On November 23rd the U.S. SEC commenced its enforcement action by filing the following civil complaint for suspected securities fraud against Minneapolis money managers Trevor Cook and Patrick Kiley: (To Read The SEC’s Complaint, Click On It) As I last wrote in my October 29th "Asset Search News Roundup", Mr. Cook and Mr. Kiley… Continue Reading
Monthly Archives: November 2009
Warsaw Prosecutors Eye Possible Money Laundering At 50 Platowcowa Street
Posted in Asset Search/Fraud Investigation, Money LaunderingThe General Inspector of Financial Control in Poland received an anonymous tip letter about alleged suspicious activity. This tip ultimately related to Ukraine resident Sergly Savchuk; Prime Invest L.L.C. of Florida and the Sesa Polska & Tecza Mazur limited liability companies of 50 Platowcowa Street, Warsaw: The Warsaw Circuit Prosecutor’s Office next started their financial… Continue Reading
Asset Search News Roundup: November 22, 2009
Posted in Asset Search News, Financial Institutions, Public Corruption, Swiss Banks, Tax FraudThis "Asset Search News Roundup" mentions the sentence of a former Louisiana congressman and the 14,700 U.S. taxpayers who sought partial amnesty from the IRS: A November 13th FBI press release explained that Former Louisiana Congressman William Jefferson was sentenced to thirteen years in prison for public corruption and other crimes. As I discussed at… Continue Reading
Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud
Posted in Asset Search/Fraud Investigation, Public Corruption, White-Collar Crime GenerallyA complaint verified by Former Premier Michael Misick of the Turks and Caicos Islands, claims hip- hop pioneers David Mays and Raymond Scott breached the Z & M Media LLC operating agreement, at Exhibit "A". The Former Premier, Mr. Mays, Mr. Scott and others, are believed to hold ownership interests in Z & M Media,… Continue Reading
Asset Search News Roundup: November 16, 2009
Posted in Asset Forfeiture, Asset Search News, Financial Institutions, Money LaunderingA tax filing at the "Financials Page" of its website reveals that the Alavi Foundation had assets in 2007 with a fair market value of nearly $88 million. Federal prosecutors meanwhile, filed an amended complaint last Thursday against The Alavi Foundation. It sought asset forfeiture, as reported by Reuters, The New York Times and an… Continue Reading
Anti-Money Laundering Bellwether Seeks Transparency Across The Globe
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money LaunderingThe Financial Action Task Force ("FATF"), is the bellwether for the fight against global money laundering and terrorist financing. Its leading role is recognized by U.S. lawmakers in the Bank Secrecy Act at 31 U.S.C. §5311, which states: "FATF’s Forty Recommendations on Money Laundering and the … Special Recommendations on Terrorist Financing are the recognized… Continue Reading
Asset Search News Roundup: November 9, 2009
Posted in Asset Search NewsThis “Asset Search News Roundup” scrutinizes offshore tax havens: A November 3rd press release describes “The Stop Outsourcing and Create Americans Jobs Act of 2011″, (bill H.R. 3338), introduced by Rep. Jerry McNerney (CA-11). The press release explains “the bill would increase penalties for corporations guilty of a variety of illegal transactions related to an… Continue Reading
Asset Search News Roundup: November 10, 2009
Posted in Asset Search News, Public Corruption, Securities FraudOn the radar this week is: former Police Commissioner Bernard Kerik’s guilty plea and following the money trail to Canada. After I wrote "Bernard Kerik Is Jailed While His Trial Is Delayed", the former police commissioner pleaded guilty to hiding assets in a tax fraud and public corruption charges. The details of Mr. Kerik’s November… Continue Reading
Seizing Assets In A Suspected Racial Profiling Scheme?
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingIn "Forfeiture & The DEA’s Asset Search" Donnie the former DEA Special Agent spoke about the effectiveness of asset forfeiture. In that article, Donnie said: ‘asset forfeiture… can stop those who supply pseudophedrine to the meth super labs and Mexican cartels‘. "A Strategy Of Seizing Sinaloa Drug Cartel Assets" also recently explained that asset forfeiture… Continue Reading
Asset Search News Roundup: November 4, 2009
Posted in Asset Search News, Financial Institutions, Money LaunderingThe October 22, 2008 "Asset Search News Roundup" mentioned the problem of money launderers concealing assets through money mules. The Federal Deposit Insurance Corporation issued its own alert last week about this same use of money mules: Click Here For A Complete View Of Last Week’s Alert A money mule making a wire transfer can… Continue Reading
Mr. Mastro Supposedly Transfers His Rolls Royce & Other Assets
Posted in Asset Search/Fraud Investigation, Bankruptcy“Bankruptcy Fraud, Money Laundering & Hidden Assets” outlines how a Chapter 7 debtor hid his Porsche and Rolls Royce and other assets. That debtor eventually pleaded guilty to violating 18 U.S.C. §152 (Concealment of assets; false oaths and claims; bribery) and one count of 18 U.S.C §157 (Bankruptcy fraud). “An Asset Search For Automobiles” similarly… Continue Reading