Monthly Archives: January 2010

Asset Search News Roundup: January 29, 2010

By Fred Abrams on January 29th, 2010 Posted in Asset Search News, Securities Fraud

The January 29th "Asset Search News Roundup" talks about HealthSouth’s ex-chief Richard Scrushy and includes the most recent remarks of Assistant Secretary For Terrorist Financing David Cohen: "HealthSouth Founder Scrushy Is Acquitted of Fraud" explained that Mr. Scrushy was acquitted in June of securities fraud and other criminal law violations. Mr. Scrushy was however, sentenced… Continue Reading

Lawsuit Claims Wachovia Bank Facilitated Alleged Ponzi Scheme

By Fred Abrams on January 25th, 2010 Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud

The securities fraud complaint in Nesbeth v. USMIO, Docket No: 09−cv−62042−WJZ, alleges that Wachovia Bank caused damage to the supposed victims of a Ponzi scheme. This complaint, (referred to hereinafter as "the Florida Complaint"), also asserts claims against: MasterCard Worldwide, Mr. David Smith of Jamaica, Overseas Locket Corporation formed in Jamaica, Former Premier Michael Misick of… Continue Reading

Asset Search News Roundup: January 21, 2010

By Fred Abrams on January 21st, 2010 Posted in Asset Search News, Securities Fraud

Former Turks and Caicos premier Michael Misick is the subject of today’s "Asset Search News Roundup". The Former Premier is the ex-husband of U.S. actress and model LisaRaye McCoy and his pending New Jersey litigation is discussed at "Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud" & "Could Former Premier Misick Face U.S. Forced… Continue Reading

Financial Fraud Trends For The Year 2010

By Fred Abrams on January 18th, 2010 Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering

Governmental authorities sometimes use data mining and money laundering typologies to detect financial fraud trends. An earlier financial fraud trend we will undoubtedly see in 2010, is beneficial owners hiding assets through nominee bank accounts. Another likely continuing trend for 2010, is the use of Delaware-based shell companies to facilitate money laundering in some cases…. Continue Reading

Asset Search News Roundup: January 15, 2010

By Fred Abrams on January 15th, 2010 Posted in Asset Search News, Financial Institutions, Money Laundering, Swiss Banks, Tax Fraud

The Association of Certified Anti-Money Laundering Specialists is a private sector anti-money laundering credentialing organization and Colby Adams is a reporter affiliated with it. Mr. Adams telephoned me this week to discuss my thoughts about abusive offshore tax avoidance schemes and The "John Doe" Summons Case, which was settled with UBS AG. My comments on… Continue Reading

Asset Search News Roundup: January 9, 2010

By Fred Abrams on January 9th, 2010 Posted in Asset Search News, Bankruptcy, Divorce & Child Support, Securities Fraud

The January 9th "Asset Search News Roundup" provides an update on a couple of matters from Minnesota: Both "Money Laundering By Minneapolis Managers?" and "Associated Bank Sued For Supposedly Ignoring Red Flags" described pending civil complaints against suspected securities fraudsters Trevor Cook, Patrick Kiley and their companies. Another complaint filed against them was commenced on… Continue Reading

Could Former Premier Misick Face U.S. Forced Collection Proceedings?

By Fred Abrams on January 5th, 2010 Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public Corruption, White-Collar Crime Generally

At first glance, there was nothing unusual about the lawsuit filed in New Jersey involving Former Premier Michael Misick of the Turks and Caicos Islands. The complaint in the lawsuit executed by the Former Premier, claimed that Hip Hop Weekly Magazine founders David Mays and Raymond Scott had misappropriated the magazine’s cash. Mr. Mays and… Continue Reading

Alleged Irregularities At Elektrim Lead Warsaw Prosecutors To Delaware

By Fred Abrams on January 3rd, 2010 Posted in Alleged Irregularites In Warsaw, Asset Search/Fraud Investigation, Securities Fraud, White-Collar Crime Generally

The Polish power and telecommunications company Elektrim SA has been in bankruptcy proceedings since 2007. It still controls, (and owns an estimated 47% of), Zespol Elektrowni Patnow-Adamow-Konin SA ("ZE PAK"). ZE PAK generates about 8.5% of all of Poland’s electricity, as was just mentioned by "Enea, ‘Several’ Others Bid for Polish Power Group PAK (Update2)". … Continue Reading

Asset Search News Roundup: January 1, 2010

By Fred Abrams on January 1st, 2010 Posted in Asset Search News, Financial Institutions, Identity Theft, Money Laundering, Privacy Laws

The "Asset Search News Roundup: January 26, 2009 " mentioned that Heartland Payment Systems was subjected to what might have been the biggest credit / debit card information theft in the U.S. Mr. Albert Gonzalez was ultimately indicted for that privacy law violation / computer intrusion and other ones. In fact, Mr. Gonzalez pleaded guilty… Continue Reading