The website of Capital Asset, Inc. at www.bulletproofasset.com, claims that forming companies in Nevada, or Wyoming, or Delaware is preferable because: “Do you know that partnerships, corporations, LLCs in most states make you completely visible? If a judge can see your assets, he can seize them.”
Capital Asset, Inc. presumably recommends forming companies in Nevada, Wyoming or Delaware because in these states there are little or no reporting requirements about a company’s shareholders, managers, etc. As many prosecutors and financial investigators already know, the kind of corporate formation services offered by Capital Asset, Inc. can easily be used by criminals determined to hide their illicit assets.
This lack of transparency in Nevada, Wyoming and Delaware can be an enormous money laundering risk, as these states may be a haven for those who would form a shell company and then use the same to open a nominee bank account. Once such a nominee bank account is opened, beneficially owned funds can be maintained in it with complete anonymity. Wyomingcorporations.us is one of the countless corporate formation businesses that seem to be trying to cash in on this lack of corporate transparency.
It advises that a Wyoming company’s “Members are not reported!” and also offers the Wyoming “virtual office”, where for $400 dollars one can easily establish a supposed Wyoming office address, with a virtual office phone and fax number. Perhaps even worse is the comment at the Wyomingcorporatons.us Web site that: “Now accounts for Wyoming corporations can be formed anywhere, and the brick-and-mortar type bank isn’t a necessity. Internet banks are a fine solution.”
(Last Edited May 13, 2012)
Copyright 2010 Fred L. Abrams