Suspected drug kingpins and hiding assets by way of nominees. “Obama Slaps Sanctions On Alleged International Drug Traffickers“, notes that a letter by President Obama just deemed an Albanian, Mexican national and an Afghani, as drug kingpins. These supposed kingpins are Naser Kelmendi, Jose Antonio Soto Gastelum and Sayid Wzir Shar. On June 1st, the Office of… Continue Reading
Category Archives: Drug-Related Assets
Subscribe to Drug-Related Assets RSS FeedAsset Search News Roundup: April 8, 2012
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Swiss Banks, Tax FraudA March 14th Reuters article outlined the New York federal indictments filed in U.S.A. v. Beck, 12-cr-0211 and U.S.A. v. Thomann, 12-cr-0212. The indictments respectively claimed that Swiss financial advisers Beck and Thomann participated in a conspiracy to commit tax fraud. Each purportedly hid more than $100 million in assets from the IRS with the alleged assistance of: multiple jurisdictions;… Continue Reading
Asset Search News Roundup: October 10, 2011
Posted in Asset Search News, Drug-Related Assets, Money Laundering, Tax FraudTwelve new peer review reports and laundering assets by purchasing real estate: On September 12th, the Organisation for Economic Co-operation and Development announced its 12 new peer review reports regarding assets hidden in international tax evasions. A press release discussing the reviews, mentions trusts and bearer shares:”In all 12 new reviews, the most common deficiencies… Continue Reading
Asset Search News Roundup: September 22, 2011
Posted in Asset Search News, Drug-Related Assets, Money Laundering“Bodies hanging from bridge in Mexico are warning to social media users” highlights the heinous murders of two bloggers in Neuvo Laredo, Mexico. As “Mexico murders show how Internet empowers, threatens” too explains, the bloggers are believed to have been killed for reporting on Mexican drug cartels. The August 2011 National Drug Threat Assessment also… Continue Reading
Asset Search News Roundup: January 4, 2011
Posted in Asset Search News, Drug-Related Assets, Identity Theft, Money Laundering, White-Collar Crime Generally“Secreting Assets Without A Border Trace” shows the role portable valuable commodities like diamonds can have in a scheme to hide assets. This January 4th “Asset Search News Roundup” reviews two more ways assets can be hidden. Bulk Cash Smuggling A December 16th press release refers to one case now being prosecuted which allegedly involved… Continue Reading
Asset Search News Roundup: September 26, 2010
Posted in Asset Forfeiture, Asset Search News, Divorce & Child Support, Drug-Related Assets, Money Laundering, Tax FraudDetecting crimes during a marital asset search and Mexico’s ubiquitous drug cartel violence, are examined by the September 26th "Asset Search News Roundup". Any crimes committed by a divorcing spouse hiding assets would conceivably be detected during a marital asset search. As the following articles reveal, a divorcing spouse hiding assets might possibly face a… Continue Reading
Fighting Mexico’s Drug Cartels By Funding A Financial Intelligence Unit
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Assets & Narco-Trafficking, Drug-Related Assets, Money LaunderingAn April 20, 2010 statement from the U.S. Attorney for the District of Arizona memorializes the U.S. Department of Justice strategy for fighting the scourge of Mexico’s drug cartels. The April 20th statement indicates that the Department of Justice concentrates on: gathering intelligence about the cartels; targeting cartel leaders for extradition and seizing illicit assets;… Continue Reading
Asset Search News Roundup: August 31, 2010
Posted in Asset Search News, Drug-Related Assets, Securities Fraud, Swiss BanksSecurities fraudster Trevor Cook, assets that might have been misappropriated from former East Germany, and over $2 million is interdicted at a U.S.-Mexican border crossing: Ex-Minneapolis money manager and securities fraudster Trevor Cook was sentenced a week ago to serve twenty-five years in prison forviolating 18 U.S.C. §1341 (mail fraud) and 26 U.S.C. §7201 (tax… Continue Reading
