- “Seattle’s Ubiquitous Asset Protection Lawyer, Ms. Mary Simon” outlines how an attorney was thought to have employed Belizean trusts as critical components in asset protection plans. U.S.A. v. Arthur Lee Ong, U.S. District Court for the District of Hawaii, 09-CR-00398 meanwhile, illustrates the probable abuse of domestic trusts in an effort to “protect” assets from the IRS. As his superseding indictment shows, Mr. Ong was accused of secreting undeclared revenue in nominee bank accounts opened in the names of his two trusts, Magnum Investments Trust and Aloha Ventures. Mr. Ong had also allegedly hidden rental properties by titling the same in the name of Aloha Ventures.
- “Link Charts In An Asset Search” advises that a visual analysis of data may help one follow a money trail. This kind of analysis is supplied by the link chart from page 13 of the 2010-2011 Egmont Group Annual Report.¹ The link chart documents a money laundering circuit established by determined criminals. As the link chart partly demonstrates, the criminals had transferred their illicit proceeds through multiple jurisdicitions, such as Spain, Greece and the Finnish cities of Helsinki and Tampere:
¹Link Chart & 2010-2011 Egmont Group Annual Report, Courtesy of The Egmont Group.
Copyright 2012 Fred L. Abrams