A September 27th article explained that Madoff trustee Irving Picard will sue Bernard Madoff’s brother, sons and a niece this week for $198 million dollars. Trustee Picard could assert causes of action in the suit for: negligence, breach of fiduciary duty and possibly unjust enrichment. He will be filing suit because he seeks to interdict… Continue Reading
Monthly Archives: September 2009
Bankruptcy Estate Property Allegedly Concealed By A Cop
Posted in Asset Search/Fraud Investigation, BankruptcyAn "Asset Search In A Chapter 7 Bankruptcy Case" talks about researching a debtor’s bankruptcy petition and other court filings to help determine whether there is any fraudulently concealed bankruptcy estate property. This type of research recently resulted in the filing of a bankruptcy fraud complaint against Kelvin Daniels, who is a New York City cop. … Continue Reading
Asset Search News Roundup: September 23, 2009
Posted in Asset Search NewsThe September 23rd "Asset Search News Roundup" first discusses the importance of international cooperation, especially when assets are concealed by money laundering in multiple jurisdictions. It then mentions how U.S. and Chinese authorities cooperated to recover cultural relics including dinosaur fossils from as early as 100 million years ago. +An offshore asset search can sometimes… Continue Reading
Money Laundering By Minneapolis Money Managers?
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud, White-Collar Crime GenerallyTrevor Cook, Christopher Pettengill and three additional Minnesota money managers have been sued by 57 investors for alleged securities fraud. The Minneapolis Star Tribune wrote about the lawsuit in "Investment fraud suit grows more complex" and earlier on July 12, 2009. The investors’ second amended complaint at part 1 and part 2 herein, pleaded causes… Continue Reading
Asset Search News Roundup: September 16, 2009
Posted in Asset Search News, Holocaust-Era Assets, Securities FraudThe criminal conviction of former Taiwanese President Chen Shui-bian; the death of suspected Ponzi schemer Danny Pang; and the dismissal of a Holocaust-era assets case; are the subjects of this week’s "Asset Search News Roundup": Former Taiwanese President Chen Shui-bian’s arrest was discussed in the November 19, 2008 "Asset Search News Roundup". As the New… Continue Reading
Violating Federal Law In An Asset Search
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy Laws, White-Collar Crime GenerallyToday’s article is based on an ongoing investigation, the facts of which are changed below for privacy reasons: Ralph claimed in his New Jersey divorce that he had a low net worth, although he was a medical doctor who once had a thriving private practice. Ralph’s claim made his divorcing wife Nancy believe that… Continue Reading
Asset Search News Roundup: September 10, 2009
Posted in Asset Search News, Privacy LawsThis "Asset Search News Roundup" is about two New York criminal defense attorneys who among other things, were accused of violating privacy law by possessing illegal eavesdropping equipment. On August 20, 2009, attorneys Robert Simels and Arienne Irving were found guilty of importing and possessing illegal eavesdropping equipment in violation of 18 U.S.C. §§2512 (1)… Continue Reading
A Strategy Of Seizing Sinaloa Drug Cartel Assets
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingThe U.S. Department of Justice believes that seizing assets from Mexican drug cartels can generally help combat cross-border murder, kidnapping, robbery, etc. Through the person of the Criminal Division’s Assistant Attorney General Lanny A. Breuer, the Department of Justice reiterated its desire to seize the illicit assets of illegal narco-traffickers. Assistant Attorney General Breuer stated… Continue Reading
Asset Search News Roundup: September 4, 2009
Posted in Asset Search News, Bankruptcy, Securities FraudI discussed "clawback" in my July 18, 2009 "Asset Search News Roundup" as well as in "Clawback Caused By A Ponzi Scheme". These articles explained that assets may be recovered by clawback which can force an investor to return presumptively fraudulent profits, as mentioned by In re: Bayou Group LLC, et. al., 396 B.R. 810… Continue Reading
Hiding Assets Via White-Collar Crime
Posted in Asset Search/Fraud InvestigationAs partly suggested by the list of statutes at my post, "An Asset Search, Tax Fraud & Divorce", hiding assets may lead to a variety of white-collar crimes. Perhaps attorney Stephen Yagman’s June 22, 2007 conviction on one count of tax evasion, one count of bankruptcy fraud, and seventeen counts of money laundering, best demonstrates… Continue Reading
Committing Bank Fraud Through Identity Thefts
Posted in Accessing Assets By ID Theft, Asset Search/Fraud Investigation, Financial Institutions, Identity Theft, White-Collar Crime GenerallyAn August 25 Newsweek article mentioned that Federal Reserve Chairman Ben Bernanke had fallen prey to identity thieves after Mr. Bernanke’s wife had her purse stolen. One of the people believed to have been responsible for that identity theft is Clyde Austin Gray, Jr. Mr. Gray had conspired to commit identity theft nationwide, according to… Continue Reading