Asset Search News Roundup: August 14, 2010
Posted in Asset Search News, Drug-Related Assets, Financial Institutions, Money LaunderingThe August 14th “Asset Search News Roundup” mentions money laundering: So far this summer the Financial Action Task Force published evaluations of the anti-money laundering efforts undertaken by Brazil, India and Saudi Arabia. The Financial Action Task Force is a leading anti-money laundering organization, as described at “Anti-Money Laundering Bellwether Seeks Transparency Across The Globe“…. Continue Reading
Asset Search News Roundup: August 5, 2010
Posted in Asset Search News, Drug-Related Assets, Public Corruption, Securities Fraud425 pounds of hidden marijuana; Transparency International; and the defenses to a clawback lawsuit; are discussed at the August 5th "Asset Search News Roundup": Federal agents at a U.S.-Mexican land crossing interdicted more than 425 pounds of marijuana on July 24, 2010. As "Marijuana Encased in Cement Seized by CBP" explains, the marijuana had been… Continue Reading
Asset Search News Roundup: June 24, 2010
Posted in Asset Forfeiture, Asset Search News, Drug-Related Assets, Money Laundering, Securities FraudDiscussed today are Arizona’s attempt to stop cross-border crime and Minneapolis Ponzi schemer Trevor Cook: “Goddard launches plan to fight money laundering; Rocky Point Police Chief ambushed” states that Arizona Attorney General Terry Goddard has adopted a new anti-money laundering plan. This plan is part of Arizona’s effort to combat narco-traffickers engaged in various cross-border… Continue Reading
Asset Search News Roundup: May 26, 2010
Posted in Asset Search News, Drug-Related Assets, Securities FraudAn alleged Guatemalan drug lord and Peter Madoff are the subjects of the May 26th “Asset Search News Roundup”: “Suing Peter Madoff For Bernard Madoff’s Securities Fraud” described plaintiffs’ summary judgment motion pending against Peter Madoff in The Lautenberg Foundation v. Madoff, 09-Civ-00816. Pages 8-10 of a May 20th reply memorandum shows that the Madoff plaintiffs… Continue Reading
Wachovia Bank & Its Bank Secrecy Act Issues
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Financial Institutions, Money Laundering, Securities FraudWachovia, one of the world’s largest international banks, is still defending itself against the Florida civil complaint described at my post "Lawsuit Claims Wachovia Bank Facilitated Alleged Ponzi Scheme". The complaint essentially claims that Wachovia’s anti-money laundering program under the Bank Secrecy Act had failed to detect money laundering. It was brought by the apparent… Continue Reading
Asset Search News Roundup: March 31, 2010
Posted in Asset Search News, Drug-Related Assets, Money Laundering, Public CorruptionPrime Minister Silvio Berlusconi of Italy and the Egmont Group of Financial Intelligence Units are featured in the March 31st "Asset Search News Roundup": As mentioned on March 10th by "Italy: Law to Protect Berlusconi in Court", Prime Minister Berlusconi’s anticipated public corruption trials have been delayed. "It Didn’t Work for The Beatles, Either" had… Continue Reading
Asset Search News Roundup: February 28, 2010
Posted in Asset Forfeiture, Asset Search News, Drug-Related Assets“A Strategy Of Seizing Sinaloa Drug Cartel Assets” is about the U.S. Department of Justice’s use of asset forfeiture against Mexico’s drug cartels. U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) pursues this forfeiture policy alongside the Department of Justice. As explained by my February 11, 2009 “Asset Search News Roundup“, the OFAC can list… Continue Reading
Transnationally Tracking The Assets Of Terrorists
Posted in Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingThe January 6th article “Three in al Qaeda drug case plead not guilty in NY” discussed suspected terrorist financing by some West African men. According to a December 18, 2009 press release, the criminal case against these men involved the alleged transnational funding of Al Qaeda terrorists through narco-trafficking. “Terrorist Financing, Money Laundering & Financial… Continue Reading
Seizing Assets In A Suspected Racial Profiling Scheme?
