media, LLC (“HHG”). (Cf. Defendants’ Answer, Counterclaim and Third-Party Complaint at p. 26 ¶ 7) (claim that the Former Premier and his ex-wife LisaRaye McCoy were “real parties in interest”).

The Verified Amended Complaint in the New Jersey case meanwhile, indicated at ¶¶7, 57, 75, 78, 80 and Exhibit “H”,  that My Way or Z & M or HHG, might have been involved in making substantial capital contributions:

  1. $798, 647. 57 capital contribution from My Way into Z & M;
  2. $10,000.00 capital contribution from My Way into HHG;
  3. $833,334.00 capital contribution from My Way into HHG and Z & M;
  4. $260,000.00 capital contribution from Z & M to fund Hip Hop Weekly Magazine.

Continue Reading New Jersey Lawsuit Involving Former Premier Misick Settles

The securities fraud complaint in Nesbeth v. USMIO, Docket No: 09−cv−62042−WJZ, alleges that Wachovia Bank caused damage to the supposed victims of a Ponzi scheme. This complaint, (referred to hereinafter as “the Florida Complaint“), also asserts claims against: MasterCard Worldwide, Mr. David Smith of Jamaica, Overseas Locket Corporation formed in Jamaica, Former Premier Michael Misick of the Turks and Caicos Islands, etc.

The Florida Complaint alleges that Mr. David Smith had operated a Ponzi scheme which reportedly involved six thousand victims from the Jamaican community and might have caused $220 million in losses. Florida Complaint at  ¶¶31, 37 & 38.  The suspected illicit proceeds of the scheme may have been used to invest in businesses and possibly pay for: real property, a lavish cruise, valuable watches (i.e. portable valuable commodities), ornamental furniture and exotic automobiles.  Florida Complaint at ¶52.

According to the Florida Complaint at ¶49, proceeds from the scheme had additionally been laundered through bank accounts, including one maintained at Wachovia.  Like the Wisconsin Complaint earlier provided at “Associated Bank Sued For Supposedly Ignoring Red Flags“, the Florida Complaint essentially claims that a bank’s anti-money laundering program / Customer Identification Program pursuant to 31 CFR 103.121 ¶ (b) (2) (i), failed.Continue Reading Lawsuit Claims Wachovia Bank Facilitated Alleged Ponzi Scheme