Hiding assets via jewelry or other portable valuable commodities and former Turks & Caicos premier Michael Misick:

  1. On the trail of Michael Mastro: how to flee the law when you are 87” is about Michael & Linda Mastro.  These two might have secretly transferred bankruptcy estate assets by shipping a Range Rover full of jewelry, (i.e. portable valuable commodities), to Lisbon.  The post “Secreting Assets Without A Border Trace” similarly describes the fact pattern of a Ponzi schemer who had conceivably concealed diamonds by traveling as an airline passenger from the U.S. to Zurich, Switzerland.
  2. The April 21, 2012 Asset Search News Roundup states that former Turks & Caicos premier Michael Misick was the subject of an arrest warrant, reportedly over alleged corruption and supposed money laundering.  This past June 30th, the Turks & Caicos Weekly News published “Mike Misick Fighting Extradition.”   It discusses Misick’s April 13, 2013 re-arrest in Brazil and the effort to extradite him to the Turks & Caicos Islands.

Copyright 2013 Fred L. Abrams

  1. Transparency 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.
  2. Former Turks & Caicos Premier Michael Misick is another suspected kleptocrat who is the subject of a fresh arrest warrant.  Like Nguema, Mr. Misick’s warrant is reportedly over supposed corruption and alleged money laundering.  Asset Search Blog posts regarding Mr. Misick include:

Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud

Could Former Premier Misick Face U.S. Forced Collection Proceedings?

New Jersey Lawsuit Involving Former Premier Misick Settles

The Former Premier’s Nexus To Hip Hop Weekly Magazine

The Actress, An Ex-Premier & Hip Hop Weekly Magazine

Copyright 2012 Fred L Abrams

 

The Financial Action Task Force updates its standards and two politically exposed persons are criminally charged in the Turks and Caicos Islands¹:

  1. 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 information between relevant authorities, conduct of joint investigations, and tracing, freezing and confiscation of illegal assets.”  Some of the changes address tax crimes, public corruption and laundering by politically exposed persons.  Such laundering easily happens in cases where a corrupt politically exposed person exercises direct power over a bank, as I suggest at the Moneylaundering.com article International Groups Say Corrupt PEPs Can Often Loot With Impunity
  2. The Special Investigation and Prosecution Team researching alleged public corruption by ex-Turks & Caicos Premier Michael Misick, recently filed criminal charges against two politically exposed persons.  The two are former Turks & Caicos Minister
 of
 Natural
 Resources

 McAllister 
Hanchell and Turks and Caicos Progressive National Party leader Clayton Greene, who is an attorney.  The Turks & Caicos Sun reported that Mr. Hanchell is accused of conspiring to collect bribes.  Mr. Hanchell was mentioned at pp. 253-255 of a Commission of Inquiry Report,³ which earlier said Mr. Hanchell should be criminally investigated for possible corruption.  Mr. Greene is accused of washing corruption proceeds through his attorney trust account.  Attorney trust accounts are sometimes used in money laundering circuits, as highlighted at the February 6th Asset Search News Roundup.

 

¹The Turks and Caicos Islands, SN/1A/5038 contains parliamentary information licensed under the Open Parliament Licence v1.0.

²International Groups Say Corrupt PEPs Can Often Loot With Impunity, Copyright 2011 Alert Global Media, reprinted with permission.

³Commission of Inquiry Report, is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.

Copyright 2012 Fred L. Abrams

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 McCoy, were alleged to have invested monies in the US-based Hip Hop Weekly magazine.

$300,000 dollars for example, might have been transferred in 2007 to Hip Hop Weekly through companies known as My Way Productions 2 and the Windsor Investment Group.  The former premier and Ms. McCoy seemed deeply involved in My Way Productions 2, as more fully set forth at “The Former Premier’s Nexus To Hip Hop Weekly Magazine” and “The Actress, An Ex-Premier & Hip Hop Weekly Magazine“.  Windsor Investment Group meanwhile, was apparently partially owned by the former premier and his brother, Chal Misick.

