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Asset Search Blog Financial intelligence, financial fraud investigation and legal strategy for recovering hidden assets

Asset Search News Roundup: May 9, 2011

By Fred Abrams on Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, White-Collar Crime Generally

Today’s “Asset Search News Roundup” is about politically exposed persons and a suspected laundering scheme.

  1. “FAQ” webpage focuses on the legal tools for freezing illicit assets dictators or other politically exposed persons might hide in Switzerland.  Via such tools, Swiss authorities recently froze $1 billion in assets believed to be connected to either Muhammad Hosni Mubarak, Muammar Gaddafi, or Zine al-Abidine Ben Ali.  Articles referring to this asset freeze are at Reuters and the BBC.
  2. A press release and / or restraining order suggest that 76 bank accounts across the globe were allegedly used in a scheme to launder illicit gambling proceeds.  A civil complaint related to the case and an indictment are chasing at least $3 billion through asset forfeiture or from money laundering penalties.  The indictment claims that the principals of three Internet poker companies, (i.e. PokerStars, Full Tilt Poker and Absolute Poker), participated in the suspected laundering scheme.  An April 15, 2011 video from FNN Online also describes the indictment.

 

(Last Edited January 22, 2012)

Copyright 2011-2012 Fred L. Abrams