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Category Archives: Financial Institutions

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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

Asset Search News Roundup: May 9, 2011

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

Today’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

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 Generally

The 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

Asset Search News Roundup: February 23, 2011

Posted in Asset Search News, Financial Institutions, Money Laundering, Public Corruption

Today’s “Asset Search News Roundup” focuses on two publications by the anti-money laundering bellwether, the Financial Action Task Force.  This roundup too mentions a warning from the FinCEN financial intelligence unit about the potential movement of assets out of Egypt. The Financial Action Task Force published various reports at its website last month.  Two of… Continue Reading

Asset Search News Roundup: February 7, 2011

Posted in Asset Forfeiture, Asset Search News, Financial Institutions, Money Laundering, Public Corruption

Money mules and the former Tunisian president’s assets are covered by this "Asset Search News Roundup":  The Washington Post and FDIC previously outlined how some money launderers pretended to be employers to basically induce their so-called "employees" to wire transfer illicit funds as straw men.  These straw men commonly called money mules, were also just… Continue Reading

Seeking Swiss Bank Records At The Time Of A Divorce

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

Asset 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

Asset Search News Roundup: January 21, 2011

Posted in Asset Search News, Financial Institutions, Holocaust-Era Assets, Public Corruption, Tax Fraud, White-Collar Crime Generally

The January 21st "Asset Search News Roundup" talks about tracking Nazi-looted art; a proposed rule for detecting bank deposits by foreigners; and the Haitian money trail. The Swiss have made available on the Internet the "FDHA/FDFA Report on the State of Work on looted Art during the National Socialist era, in particular, on the subject… Continue Reading

India’s Largest Suspected Securities & Accounting Fraud

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

In his January 7, 2009 letter, Satyam Computer Services Ltd. founder and ex-chairman B. Ramalinga Raju wrote that Satyam had overstated its profits.  As a 2009 Reuters article observed, Mr. Raju’s January 7th letter indicated that approximately $1 billion or 94% of Satyam’s cash on its books was a fictitious asset.  This article also mentioned… Continue Reading

Asset Search News Roundup: December 15, 2010

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

Today’s roundup concerns the use of intermediaries, (i.e. nominees), to conceal beneficial ownership in both the registration of airplanes and use of financial accounts. Bloomberg.com & Reuters write that the FAA is requiring the re-registration of U.S. aircraft to help identify an estimated 119,000 unaccounted for aircraft owners.  While this measure will hopefully bolster homeland… Continue Reading

Secreting Assets Without A Border Trace

Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Secreting Assets Without A Border Trace, Securities Fraud, Swiss Banks

Asset Search Blog articles quoting “Roger” the former foreign intelligence officer are “Following The Money Trail In Zurich” and “Offshore Bank Accounts In Liechtenstein“. The end of this article also features “Roger”,although its facts have been sanitized / changed for privacy reasons. As a consequence of his U.S.-based Ponzi scheme, Bill the investment adviser was indicted… Continue Reading

Piercing The Bank Secrecy Veil During A Marital Asset Search

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

"Illegally Accessing Customer Information At U.S. Banks" characterized the Gramm-Leach-Bliley Act as a U.S. bank secrecy law.  On the one hand, it and other bank secrecy laws around the world protect the privacy of bank customers entrusting financial information to banks.  On the other hand, bank customers can easily abuse these laws during a fraudulent… Continue Reading

Asset Search News Roundup: October 27, 2010

Posted in Asset Forfeiture, Asset Search News, Financial Institutions, Public Corruption, Tax Fraud

The October 27th “Asset Search News Roundup” covers Former Premier Michael Misick and tax fraudster Erwin Mayer: At “The Actress, An Ex-Premier & Hip Hop Weekly Magazine“, I last mentioned former Turks & Caicos premier Michael Misick and his ex-wife, Lisa Raye McCoy.  The September 24th Miami Herald article “British official says elections in Turks… Continue Reading

Discovery Of Offshore Bank Records At Arab Bank

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

An "Asset Search With Letters Rogatory" advises that a domestic court may issue a letter rogatory (a.k.a. a "letter of request" or "legal assistance request"), to try to compel a foreign bank to disclose offshore records. After issued by the domestic court, the letter rogatory would ordinarily be considered by governmental authorities located offshore where… Continue Reading

Asset Search News Roundup: September 12, 2010

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

The OECD’s latest paper on transparency in tax matters; a Bulgarian money laundering investigation; and Trevor Cook’s September 9th declaration; are featured at this "Asset Search News Roundup". The OECD website has published the September 3rd brief, "Promoting Transparency and Exchange of Information for Tax Purposes". The brief highlights the significance of cross-border cooperation as… Continue Reading