The former premier, Ms. McCoy, Chal Misick and the Windsor Group are now thought to possibly be subject to a June 23, 2011 restraining order which allegedly froze the former premier’s assets worldwide.  The Turks & Caicos Sun has reported that the alleged June 23rd order “was made” by special prosecutor Garlick and that it lists the former premier, Ms. McCoy, Chal Misick, the Windsor Group and others.

Continue Reading Former Premier Misick Reportedly Subject To Worldwide Asset Freeze

The October 27th “Asset Search News Roundup” covers Former Premier Michael Misick and tax fraudster Erwin Mayer:

One such land grant concerned 18 acres located in the North West Point area of the Turks and Caicos Islands, highlighted on the map below.  Regarding this land grant, the final report to the Commission of Inquiry claimed Michael Misick:  “…was the beneficiary of a number of land grants, including one of 18 acres in the North West Point area in April 2007, for which he did not pay.  His partners, overseas developers, paid the entire purchase price of over $1.9 million, but he received 50% ownership in the project.


(For Hi-Res Click On The Map)

Copyright 2010 Fred L. Abrams

During 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 this August 14, 2009 constitutional suspension, the right to a jury trial was revoked, the Cabinet abolished and the House of Assembly dissolved. As my article “The Former Premier’s Nexus To Hip Hop Weekly Magazine” reported, the ex-premier’s suspicious activities had included his possible transfer of funds through the My Way Productions 2 company to the U.S. based Hip Hop Weekly Magazine.

Not covered by my article, was how Ms. McCoy might possess probative evidence regarding the ex-premier’s relationship to Hip Hop Weekly and My Way Productions 2. Perhaps as a director of My Way Productions 2, Ms. McCoy may even have executed a March 30, 2007 “Unanimous Written Consent” agreement about Hip Hop Weekly:

(FIRST EXCERPT MARCH 30th CONSENT AGREEMENT)


(SECOND EXCERPT MARCH 30th CONSENT AGREEMENT)

(To Read The Entire Agreement, Click On The Excerpt Above)

A March 30, 2007 operating agreement concerning Hip Hop Weekly seems to have also been executed by Ms. McCoy. Although Ms. McCoy was publicly examined about My Way Productions 2 by the Turks and Caicos Islands Commission of Inquiry on January 30, 2009, there was never any discussion of Hip Weekly Magazine, according to pages 73 to 205 of the January 30th hearing transcript.

(Click On The Transcript To Read All Of It)++

++ The Turks and Caicos Islands Constitution ©Crown Copyright 2006 and January 30, 2009 Hearing Transcript ©Crown Copyright 2009, are reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.

Copyright 2010-2011 Fred L. Abrams

At “Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud“, I first mentioned the nexus between former Turks & Caicos premier Michael Misick and Hip Hop Weekly Magazine.  The Forbes article “The Premier And The Hip-Hop Magazine” discussed the same thing and also quoted me.

This article specifically examined the Former Premier’s alleged investment in Hip Hop Weekly Magazine through My Way Productions 2.  The Forbes article additionally described Sir Robin Auld’s public corruption investigation of the Former Premier and asked at page 1:

 “How did My Way Productions 2 get its funding? According to the investigation carried out by Sir Robin Auld, Misick supplied a document that showed $300,000 was transferred to My Way Productions 2 in 2007 from a company called Windsor Investment Group. Misick claimed the money was a dividend from that company, which he and his brother partially owned.”

The supposed transfer of $300,000 dollars into My Way Productions 2 had been expressly mentioned at page 146 ¶¶4.75 & 4.76 of Sir Robin’s “Final Report to the Governor of the Turks and Caicos Islands.*  The $300,000 dollars was also apparently discussed at pages 51, 53, & 54 of a transcript from the Former Premier ‘s January 14, 2009 public corruption hearing.  Besides all of the foregoing, assertions made by New Jersey lawyer David J. Finkler might too shed light on the Former Premier’s connection to Hip Hop Weekly Magazine.

