February 2009

My post “Domestic Shell Companies & An Asset Search” explained that assets are sometimes concealed by shell companies used in a variety of financial frauds.  In fact, states like Nevada and Delaware are especially prone to the formation of shell companies lacking transparency.  Once such shell companies are established in Nevada, Delaware or…

In this "Asset Search News Roundup", I discuss the money laundering case against N.Y.P.D Officer Yaniris Balbuena– who is accused of hiding drug monies in nine bank accounts.  I also mention the money laundering investigation just commenced against Houston billionaire R. Allen Stanford.

 *Although Officer Yaniris Balbuena is almost a nine year veteran of the…

Financial Intelligence Units or other government agencies throughout the world have a keen interest in searching for illicit assets and then forfeiting them.  This global interest in asset forfeiture is perhaps marked by the growth of  “goAML” software from The United Nations Office on Drugs and Crime.  “GoAML” even includes “goATR”, which…

The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) is the focus of this “Asset Search News Roundup”.  OFAC administers economic and trade sanctions against international drug traffickers, terrorists and certain countries under Presidential national emergency powers or federal laws.  In order to impose such economic sanctions, OFAC or other governmental authorities search…

My September 26, 2008 Asset Search News Roundup mentioned that public corruption crimes can involve concealing bribe payments or other illicit assets.  This is perhaps why financial institutions sometimes check lists of “Politically Exposed Persons“, (i.e. individuals holding high foreign public office, a.k.a. “PEPs”), in an anti-money laundering program.  These lists of “Politically…