A "Misappropriated Public Assets" civil petition in France claims that the presidents of Gabon, Congo Brazzaville and Equatorial Guinea are likely hiding assets. The "Misappropriated Public Assets" petition against the three heads of state was filed December 2, 2008 by both Transparency International (France) and the Sherpa Association. The assets at issue in France might possibly… Continue Reading
Monthly Archives: January 2009
Asset Search News Roundup: January 26, 2009
Posted in Asset Search News, Identity TheftThis "Asset Search News Roundup" discusses criminal liability for hiding assets via money laundering in Mexico; a computer intrusion at Heartland Payment Systems which may have compromised tens of millions of credit / debit card transactions; and the sentencing of a man for identity theft after he was caught with 66 counterfeit driver’s licenses: 1. … Continue Reading
Computer Intrusions That Violate Privacy Laws
Posted in Asset Search/Fraud Investigation, Privacy Laws, White-Collar Crime GenerallyMy post "Pretexting During An Asset Search" explained that using false pretenses may violate privacy laws during an asset search. "Attorney Christensen’s Wiretap Conviction" additionally mentioned the case of a California attorney who violated privacy laws by conspiring to wiretap a divorcing spouse’s phone. Privacy laws however, don’t just criminalize certain types of pretexting or… Continue Reading
Asset Search News Roundup: January 18, 2009
Posted in Asset Search NewsThe "Asset Search News Roundup" for this week describes suspected asset concealment schemes with cross-border elements in Israel, Singapore and the Philippines: On January 11 The Jerusalem Post reported that a New York grand jury is considering indicting U.S. businessman Morris Talansky. The article explained that Mr. Talansky is suspected of money laundering, tax evasion… Continue Reading
Former President Bill Clinton’s $500,000 Speaking Engagement
Posted in Asset Search/Fraud InvestigationA search for hidden assets is sometimes actually a quest for greater transparency. A financial transfer lacking transparency may delay investigators trying to unravel a fraud. A lack of transparency can also multiply forced collection or asset forfeiture proceedings. This is so because such a financial transfer can obscure the true source or beneficial ownership of… Continue Reading
FoxBusiness News Appearance: “Madoff Probe Goes Offshore”
Posted in Asset Search/Fraud InvestigationAsset Search News Roundup: January 10, 2009
Posted in Asset Search NewsWhether Bernard Madoff’s Ponzi scheme could have violated foreign criminal laws, is the subject of this "Asset Search News Roundup". The Serious Fraud Office of the United Kingdom’s criminal justice system has issued a press release stating that it is pursuing an investigation of Mr. Madoff. Austria’s Financial Market Authority also announced in its press… Continue Reading
Hiding Assets Through Portable Valuable Commodities
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Swiss Banks, Tax FraudThe Asia / Pacific Group on Money Laundering explains on its typologies webpage, that one way to hide assets is by purchasing portable valuable commodities like diamonds. The typologies webpage further gives the example of a beneficial owner concealing assets by transferring diamonds to another jurisdiction. One man who may have tried this kind of… Continue Reading
Asset Search News Roundup: January 4, 2009
Posted in Asset Search News, Swiss BanksThis "Asset Search News Roundup" highlights shell companies which can be used to conceal bankruptcy estate, marital, probate or other assets. As "Bank Melli Accused Of Hiding Its Fifth Avenue Assets" mentions, the asset forfeiture case against New York’s ASSA CORP. is perhaps a good example of a domestic shell company suspected of concealing assets… Continue Reading