This Asset Search News Roundup discusses the Secrecy for Sale Project and the indictment of a NY attorney along with a Swiss banker: I) The US-based International Consortium of Investigative Journalists, (“ICIJ”), analyzed more than 2.5 million documents in its Secrecy for Sale Project. The Project began after the ICIJ received a computer hard drive in… Continue Reading
Category Archives: Public Corruption
Subscribe to Public Corruption RSS FeedRecovering Assets By Cracking Down On Corruption Proceeds
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public Corruption, White-Collar Crime GenerallyThe ACAMS / MoneyLaundering.com article “FATF’s Focus on Asset Forfeiture Could Challenge Some Nations”, especially raises the issue of recovering corruption proceeds. Near the end of this article, I am mentioned as saying that as part of their effort to crack down on corruption, Financial Action Task Force examiners may expect jurisdictions to track bribes paid… Continue Reading
Asset Search News Roundup: October 24, 2012
Posted in Asset Search News, Financial Institutions, Public Corruption, White-Collar Crime GenerallyRecovering 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
Asset Search News Roundup: September 28, 2012
Posted in Asset Search News, Money Laundering, Public CorruptionThe name of a whistleblower is reportedly leaked and concealing assets in Luxembourg: A press release and “Ex-IRS examiner charged with naming whistleblower ” refer to the criminal complaint against Dennis Lerner of Edgewater, N.J. Mr. Lerner is accused of violating 26 U.S.C. § 7213 (Unauthorized disclosure of information), 18 U.S.C. §§ 207 (Restrictions on former officers, employees, etc.) & 208 (Acts affecting a personal financial… Continue Reading
Asset Search News Roundup: April 21, 2012
Posted in Asset Search News, Money Laundering, Public Corruption, White-Collar Crime GenerallyTransparency International’s April 17th post “Who owns what? Trying to clean dirty money in the EU”, highlights the importance of identifying the beneficial ownership of assets. Among other things, it mentions Teodorin Nguema Obiang, who is a suspected kleptocrat. A Wall Street Journal blog post meanwhile, describes the French arrest warrant concerning Nguema. Former Turks & Caicos… Continue Reading
Asset Search News Roundup: March 18, 2012
Posted in Asset Search News, Money Laundering, Public CorruptionA letter rogatory from Kenya and the February 24th return of Mayan artifacts to Guatemala. Following a money trail through multiple jurisdictions may necessitate letters rogatory. Such a letter rogatory was filed October 12, 2011 in In Re: Request from Kenya, U.S. District Court for the District of Delaware, Index No. 11-mc-00213. The Delaware Federal Court… Continue Reading
Asset Search News Roundup: February 19, 2012
Posted in Asset Search News, Money Laundering, Public Corruption, Tax FraudThe Financial Action Task Force updates its standards and two politically exposed persons are criminally charged in the Turks and Caicos Islands¹: The Financial Action Task Force has revised its 40 Recommendations for fighting money laundering and terrorist financing. A February 16th press release states these revisions include “[m]ore effective international cooperation including exchange of… 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
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
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
Asset Search News Roundup: February 23, 2011
Posted in Asset Search News, Financial Institutions, Money Laundering, Public CorruptionToday’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 CorruptionMoney 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
Asset Search News Roundup: January 21, 2011
Posted in Asset Search News, Financial Institutions, Holocaust-Era Assets, Public Corruption, Tax Fraud, White-Collar Crime GenerallyThe 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
Asset Search News Roundup: November 15, 2010
Posted in Asset Search News, Public Corruption, Tax Fraud, White-Collar Crime GenerallyTax transparency, three African heads of state and Peruvian cultural artifacts, are the subjects of the November 15, 2010 “Asset Search News Roundup”: “Tax Transparency: Presentation of the Report on progress made against international tax evasion” published by the OECD, stressed the critical role of cross-border cooperation in fighting international tax fraud. IRS Commissioner Doug… Continue Reading
Asset Search News Roundup: October 27, 2010
Posted in Asset Forfeiture, Asset Search News, Financial Institutions, Public Corruption, Tax FraudThe 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
Recovering Assets By Shifting Burdens Of Proof
Posted in Asset Search/Fraud Investigation, Public Corruption, Securities Fraud, Swiss BanksKleptocrats hiding assets in Swiss banks and investors subject to clawback claims in the U.S., may have something in common. Each could conceivably bear the evidentiary burden of proof in asset recovery cases brought against them. The Swiss Restitution Of Illicit Assets Act ("RIAA") for example, shifts the burden of proof onto crooked politically exposed… Continue Reading
Recovering Assets In Switzerland Hidden By Dictators
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Money Laundering, Public Corruption"The Americans & Swiss Target The Kleptocrats" contains an article discussing the Swiss Restitution Of Illicit Assets Act ("RIAA"). This act could be passed next month by the Swiss Parliament. It would be used to freeze the proceeds of public corruption schemes which some dictators and other politically exposed persons might transfer from a foreign… Continue Reading
The Americans & Swiss Target The Kleptocrats
Posted in Asset Search/Fraud Investigation, Public Corruption, Swiss Banks, White-Collar Crime GenerallyAmerican and Swiss officials are ramping up their efforts to recover assets hidden by corrupt foreign politically exposed persons commonly referred to as kleptocrats. A few of my thoughts about this are included at MoneyLaundering.com’s August 6th article “U.S., Swiss Initiatives to Recover Looted Assets Likely to Bring Banks More Subpoenas, Regulatory Scrutiny “: (Click… 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
The Actress, An Ex-Premier & Hip Hop Weekly Magazine
Posted in Asset Search/Fraud Investigation, Public Corruption, White-Collar Crime GenerallyDuring his marriage to actress LisaRaye McCoy, ex-Turks and Caicos premier Michael Misick was investigated for public corruption by the Turks and Caicos Islands Commission of Inquiry. The ex-premier’s suspicious activities were believed to be so harmful, they contributed to the UK Government decision to suspend parts of the 2006 Turks Caicos Island Constitution.++ With… 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: March 21, 2010
Posted in Asset Forfeiture, Asset Search News, Public CorruptionToday’s "Asset Search News Roundup" reports on "Operation Illegal Motion" and describes the recovery of a 3,000-year-old sarcophagus: A press release mentions that Robert L. Stevens of Baton Rouge, Louisiana, was the 10th person criminally charged as a result of "Operation Illegal Motion". Operation Illegal Motion is a public corruption probe of the criminal court… Continue Reading
Asset Search News Roundup: March 14, 2010
Posted in Asset Search News, Public Corruption, Securities FraudThe March 14, 2010 "Asset Search News Roundup" first highlightsex-Detroit councilwoman Monica Conyers and then mentionsMadoff Trustee Irving Picard: *As The Wall Street Journal describedat "House Judiciary Chairman’s Wife Sentenced to Prison"and "Lawmaker’s Wife Sentenced to Jail",ex-councilwoman Monica Conyers was sentenced to 37 months of prison for her public corruption scheme. "Public Corruption Charges Against… Continue Reading