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:
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 company which had supposedly paid him illegally through apartment renovations.
Mr. Kerik could have accepted some of this alleged illegal payment after being sworn in as New York City’s 40th police commissioner. He is also accused of concealing the same by failing to report it as taxable income and may have taken false deductions in a tax fraud. Sup. Indict. ¶¶ 20 (c) & 28-31.
Although Mr. Kerik had been freed because of the $500,000 bail package mentioned at "Former NYC police chief Kerik jailed before trial", he was remanded by an October 20, 2009 Order revoking the conditions of his supervised release. Before issuing this Order, the Court presumably considered the Government’s October 14, 2009 letter:
(To Read The Above Letter, Click On It)Continue Reading Bernard Kerik Is Jailed While His Trial Is Delayed
A U.S. Army Sergeant pleads guilty to taking bribes, then trying to conceal them in a money laundering conspiracy and $32.8 million in U.S. currency is interdicted because of “Project Coronado”:
*A U.S. Department of Justice press release describes the conviction of Army Sergeant Ana C. Chavez for a public corruption scheme which had bribery
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 time, Mr. Hecker had business difficulties which later culminated in the entry of a nearly $477 million dollar judgment against him in Chrysler Financial Services Americas LLC v. Dennis E. Hecker, Hennepin County Civil Court, Case No. 27-CV-09-2152. Given the fact of this $477 million dollar debt, Mr. Hecker filed a Chapter 7 bankruptcy petition on June 4, 2009.
Mrs. Hecker meantime, applied to the Family Court for a monthly award of interim spousal maintenance and child support. Similar to what I discussed at "Recovering Marital Assets Through A Domestic Court", page 4 ¶14 of her September 28, 2009 supporting affidavit asked the Court to "impute income" to Mr. Hecker:
Click On The Affidavit To Read It
Continue Reading Has Auto Magnate Dennis Hecker Hidden His Assets?
Holocaust-era assets and drug-related assets are both covered by this “Asset Search News Roundup”:
*My article “Searching For Nazi-Looted Art” described the Holocaust-era assets / contested provenance case ofBakalar v. Vavra, Index No. 05-CV-3037 (S.D.N.Y.). The trial court in Bakalar rejected the claim that Egon Schiele’s “Seated Woman With Bent Left
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.
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:
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