Ultra-high net worth divorcing spouses, kleptocrats, bankruptcy debtors, judgment debtors, etc., could easily conceal their beneficially owned assets by utilizing nominee incorporation services (“NIS”). Pages 63-64 of The 2007 National Money Laundering Strategy, in essence divulge that some NIS promote the creation of non-transparent bank accounts and shell companies.
Page 64 expressly says: “The FBI believes that U.S. shell companies and bank accounts arranged by certain NIS firms are being used to launder as much as $36 billion a year from the former Soviet Union. It is not clear whether these NIS firms are complicit in the money laundering abuse.” One apparent NIS is Capital Asset, Inc. As described at “If A Judge Can See Your Assets, He Can Seize Them”, Capital Asset, Inc. recommends forming companies in Nevada, Wyoming or Delaware.
It presumably does so because these states have little or no reporting requirements concerning a company’s shareholders, managers, etc. A Capital Asset, Inc. wepage additionally advocates adopting an offshore asset protection plan. In support of the foregoing, the webpage incredibly claims:
“The Feds can and will seize or freeze any asset or bank account without notice, due process of law, right to counsel, your day in court, regardless of your innocence or guilt, and they’ll do it with a smile knowing the more money they seize the more likely they are to get promoted.”
(Edited May 13, 2012)
Copyright 2012 Fred L. Abrams