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Asset Search Blog Investigating & Recovering Hidden Money & Other Assets

Asset Search News Roundup: November 14, 2012

Posted in Asset Search News, Bankruptcy, White-Collar Crime Generally

This Asset Search News Roundup reports on Michael and Linda Mastro’s supposed concealment of two diamond rings-

The October 25, 2012 indictment of Michael Mastro and his wife Linda, alleges violations of money laundering and bankruptcy fraud laws.  Among other things, the indictment accuses the Mastros of fraudulently hiding portable valuable commodities, such as a platinum ring with a 27.80 carat pear shape diamond and one 14 karat white gold ring with a 15.93 carat round diamond.

These rings might have been parked offshore, as suggested by “Mastros’ $1.4M diamonds now reportedly in France.”  According to page 15, ¶44 of the October 25th indictment, Linda Mastro falsely testified during her March 24, 2010 deposition, about the whereabouts of the rings.  At the deposition, Linda Mastro stated she brought the rings to Italy on or about November 2009.  As page 33, lines 15-25 of the deposition transcript show, Linda Mastro too asserted she could not recall if she left the rings in Italy:

(Click Above To Read The Entire Deposition Transcript)

Copyright 2012 Fred L. Abrams