In a dramatic twist, the yacht formerly known as MOKA, owned by Nidal “Mofid” Karameh, has returned to Greek waters in 2024 after an 18-month game of evasion and legal intrigue. MOKA, now renamed Hallo, first fled Greece in September 2022 as it faced injunctions for its arrest. After a whirlwind journey that included stops in Turkey, Egypt, and Saudi Arabia, the yacht finally found refuge among sanctioned Russian and outlaw vessels in Dubai.
AIS Transponder Deception
In February 2024, MOKA’s AIS transponder, which had been silent for over a year, resurfaced. The vessel was tracked navigating around the southern Arabian Peninsula and into the Red Sea, briefly stopping in Hurghada, Egypt, before passing through the Suez Canal in March. After clearing Port Said, the crew deactivated the AIS once more, transforming the yacht into a maritime hazard. Invisible to other ships in the Mediterranean, it continued its covert journey.
By April 2024, the yacht was spotted off the coast of Aegina, Greece, before docking in Perama, under its new identity as Hallo. Along with the new name came the claim of new ownership, but legal experts and investigators argue that the vessel’s true ownership remained unchanged.
The Illusion of Ownership: The Color of Fraud
A growing body of evidence suggests that HALLO is still under the control of Karameh, despite the apparent ownership transfer. A legal team examining the case has asserted that the vessel’s change of name and owner is merely a façade. The yacht’s registered ownership was transferred from one Marshall Islands-based shell company owned by Karameh to another of his shell companies, just before the yacht re-entered Greek territory. The timing, experts argue, indicates a clear intent to avoid legal consequences.
“The transfer was clearly orchestrated to dodge the jurisdiction of the Piraeus Court and circumvent injunctions for the yacht’s arrest and seizure,” a legal expert explained. The Court, which holds authority over the case, could now “pierce the corporate veil” of the newly formed company, NorthShield Marine, to expose the fraudulent nature of the transaction. This legal maneuver would expose the fraud, holding Karameh and his network of shell companies accountable for tortious conduct and breach of duty.
Allegations of Fraud and Conspiracy
The central argument presented by the legal team revolves around the premise that NorthShield Marine was established for the sole purpose of committing fraud and evading financial obligations. The newly created entity is accused of being a tool in Karameh’s larger scheme to deceive creditors and escape legal responsibilities. Legal experts argue that the yacht’s ownership transfer was a deliberate ploy to misrepresent the facts before the Court.
“The timing of the company’s formation and its actions clearly show intent to deceive creditors and evade legal obligations,” one expert opined.
The conspiracy to commit fraud allegedly extends to the yacht’s managers, who are accused of working alongside Karameh to form a new entity solely to protect the yacht from seizure and skirt financial liabilities. These tactics reportedly included falsifying financial statements, hiding assets, and misrepresenting the company’s ability to pay its debts.
Alter Ego Theory and Control
Further complicating the case is the assertion that NorthShield Marine and its predecessor, Carisio, are not separate entities, but rather extensions of Karameh himself. According to investigators, there is little distinction between Karameh and the companies he controls. Legal experts argue that there is no corporate hierarchy within these entities; Karameh exercises complete control over both, disregarding formalities and using the companies as tools to shield himself from personal liability while continuing to benefit from the yacht’s assets.
Under this “alter ego” theory, Karameh’s manipulation of corporate structures demonstrates a unity of interest between himself and his shell companies, making them indistinguishable in terms of ownership and decision-making.
Evading Legal Responsibilities
One of the most damning accusations is that NorthShield Marine was established with the express purpose of circumventing direct orders from the Piraeus Court. By creating a new entity just before re-entering Greek waters, Karameh aimed to avoid financial obligations and evade the existing legal injunctions against MOKA (now HALLO).
The timing of NorthShield Marine’s creation, the manner in which the yacht was transferred, and the continued control exerted by Karameh strongly point to intentional fraud, according to the legal team. “This is clear evidence of intent to evade liability,” a source close to the case noted. Investigators are now pushing for a ruling that would allow the Court to pierce the corporate veil, holding Karameh, NorthShield Marine, the yacht managers, and other co-conspirators accountable for their actions.
A Legal Reckoning Looms
With the reappearance of Hallo, formerly MOKA, a legal showdown appears inevitable. The Piraeus Court is expected to take decisive action, with legal experts confident that the fraudulent schemes of Nidal Karameh and his network will soon be exposed. The ongoing case underscores the lengths some individuals will go to evade justice, and the potential consequences they face when those schemes unravel.
With charges of fraud, conspiracy, and misrepresentation hanging over HALLO’s management and ownership, this saga may finally reach a dramatic conclusion in the courtroom, where the true colors of fraud will be revealed.
The outcome of this case could set a precedent for how courts handle similar cases of corporate deception in the maritime world, sending a message that such tactics will not go unpunished.
