Monthly Archives: October 2009

Asset Search News Roundup: October 29, 2009

By Fred Abrams on October 29th, 2009 Posted in Asset Search News, Securities Fraud

This "Asset Search News Roundup" is about the clawback claim filed against the late billionaire Jeffrey Picower and hiding assets by laundering them through multiple jurisdictions: "Madoff friend drowned due to heart attack" reported that on October 25, 2009 billionaire Jeffrey Picower died because of a heart attack and accidental drowning in a swimming pool… Continue Reading

Bernard Kerik Is Jailed While His Trial Is Delayed

By Fred Abrams on October 26th, 2009 Posted in Asset Search/Fraud Investigation, Public Corruption, Tax Fraud, White-Collar Crime Generally

As I previously mentioned at the December 5, 2008 "Asset Search News Roundup", former NYPD Police Commissioner Bernard Kerik is alleged to have been involved in a public corruption scheme and tax fraud. Mr. Kerik’s superseding indictment in U.S.A. v. Bernard B. Kerik, 07-cr-1027, accuses him of trying to secure city contracts for a New Jersey… Continue Reading

Has Auto Magnate Dennis Hecker Hidden His Assets?

By Fred Abrams on October 20th, 2009 Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support

As a high-profile Twin Cities auto magnate, Mr. Hecker had been one of Minnesota’s largest car dealers. During April 2008, he sought a divorce from his wife of about fifteen years in Hennepin County Family Court, Case No. 27-FA-08-2731. Mr. and Mrs. Hecker however, stipulated to dismiss said divorce case during October 2008. At that… Continue Reading

Recovering Marital Assets Through A Domestic Court

By Fred Abrams on October 14th, 2009 Posted in Asset Search/Fraud Investigation, Divorce & Child Support

Before leaving New York, the divorcing husband referred to in Skiff-Murray v. Murray, 2005 slip op. 02911(N.Y. App. Div. 3d Dept, June 22, 2005); 17 A.D.3d 807; 793 N.Y.S.2d 243 had fraudulently conveyed his business and former marital residence to his newly created Nevada corporation which was possibly a shell company. Violating a restraining order,… Continue Reading

Asset Search News Roundup: October 11, 2009

By Fred Abrams on October 11th, 2009 Posted in Asset Search News, Securities Fraud

The October 11th Asset Search News Roundup describes what could have been the use of cross-border elements to launder the proceeds of a securities fraud. The interdiction of $41 million from bulk cash smuggling in Mexico and Colombia, is also discussed. The "Money Laundering FAQ" webpage belonging to the Financial Action Task Force states that:… Continue Reading

Asset Search News Roundup: October 5, 2009

By Fred Abrams on October 5th, 2009 Posted in Asset Search News, Securities Fraud

In this "Asset Search News Roundup", I mention that 90 tax information exchange agreements have been executed since April and talk about the $198 million dollar lawsuit filed last Friday: Due to the existence of tax information exchange agreements executed by different countries, a national tax authority could conceivably learn that a taxpayer has concealed… Continue Reading

Concealing Assets By Circumventing Customer Identification Rules

By Fred Abrams on October 2nd, 2009 Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud

As a countermeasure against those bank customers who would use their bank accounts to fraudulently conceal assets, government regulators commonly require that banks apply customer identification or "know your customer" rules. These rules are often geared toward identifying the true beneficial owner of a bank account and are analyzed at my articles "Beneficial Owners Concealing… Continue Reading