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingIn "Forfeiture & The DEA’s Asset Search" Donnie the former DEA Special Agent spoke about the effectiveness of asset forfeiture. In that article, Donnie said: ‘asset forfeiture… can stop those who supply pseudophedrine to the meth super labs and Mexican cartels‘. "A Strategy Of Seizing Sinaloa Drug Cartel Assets" also recently explained that asset forfeiture… Continue Reading
Asset Search News Roundup: October 23, 2009
Posted in Asset Search News, Drug-Related Assets, Public CorruptionA U.S. Army Sergeant pleads guilty to taking bribes, then trying to conceal them in a money laundering conspiracy and $32.8 million in U.S. currency is interdicted because of “Project Coronado”: *A U.S. Department of Justice press release describes the conviction of Army Sergeant Ana C. Chavez for a public corruption scheme which had bribery… Continue Reading
Asset Search News Roundup: October 17, 2009
Posted in Asset Search News, Drug-Related Assets, Holocaust-Era AssetsHolocaust-era assets and drug-related assets are both covered by this “Asset Search News Roundup”: *My article “Searching For Nazi-Looted Art” described the Holocaust-era assets / contested provenance case ofBakalar v. Vavra, Index No. 05-CV-3037 (S.D.N.Y.). The trial court in Bakalar rejected the claim that Egon Schiele’s “Seated Woman With Bent Left Leg (Torso)” was Nazi-looted… Continue Reading
A Strategy Of Seizing Sinaloa Drug Cartel Assets
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingThe U.S. Department of Justice believes that seizing assets from Mexican drug cartels can generally help combat cross-border murder, kidnapping, robbery, etc. Through the person of the Criminal Division’s Assistant Attorney General Lanny A. Breuer, the Department of Justice reiterated its desire to seize the illicit assets of illegal narco-traffickers. Assistant Attorney General Breuer stated… Continue Reading
Asset Search News Roundup: June 13, 2009
Posted in Asset Search News, Drug-Related AssetsA financial transfer through multiple jurisdictions which lacks any economic benefit, may especially be a red flag that assets have been hidden. Although a variety of people sometimes use multiple jurisdictions to hide assets, this "Asset Search News Roundup" is about the front and / or shell companies reportedly used by the Fabio Enrique Ochoa… Continue Reading
Interdicting The Assets Of Mexico’s Narco-Traffickers
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Money LaunderingNarco-traffickers who conduct their illicit activities across the U.S.-Mexican border may fall under the Foreign Narcotics Kingpin Designation Act (21 U.S.C. § 1901-1908, 8 U.S.C. § 1182) and Executive Order 12978 of October 21, 1995. Assets are frozen under the Foreign Narcotics Kingpin Designation Act (“the Kingpin Act”), if they are subject to U.S. jurisdiction and belong to… Continue Reading
Asset Search News Roundup: February 11, 2009
Posted in Asset Search News, Drug-Related AssetsThe U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) is the focus of this “Asset Search News Roundup”. OFAC administers economic and trade sanctions against international drug traffickers, terrorists and certain countries under Presidential national emergency powers or federal laws. In order to impose such economic sanctions, OFAC or other governmental authorities search for assets… Continue Reading
A Tax Fraud & Identity Theft From Miami
Posted in Asset Search/Fraud Investigation, Drug-Related Assets, Financial Institutions, Identity Theft, Money Laundering, Tax Fraud, Tax Fraud & ID Theft From MiamiThe following occurred over a four month period during 2002, and has been supplied by an investigator I have worked with. Some of it has been changed / sanitized for privacy reasons: The Tax Fraud As part of his tax fraud, “Mr. Wallace” contacted a Cayman Island bank by mail in order to open a… Continue Reading