It is no surprise that foreign trusts can easily be used as elements to fraudulently protect or conceal beneficially owned assets. In some jurisdictions a trust may however, be considered void if the trust was “self-settled” (i.e. the grantor and beneficiary were found to be one and the same). Trust veils might also be pierced… Continue Reading
Category Archives: Asset Search/Fraud Investigation
Subscribe to Asset Search/Fraud Investigation RSS FeedRevisiting A Lawsuit Against Two Private Investigators
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy LawsLawsuit Claims PI’s Could Have Illegally Accessed Bank Info, explained that plaintiff Victoria Florea had filed two lawsuits against private investigators Nicole Bocra and Terry L. Gilbeau, president of Checkmate Investigative Services, Inc. The first of these lawsuits was voluntarily discontinued by plaintiff Florea and her lawsuit filed October 17, 2011, then took its place…. Continue Reading
An Asset Search Via Whistleblowers & Other Tipsters
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Money Laundering, Securities Fraud, Tax Fraud“Human Intelligence & The SEC’s Whistleblower Program” examines the government’s handling of tips in its search for assets concealed by securities fraudsters. The IRS Whistleblower Program too seeks tips from informants who help the IRS detect assets concealed in tax frauds. Besides these whistleblower programs, tips can often be generated in a variety of ways. … Continue Reading
Collecting Evidence In An Offshore Asset Search
Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support, Swiss BanksThe pretrial discovery phase of a divorce, bankruptcy or other legal matter is often the best chance one has to collect evidence of any assets hidden offshore. The attached letter rogatory* submitted to the Swiss court, was included in one divorcing wife’s pretrial effort to gather such evidence. At the time of pretrial discovery in… Continue Reading
Lawsuit Claims PI’s Could Have Illegally Accessed Bank Info
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy LawsOn January 12, 2011, my local counsel commenced a civil lawsuit in Puerto Rico against two private investigators. One of the defendants in the January 12th lawsuit* was Mr. Terry L. Gilbeau of Rocklin, California. Mr. Gilbeau is a newly admitted attorney, a Certified Fraud Examiner and president of the Checkmate Investigative Services Inc. private… Continue Reading
Human Intelligence & The SEC’s Whistleblower Program
Posted in Asset Search/Fraud Investigation, Securities FraudA Primer For Gathering Financial Intelligence pronounces “Human intelligence can be the only practical way to uncover some sophisticated asset concealment schemes.” The SEC Whistleblower Program sniffs out human intelligence by offering rewards for tips regarding securities fraudsters. A November 2011 report shows the Whistleblower Program generated 334 tips during the seven week period… Continue Reading
Suing Teodorin Nguema Obiang For His Malibu Mansion, Gulfstream Jet, Etc.
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public CorruptionAn October 25th press release describes a forfeiture effort pursued by the U.S. Government against Teodorin Nguema Obiang, Equatorial Guinea’s Minister of Forestry and Agriculture and the first son of Equatorial Guinea’s head of state. For me, this press release raises another issue: Could Equatorial Guinea nationals commence a lawsuit in the U.S. against Nguema… Continue Reading
Red Flags In One Of Washington State’s Largest Bankruptcies
Posted in Asset Search/Fraud Investigation, BankruptcyIn one of the largest bankruptcies in Washington state history, Chapter 7 trustee James F. Rigby Jr. is searching for assets that belong to Michael R. Mastro’s bankruptcy estate. The bankruptcy estate assets could include everything from life insurance polices to expensive jewelry and other portable valuable commodities. During the March 24, 2010 deposition of… Continue Reading
Mr. Mastro’s Bankruptcy Estate & His Self-Settled Trusts
Posted in Asset Search/Fraud Investigation, BankruptcyAlthough real estate developer Michael R. Mastro tried to protect assets by forming three trusts, the Court in Mr. Mastro’s bankruptcy case still found these trusts to be void. According to the Court’s May 28, 2010 order, the trusts were void as to Mr. Mastro’s creditors because the trusts were “self-settled” (i.e. created and funded… Continue Reading
Alleging Bank Liability For Holocaust-Era Looting In Hungary
Posted in Asset Search/Fraud Investigation, Financial Institutions, Holocaust-Era AssetsA class action complaint filed in Illinois alleges that five foreign banks are liable for the Holocaust-era looting of financial accounts belonging to Hungarian Jews. The heirs of some of the Hungarian Jews filed this complaint in the case known as Holocaust Victims of Bank Theft v. Magyar Nemzeti Bank, et. al., Index No. 10-CV-01884…. Continue Reading
MoneyLaundering.com Article About Looting With Impunity
Posted in Asset Search/Fraud Investigation, Money Laundering, Public Corruption, White-Collar Crime GenerallyIt is well known that corrupt politically exposed persons can conceal their illicit assets in money laundering circuits. My recent comments regarding politically exposed persons are included at MoneyLaundering.com’s August 9th article: International Groups Say Corrupt PEPs Can Often Loot With Impunity* August 9, 2011 By Colby Adams and Brian Monroe Three intergovernmental groups are… Continue Reading
Searching For Bank Accounts Secretly Opened In Switzerland
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Swiss Banks, Tax FraudAn IRS webpage identifies U.S. residents accused of engaging UBS AG to maintain secretly opened Swiss or other foreign bank accounts: (Click On The Image To View The Webpage)* One person cited by this webpage is Ms. Lucille Abrahamsen Jackson, of Hillside New Jersey. She reportedly concealed assets in a Swiss bank account by using… Continue Reading
