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Category Archives: Tax Fraud

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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

Attorney Jack Blum To Talk About Blowing The Whistle

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

Attorney Jack Blum’s law practice focuses on whistleblower representation, anti-money laundering compliance, international tax evasion and the representation of victims of financial crime and fraud.  He has been an expert witness for the U.S. Department of Justice and the Internal Revenue Service.  Mr. Blum additionally served as associate counsel, or assistant counsel, or special counsel to three U.S…. Continue Reading

Asset Search News Roundup: July 21, 2012

Posted in Asset Forfeiture, Asset Search News, Securities Fraud, Tax Fraud, White-Collar Crime Generally

Peter Madoff’s $4 million dollar co-op and the effort to recover assets from Peregrine Financial Group, Inc. The NYC Park Avenue co-op which belonged to Bernard Madoff’s younger brother Peter, has just been listed for sale.  The $4 million dollar co-op is being sold as part of the asset forfeiture agreement connected to Peter Madoff’s June… Continue Reading

Recovering Assets Via Whistleblowers & Other Tipsters

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Securities Fraud, Tax Fraud

At the New York City Bar Association, 42 West 44th Street New York, NY 10036, from 6:00 PM– 9:00 PM on September 27, 2012, Fred Abrams and distinguished lawyers Jack Blum and Jordan A. Thomas, will present “The Ins & Outs Of Recovering Assets Via Whistleblowers & Other Tipsters”.  This program first analyzes how vast sums… Continue Reading

Asset Search News Roundup: May 20, 2012

Posted in Asset Search News, Divorce & Child Support, Tax Fraud

Tipsters and protecting assets by going offshore– Information from tipsters sometimes leads to an asset recovery in cases as diverse as tax fraud and divorce.  Earlier articles regarding tipsters include: (1)An Asset Search Via Whistleblowers & Other Tipsters; (2)Mass Leak Of Large Client Data Rattles Swiss Banking World; (3)Swiss Banker Blows Whistle on Tax Evasion…. Continue Reading

Asset Search News Roundup: May 6, 2012

Posted in Asset Search News, Money Laundering, Tax Fraud, White-Collar Crime Generally

Today’s “Asset Search News Roundup” relays the details of a likey abusive trust scheme and an Egmont Group link chart. “Seattle’s Ubiquitous Asset Protection Lawyer, Ms. Mary Simon” outlines how an attorney was thought to have employed Belizean trusts as critical components in asset protection plans.  U.S.A. v. Arthur Lee Ong, U.S. District Court for… Continue Reading

Asset Search News Roundup: April 8, 2012

Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Drug-Related Assets, Swiss Banks, Tax Fraud

A 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

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

The Asset Recovery Case Of Cohen v. S.A.C. Trading Corp.

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Money Laundering, Securities Fraud, Tax Fraud

The New York Post and Bloomberg wrote last month about the appeal pending in Cohen v. S.A.C. Trading Corp., et. al., (11-1390-cv). The Cohen appeal is over the trial court’s March 30, 2011 dismissal of Patricia Cohen’s Second Amended Complaint.  The Second Amended Complaint accused Ms. Cohen’s ex-husband, (billionaire hedge fund manager Steven Cohen), of tax… Continue Reading

Asset Search News Roundup: March 4, 2012

Posted in Asset Search News, Securities Fraud, Tax Fraud

Todays “Asset Search News Roundup” mentions whistleblower programs: An Asset Search Via Whistleblowers & Other Tipsters comments on IRS and SEC efforts to sniff out fraudulently concealed assets with the help of reward programs.  Forbes’ March 2nd article IRS Whistleblowers See Little Reward, also describes these programs.  The article compares one to the other and… Continue Reading

Asset Search News Roundup: February 19, 2012

Posted in Asset Search News, Money Laundering, Public Corruption, Tax Fraud

The 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

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 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

An Asset Search Via Whistleblowers & Other Tipsters

Posted in Asset Search/Fraud Investigation, Divorce & Child Support, Money Laundering, Securities Fraud, Tax Fraud

“Human Intelligence & The SEC’s Whistleblower Program” examines the government’s handling of tips in its search for assets concealed by securities fraudsters.  The IRS Whistleblower Program too seeks tips from informants who help the IRS detect assets concealed in tax frauds. Besides these whistleblower programs, tips can often be generated in a variety of ways. … Continue Reading

Asset Search News Roundup: December 11, 2011

Posted in Asset Search News, Holocaust-Era Assets, Tax Fraud

Individuals ranging from Nazi war criminals to tax fraudsters have long been known to secretly transfer assets by smuggling cash.  Today’s “Asset Search News Roundup” focuses on this smuggling. The January 11, 1941 article “Confirms Nazi Money Hiding“, describes one Holocaust-era scheme in which Nazi war criminal Hermann Goering pocketed smuggled cash.  Goering is mentioned… Continue Reading

Asset Search News Roundup: November 26, 2011

Posted in Asset Search News, Bankruptcy, Tax Fraud

Investigating assets by issuing subpoenas and a letter rogatory– It is well-known that subpoenas may play a critically important role in an asset investigation.  To try to locate bankruptcy estate assets for example, the trustee in Michael Mastro’s bankruptcy case subpoenaed credit card records from Amercian Express and a credit file from Equifax.  An earlier… Continue Reading

Asset Search News Roundup: October 10, 2011

Posted in Asset Search News, Drug-Related Assets, Money Laundering, Tax Fraud

Twelve 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 7, 2011

Posted in Asset Search News, Money Laundering, Tax Fraud

Freezing bank accounts maintained by nominees and Scottish prosecutors investigate a suspected tax fraud. Fraudulently conveyed assets may be recovered even if they are concealed in bank accounts maintained by straw persons / intermediaries (i.e. nominees).  A post-judgment creditor for example, can conceivably freeze or restrain nominee bank accounts in New York, as partly suggested… 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

Concealing Assets In More Than 150 Trusts?

Posted in Asset Search/Fraud Investigation, Tax Fraud, White-Collar Crime Generally

“A Doctor, A Lawyer & Bricks Of Cash” revealed the role a Liechtenstein trust had in maintaining a secret Swiss bank account.  The February 3, 2010 superseding indictment of former attorney Micaela Renee Dutson and her husband Tony Dutson, too raised the issue of trusts and hidden assets. This indictment depicted below, accused the Dutsons… 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

Following The Money Trails From Marital Assets To Nazi-Looted Art

Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support, Holocaust-Era Assets, Money Laundering, Tax Fraud

Nazi-looted art, bankruptcy estate assets, marital assets and almost anything else can conceivably be secretly transferred by common methods.  Just a few of the common methods include the use of intermediaries (i.e. nominees), forgeries, portable valuable commodities and multiple jurisdictions to fraudulently transfer or hide assets. By studying these kinds of methods, the continuing legal education… Continue Reading