Continue Reading The Former Premier’s Nexus To Hip Hop Weekly Magazine

The Court announced yesterday that there had been a settlement in the New Jersey case involving Former Premier Michael Misick of the Turks and Caicos Islands.  The settlement is mentioned at the Court’s Order of Dismissal and by the current docket report.

According to various court filings, the Former Premier could have been a beneficial owner of Hip Hop Weekly Magazine through his alleged interests in: My Way Productions 2 LTD. (“My Way”), Z & M Media LLC (“Z & M”), and the holding company for Hip Hop Weekly Magazine, Hip Hop Global  Media, LLC (“HHG”). (Cf. Defendants’ Answer, Counterclaim and Third-Party Complaint at p. 26 ¶ 7) (claim that the Former Premier and his ex-wife LisaRaye McCoy were “real parties in interest”).

The Verified Amended Complaint in the New Jersey case meanwhile, indicated at ¶¶7, 57, 75, 78, 80 and Exhibit “H”,  that My Way or Z & M or HHG, might have been involved in making substantial capital contributions:

  1. $798, 647. 57 capital contribution from My Way into Z & M;
  2. $10,000.00 capital contribution from My Way into HHG;
  3. $833,334.00 capital contribution from My Way into HHG and Z & M;
  4. $260,000.00 capital contribution from Z & M to fund Hip Hop Weekly Magazine.

Continue Reading New Jersey Lawsuit Involving Former Premier Misick Settles

The securities fraud complaint in Nesbeth v. USMIO, Docket No: 09−cv−62042−WJZ, alleges that Wachovia Bank caused damage to the supposed victims of a Ponzi scheme. This complaint, (referred to hereinafter as “the Florida Complaint“), also asserts claims against: MasterCard Worldwide, Mr. David Smith of Jamaica, Overseas Locket Corporation formed in Jamaica, Former Premier Michael Misick of the Turks and Caicos Islands, etc.

The Florida Complaint alleges that Mr. David Smith had operated a Ponzi scheme which reportedly involved six thousand victims from the Jamaican community and might have caused $220 million in losses. Florida Complaint at  ¶¶31, 37 & 38.  The suspected illicit proceeds of the scheme may have been used to invest in businesses and possibly pay for: real property, a lavish cruise, valuable watches (i.e. portable valuable commodities), ornamental furniture and exotic automobiles.  Florida Complaint at ¶52.

According to the Florida Complaint at ¶49, proceeds from the scheme had additionally been laundered through bank accounts, including one maintained at Wachovia.  Like the Wisconsin Complaint earlier provided at “Associated Bank Sued For Supposedly Ignoring Red Flags“, the Florida Complaint essentially claims that a bank’s anti-money laundering program / Customer Identification Program pursuant to 31 CFR 103.121 ¶ (b) (2) (i), failed.

Continue Reading Lawsuit Claims Wachovia Bank Facilitated Alleged Ponzi Scheme

Former Turks and Caicos premier Michael Misick is the subject of today’s “Asset Search News Roundup”.  The Former Premier is the ex-husband of U.S. actress and model LisaRaye McCoy and his pending New Jersey litigation is discussed at “Target Of Corruption Probe Sues Hip-Hoppers For Supposed Fraud” & “Could Former Premier Misick Face U.S. Forced Collection Proceedings?“.

The Former Premier is also a co-defendant in two civil complaints that are related to each other and have been removed from state court to Florida federal court.  Paragraphs 50-60 of the first complaint, accuses the Former Premier of possible involvement in a civil RICO scheme.  Paragraph 58 of the second complaint, alleges that the Former Premier might not have “implement[ed] appropriate supervisory methodologies” in connection with a supposed securities fraud / Ponzi scheme.  To access the two complaints, click on each of the images below:

   

Copyright 2010 Fred L. Abrams