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Category Archives: Financial Institutions

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Receiver Says To Associated Bank, Show Me The Money

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, White-Collar Crime Generally

The September 2009 Asset Search Blog article “Money Laundering By Minneapolis Money Managers?”, raised the issue of whether Associated Bank had violated federal anti-money laundering regulations.  This article discussed whether an account opened at Associated Bank in the name of Crown Forex, LLC, had been used to launder Ponzi scheme proceeds.  It pointed out that… Continue Reading

Asset Search News Roundup: December 14, 2012

Posted in Asset Search News, Financial Institutions, Money Laundering, Securities Fraud

A whistleblower claim against Deutsche Bank and HSBC’s settlement with U.S. Treasury: At “Human Intelligence & The SEC’s Whistleblower Program”, Labaton & Sucharow partner Jordan A. Thomas examines the critical role whistleblower tips will have in the SEC’s detection of fraudsters / recovery of assets.  One example of the foregoing might be the whistleblower tip… Continue Reading

Asset Search News Roundup: October 24, 2012

Posted in Asset Search News, Financial Institutions, Public Corruption, White-Collar Crime Generally

Recovering corruption proceeds and related issues: At a news release, the Organisation for Economic Co-operation and Development notes that in twelve years, French authorities had just five convictions in cases arising out of the bribery of foreign officials.  The news release claims that French authorities have a “lacklustre response” to cases involving actual or alleged… Continue Reading

Seminar to Discuss $104 Million IRS Reward & Blowing the Whistle

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Securities Fraud, Swiss Banks, Tax Fraud

As demonstrated by the $104 million dollar IRS award to UBS Swiss bank whistleblower Bradley Birkenfeld, one may hit a home run by blowing the whistle.  Some however, face criminal charges or other extraordinary difficulties because of their whistleblowing. The New York City Bar Association seminar “The Ins & Outs Of Recovering Assets Via Whistleblowers… Continue Reading

Asset Search News Roundup: September 13, 2012

Posted in Asset Search News, Financial Institutions, Swiss Banks, Tax Fraud

Swiss bankers in the news- Former UBS Swiss banker Bradley Birkenfeld’s record-breaking $104 million dollar IRS whistleblower award is analyzed by Swiss fume at U.S. “hypocrisy” over whistleblower’s payout; and at the National Whistleblower Center’s website. The August 27, 2012 article Julius Baer Says Employee Stole German Offshore Client Data noted that “U.S. and European authorities are analyzing… Continue Reading

Suing UBS AG Over Secret Swiss Bank Accounts

Posted in Asset Search/Fraud Investigation, Financial Institutions, Swiss Banks, Tax Fraud

As a FAQ webpage demonstrates, qualified intermediary withholding agreements, (“qi agreements”), with the IRS can obilgate foreign financial institutions to withhold tax monies and report about a U.S. taxpayer’s offshore financial account.  The qi agreement between the IRS and UBS AG played a critical role in the UBS John Doe summons case.  A February 6, 2009 declaration filed in… Continue Reading

Asset Search News Roundup: August 26, 2012

Posted in Asset Search News, Financial Institutions, Swiss Banks, Tax Fraud

Hiding assets in secret foreign bank accounts: On July 20, 2012, the  U.S. Court of Appeals for the Fourth Circuit, issued its decision in USA v. J. Bryan Williams, Opinion 102230.U.  The decision concentrated on former senior Mobil Corp executive Bryan Williams, who earlier applied two Swiss bank accounts to hide $7 million from the… Continue Reading

Swiss Bank Secrecy Seems Poised For Another Hit

Posted in Financial Institutions, Money Laundering, Swiss Banks

Reporter Lynnley Browning’s 2009 article “Names Deal Cracks Swiss Bank Secrecy” mentioned the settlement of the UBS John Doe Summons case.  Pursuant to that settlement, UBS supplied the IRS with the names of about 4,450 suspected U.S. tax cheats alleged to have opened secret Swiss bank accounts.  The settlement was reached through two agreements, one of… Continue Reading

Letters Rogatory As An Asset Detection Tool

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions

Letters rogatory can be an invaluable tool for detecting assets concealed in multiple jurisdictions.  They may be utilized to gather competent evidence from foreign financial institutions and a variety of  witnesses residing offshore.  “Asset Search Tips For Divorce & Child Support Cases” talked about detecting assets by employing letters rogatory.  That post said: “Many times a… Continue Reading

Asset Search Litigation To Stay In Puerto Rico

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy Laws

The complaint filed in Puerto Rico at Florea v. Bocra, U.S. District Court, District of Puerto Rico, Index No. 11-02102, basically alleges that private investigator Terry L. Gilbeau of Checkmate Investigative Services, Inc. and / or Virginia-based private investigator Nicole Bocra, had improperly searched for assets thought to be connected to a divorce. As more fully… Continue Reading

