"A Strategy Of Seizing Sinaloa Drug Cartel Assets" is about the U.S. Department of Justice’s use of asset forfeiture against Mexico’s drug cartels. U.S. Treasury’s Office of Foreign Assets Control ("OFAC") pursues this forfeiture policy alongside the Department of Justice. As explained by my February 11, 2009 "Asset Search News Roundup", the OFAC can list… Continue Reading
Monthly Archives: February 2010
A Doctor, A Lawyer & Bricks Of Cash In Switzerland
Posted in Asset Search/Fraud Investigation, Financial Institutions, Swiss Banks, Tax Fraud, White-Collar Crime Generally“Smuggling Cash Across Iraq’s Borders” mentioned Donnie the former DEA agent who had trained Iraqi border personnel to interdict bulk-cash smugglers. To help detect these smugglers, governmental authorities also use declaration forms to track the cross-border movement of cash and monetary instruments. As mentioned by my April 13, 2009 “Asset Search News Roundup“, one such… Continue Reading
Asset Search News Roundup: February 21, 2010
Posted in Asset Forfeiture, Asset Search News, Public Corruption, Tax Fraud, White-Collar Crime GenerallyToday’s "Asset Search News Roundup" is about the New York case against the ex-president of Guatemala, Alfonso Portillo and it also mentions the sentencing of New York former top cop Bernard Kerik: The one-count indictment unsealed on January 26, 2010 in the case against ex-president Portillo is available here. Mr. Portillo’s indictment alleges that he… Continue Reading
The Grosz Case & Gallery Owner Curt Valentin
Posted in Asset Search/Fraud Investigation, Holocaust-Era AssetsThe plaintiffs’ complaint in Grosz v. The Museum of Modern Art had alleged that The Museum of Modern Art (MoMA") was the wrongful transferee of three Holocaust-era paintings. The Court’s Order dismissed this contested provenance complaint last month on the ground that the complaint was barred by the statute of limitations. Since the Grosz complaint… Continue Reading
Asset Search News Roundup: February 14, 2010
Posted in Asset Search News, Financial Institutions, Money Laundering, Securities FraudThis "Asset Search News Roundup" contains a copy of the indictment filed against Minneapolis auto magnate Dennis Hecker. It also discusses the securities fraud complaints pending in New York against Bank of America. A press release from the U.S. Department of Justice announced that Mr. Hecker was indicted last Wednesday for allegedly hiding his… Continue Reading
The High-Risk Geographical Location Of Delaware
Posted in Asset Search/Fraud Investigation, Money Laundering"High Risk Locations & An Asset Search" and "Domestic Shell Companies & An Asset Search" explain that Delaware-based shell companies can especially pose a money laundering risk. My other articles related to this same subject are: Following The Money Trail From Poland To Delaware Warsaw Prosecutors Eye Possible Money Laundering At 50 Platowcowa Street Breach… Continue Reading
Asset Search News Roundup: February 7, 2010
Posted in Asset Search News, Financial Institutions, Money Laundering, Public Corruption, Swiss Banks, White-Collar Crime GenerallyThe Wall Street Journal’s February 4, 2010 article "Switzerland Freezes Freed Duvalier Assets", is about alleged illicit assets blocked in Switzerland. The blocked assets have been maintained in Swiss bank accounts and are believed to originate from Haiti’s public coffers. These public coffers were reportedly looted by former politically exposed person Jean-Claude "Baby Doc" Duvalier,… Continue Reading
New Jersey Lawsuit Involving Former Premier Misick Settles
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public Corruption, White-Collar Crime GenerallyThe Court announced yesterday that there had been a settlement in the New Jersey case involving Former Premier Michael Misick of the Turks and Caicos Islands. The settlement is mentioned at the Court’s Order of Dismissal and by the current docket report. According to various court filings, the Former Premier could have been a beneficial… Continue Reading
Customer Identification At UBS AG And Some Other Banks
Posted in Asset Search/Fraud Investigation, Bank Customer Identification & Assets, Financial Institutions, Money Laundering, Swiss Banks, Tax FraudBy using customer identification or “know your customer” rules, banks try to prevent money laundering and other financial frauds. This use of customer identification rules by banks is contemplated at the Fifth Recommendation of the Financial Action Task Force. The Fifth Recommendation urges banks to diligently verify a customer’s identity and to record the true… Continue Reading