Former Premier Misick Reportedly Subject To Worldwide Asset Freeze
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public Corruption"The Premier And The Hip-Hop Magazine" published by Forbes on March 3, 2010, observed that special prosecutor Helen Garlick had so far not filed public corruption or other charges against former Turks & Caicos Islands premier Michael Misick. The March 3rd article also pointed out that the former premier and his ex-wife U.S. actress LisaRaye… Continue Reading
Collecting Evidence Against An Ex- President Of Guatemala’s Congress
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Public CorruptionThe Ministerio Publico and the General Prosecutor of Guatemala assert that ex-president of Guatemala’s Congress Reuben Dario Morales Veliz, could have received graft payments in a public corruption scheme. Payments believed to be connected to the alleged corruption scheme may have been laundered through Guatemalan and U.S. bank accounts. To collect evidence regarding one of… Continue Reading
Secreting Money Via Internet Gambling On The Isle Of Man
Posted in Asset Search/Fraud Investigation, Money Laundering, White-Collar Crime GenerallyTo combat the secretion of money via laundering, the Isle of Man developed its own anti-money laundering handbook. Just a few of the the Island’s anti-money laundering regulations are: Criminal Justice (Money Laundering) Code 2007 Criminal Justice (Money Laundering) Code 2008 Proceeds of Crime Act 2008 Proceeds of Crime (Money Laundering) Code 2010 Proceeds of… Continue Reading
Seeking Holocaust-Era Restitution From A French Railway
Posted in Asset Search/Fraud Investigation, Financial Institutions, Holocaust-Era Assets"French Bank Agreement" indicates that Jewish Holocaust victims were paid restitution because French financial institutions had wrongfully seized Jewish-owned bank accounts during WWII. Holocaust victims who possess claims against the French railway Société Nationale des Chemins de Fer Français (SNCF), might similarly receive restitution. These claimants seek compensation from SNCF because it was reportedly paid… Continue Reading
Asset Search News Roundup: May 9, 2011
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, White-Collar Crime GenerallyToday’s “Asset Search News Roundup” is about politically exposed persons and a suspected laundering scheme. “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… Continue Reading
Concealing Assets In More Than 150 Trusts?
Posted in Asset Search/Fraud Investigation, Tax Fraud, White-Collar Crime Generally“A Doctor, A Lawyer & Bricks Of Cash” revealed the role a Liechtenstein trust had in maintaining a secret Swiss bank account. The February 3, 2010 superseding indictment of former attorney Micaela Renee Dutson and her husband Tony Dutson, too raised the issue of trusts and hidden assets. This indictment depicted below, accused the Dutsons… Continue Reading
Turning To Financial Investigators During Asset Recoveries
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Swiss Banks, Tax Fraud, Using Financial Investigators"An Asset Search In Geneva" outlines the typical legal remedies for recovering assets secreted at banks in Switzerland. The legal remedies range from civil proceedings brought to attach bank accounts to employing criminal law tools. These remedies are not just limited to Switzerland as they are often available in many countries around the world. Besides… Continue Reading
Identity Theft & An Impersonator On The Phone
Posted in Asset Search/Fraud Investigation, Financial Institutions, Identity Theft, White-Collar Crime GenerallyThe following fact pattern has been changed for privacy reasons: Robert received dunning letters and phone calls from debt collectors because he supposedly owed more than $50,000 dollars in credit card debt. The debt collectors alleged that various financial institutions had issued Robert seven credit cards many years ago. These debt collectors too claimed that… Continue Reading
Using Red Flags To Recover Ponzi Proceeds
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud"Recognizing Hidden Assets, The Red Flags" explained that bankruptcy trustees, tax authorities, financial intelligence units, etc. search for concealed assets by looking for red flags of fraud or other illicit acts. Lawsuits brought by investors damaged by Ponzi schemes also may focus on red flags, as described at "Florida Court Unlikely To Find Wachovia, Mastercard… Continue Reading
Following The Money Trails From Marital Assets To Nazi-Looted Art
Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support, Holocaust-Era Assets, Money Laundering, Tax FraudNazi-looted art, bankruptcy estate assets, marital assets and almost anything else can conceivably be secretly transferred by common methods. Just a few of the common methods include the use of intermediaries (i.e. nominees), forgeries, portable valuable commodities and multiple jurisdictions to fraudulently transfer or hide assets. By studying these kinds of methods, the continuing legal education… Continue Reading
Mr. Hecker’s 10 Year Sentence For Hiding Assets & Fraud
Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support, White-Collar Crime GenerallyAccording to his wife’s September 28, 2009 affidavit, Dennis Hecker had stopped financially supporting her and was hiding assets. Dennis Hecker’s wife therefore asked Judge Jay M. Quam of Hennepin County Minnesota, to impute income to Mr. Hecker and to issue an interim order of spousal maintenance and child support. As more fully set forth… Continue Reading
Seeking Swiss Bank Records At The Time Of A Divorce
Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Swiss BanksAsset protection can be as basic as forming shell companies in order to secretly maintain monies in Swiss bank accounts. One divorcing husband who carried out this sort of scheme is described at "An Asset Search In Switzerland". This divorcing husband had used a nominee, (i.e. an intermediary), to establish shell companies and then instructed… Continue Reading