Unmasking Beneficial Owners To Identify Their Assets

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Swiss Banks, Tax Fraud

Laundered Assets analyzes the way a beneficial owner secreted undeclared revenue in a “back-to-back” loan, (i.e. a fully collateralized loan in which the borrower and lender are one and the same).  “True Beneficial Owner” facilitated this money laundering scheme by putting a Liberian shell company to work as a nominee / intermediary.  A chart at Laundered Assets shows that True… Continue Reading

Asset Search News Roundup: March 28, 2012

Posted in Asset Search News, Financial Institutions, Identity Theft, White-Collar Crime Generally

The criminal complaint filed in U.S.A. v. Brandon Lee Price, U.S. District Court, Western District of Pennsylvania, Case No. 12-152 M, essentially claims that Microsoft billionaire Paul Allen was the target of an identity theft.  As reported at “Identity Thief Targets Billionaire Allen”, suspected identity thief Brandon Lee Price of Pittsburgh supposedly tried to illegally transfer $15,000 from Mr…. Continue Reading

Searching For Assets Via Terrorist Financing Red Flags

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering

“Terrorist Financing, Money Laundering & Financial Intelligence Units” and “Transnationally Tracking The Assets Of Terrorists” discusses the Egmont Group.  The Financial Intelligence Units of the Egmont Group search for assets secreted by terrorist financiers and money launderers. Financial Intelligence Units search for these illicit assets by looking for special indicators.  The Egmont Group’s report “FIUs And… Continue Reading

Prosecutors Add To Indictment Connected To Ponzi Scheme Case

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud

At “Hockey bid a factor in Beckman’s Ponzi trial”, the StarTribune analyzes the Second Superseding Indictment filed in the criminal prosecution against Jason Bo Beckman, Gerald Durand and Patrick Kiley.  This StarTribune article explains the three are accused of money laundering and other alleged crimes arising out of Trevor Cook’s securities fraud which was one… Continue Reading

Asset Search News Roundup: February 6, 2012

Posted in Asset Search News, Financial Institutions, Money Laundering, Swiss Banks, Tax Fraud

The February 6th “Asset Search News Roundup” concentrates on the possible abuse of attorney trust accounts: “Three UBS Clients Accused of Hiding Offshore Money From IRS” outlines the suspected tax fraud case against ex-San Diego tax attorney Christopher M. Rusch and Phoenix-area businessmen Stephen M. Kerr and Michael Quiel.  The three are accused of secreting… Continue Reading

Asset Search News Roundup: January 22, 2012

Posted in Asset Search News, Financial Institutions, Money Laundering

A principal of PokerStars pleads guilty and Nigerian advance fee frauds: ♦ The May 9, 2011 Asset Search News Roundup and Secreting Money Via Internet Gambling On The Isle Of Man, discussed criminal prosecutions against the principals of three internet gambling businesses.  One of the principals, Ira Rubin of PokerStars, just entered a guilty plea… Continue Reading

Revisiting A Lawsuit Against Two Private Investigators

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy Laws

Lawsuit 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

Asset Search News Roundup: January 8, 2012

Posted in Asset Search News, Divorce & Child Support, Financial Institutions, Money Laundering, Tax Fraud

The Financial Action Task Force’s frequently asked questions webpage, states “Large-scale money laundering schemes invariably contain cross-border elements.”  Large-scale money launderers are not the only ones who hide assets by utilizing cross-border or offshore elements.  Divorcing spouses, judgment debtors and anyone else, may conceal valuable assets by combining offshore elements with additional ones. These elements… Continue Reading

Lawsuit Claims PI’s Could Have Illegally Accessed Bank Info

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Privacy Laws

On 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

Alleging Bank Liability For Holocaust-Era Looting In Hungary

Posted in Asset Search/Fraud Investigation, Financial Institutions, Holocaust-Era Assets

A 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

Searching For Bank Accounts Secretly Opened In Switzerland

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Financial Institutions, Swiss Banks, Tax Fraud

An 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

Asset Search News Roundup: June 24, 2011

Posted in Asset Search News, Financial Institutions, Money Laundering, Securities Fraud

At an April 26, 2010 Moneylaundering.com article*, I basically explained that the damaged investors of a Ponzi scheme can not successfully recover money damages on the ground that a financial institution violated the Bank Secrecy Act: (To Read The Article, Click On The Image Above) This Moneylaundering.com article mentioned a 2009 lawsuit damaged investors brought… Continue Reading

Collecting Evidence Against An Ex- President Of Guatemala’s Congress

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Public Corruption

The 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

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