Monthly Archives: November 2007

High-Risk Locations & An Asset Search

By Fred Abrams on November 27th, 2007 Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Tax Fraud

An investigation of a high-risk geographical location can sometimes uncover assets which have been hidden through: nominees; shell companies; cash couriers; wire transfers; credit cards; informal banking systems, etc. For example, one way the IRS focuses on high-risk locations like tax havens, is to compare the banking information it receives from the Financial Crimes Enforcement… Continue Reading

Offshore Bank Accounts, Equitable Distribution & Divorce

By Fred Abrams on November 24th, 2007 Posted in Asset Search/Fraud Investigation, Divorce & Child Support

Sometimes information from passports, phone records, or the documents found in one’s home can be a red flag that a divorcing spouse has hidden assets in an offshore bank. One divorcing wife recently explained to me that her absconding husband had left a box full of Internet research about offshore banks in their basement. These… Continue Reading

A Divorce & Trade-Based Tax Fraud / Money Laundering

By Fred Abrams on November 19th, 2007 Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Money Laundering, Tax Fraud

Although the divorcing husband was wealthy, he offered his wife only a meager settlement. The husband also threatened that he was "judgment proof" and that his wife might collect nothing after the divorce despite their longtime marriage. The husband however, had ample marital assets and he and several of his business associates had likely hidden… Continue Reading

A Debtor & His Bankruptcy Fraud

By Fred Abrams on November 13th, 2007 Posted in Asset Search/Fraud Investigation, Bankruptcy

With the lawsuit ending in a large money judgment in favor of the Judgment Creditor, the Debtor filed for bankruptcy in order to protect his personal assets. To collect on its judgment against the Debtor, the Judgment Creditor then filed a proof of claim as an unsecured creditor in the bankruptcy. The Judgment Creditor thought… Continue Reading

Nominees & Hidden Assets

By Fred Abrams on November 7th, 2007 Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Tax Fraud

A beneficial owner can try to use a nominee, (i.e. intermediary), to hide money with complete anonymity in a bank account. As the website of www.offshoresimple.com essentially explains, a beneficial owner may hire a nominee incorporation service to supply a bank signatory for a nominee bank account. This suggests that a beneficial owner may use… Continue Reading