August 2007

When fraudulent transfers are used to hide assets the subject of a debt collection, divorce, or bankruptcy case, the Court looks for badges of fraud.  As explained in Wall Street Associates v. Brodsky, 257 A.D.2d 526, 529 (1st Dept 1999), the badges of  fraud for fraudulent asset transfers or conveyances are:

  • A Close Relationship

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According to the Washington Post, U.S. Army Major John Cockerham, his sister, and wife were all recently arrested for hiding the proceeds of the largest bribery case in Iraq by money laundering.  As the Washington Post further mentioned, Major Cockerham allegedly received $9.6 million in bribe money, (and was awaiting another 5.4 million), for giving favorable contracts to military contractors.  The Washington Post also reported the

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