Asset Search News Roundup: November 10, 2009
On 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 5, 2009 guilty plea are described by Reuters in "Ex-head of NY police pleads guilty to corruption". His sentencing before U.S. District Court Judge Stephen Robinson, is set for February 18, 2010.
- My October 29th "Asset Search News Roundup" named Switzerland, Panama, Costa Rica and the United Kingdom as jurisdictions which could have been used by some Minneapolis money managers to launder the proceeds of a suspected securities fraud.
Following the money trail of this suspected securities fraud appears to have also led to Canada, as explained by the article "$300 million Oxford trail leads into Canada".
Perhaps most notable, is that each one of the above-mentioned locations is generally considered by financial investigators to be a high-risk geographical location. This means that a nexus to any one of them, can be a red flag for money laundering.
Copyright 2009 Fred L. Abrams
