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Asset Search Blog Investigating & Recovering Hidden Money & Other Assets

Asset Search News Roundup: October 13, 2010

Posted in Asset Search News, Asset Search/Fraud Investigation, Money Laundering, Tax Fraud

This “Asset Search News Roundup” is about a few companies currently offering asset protection over the Internet. The first of these companies is Panama Legal, S.A.  Its Web site says that “Bullet Proof Asset Protection” is attainable by forming a “Panama Bearer Share Corporation“.  “Bearer Shares & An Asset Search“, meanwhile mentions that bearer shares may be used with shell companies, multiple jurisdictions, etc., to launder money.

Capital Asset, Inc. is yet another company marketing asset protection through the Internet.  It seems to especially display contempt for the rule of law, as indicated by “If A Judge Can See Your Assets, He Can Seize Them“.  Its Web page entitled “Asset Protection For Doctors”, corroborates this point by stating: “The only way to guarantee you cannot lose anything to a lawsuit is to have asset protection where no judge or attorney can find or see what you own, thus they cannot seize your assets.

Asset Protection Alliance, Inc. also refers to the judiciary in its asset protection Web page: “Remember, if a federal judge can find an asset, he can seize it. Conversely, what he can’t find, or doesn’t know about, he can’t touch.“  This Web page too supplies a fact pattern which, (under certain circumstances), could be a money laundering typology.  According to the fact pattern, a beneficial owner named “Gino” allegedly has no IRS tax or other worries because he apparently conceals his assets via an offshore debit card, nominees and a foreign bank account.

Copyright 2010 Fred L Abrams