“Swiss Banks, Smuggling & Other Asset Recovery Issues” will be presented from 6:00 PM to 9:00 PM on April 18, 2013 in New York City, at the New York County Lawyers’ Association. Jack Blum, Esq., Advocate Robert Fiecther of the Des Gouttes & Partners law firm located in Geneva, Switzerland and Fred L. Abrams, Esq…. Continue Reading
Category Archives: White-Collar Crime Generally
Subscribe to White-Collar Crime Generally RSS FeedReceiver Says To Associated Bank, Show Me The Money
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, White-Collar Crime GenerallyThe 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
Revisiting Minnesota’s Second-Largest Ponzi Scheme
Posted in Asset Search/Fraud Investigation, Securities Fraud, White-Collar Crime GenerallyA StarTribune article says that Trevor Cook’s currency program fraud was the second-largest Ponzi scheme in Minnesota history. The article too mentions that prosecutors have accused one of the scheme’s participants, Gerald Durand, of a murder-for-insurance plot. The suspected plot surfaced at the “Government’s Motion For An Evidentiary Hearing Regarding Durand“, filed December 26, 2012… Continue Reading
Recovering 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: November 14, 2012
Posted in Asset Search News, Bankruptcy, White-Collar Crime GenerallyThis Asset Search News Roundup reports on Michael and Linda Mastro’s supposed concealment of two diamond rings- The October 25, 2012 indictment of Michael Mastro and his wife Linda, alleges violations of money laundering and bankruptcy fraud laws. Among other things, the indictment accuses the Mastros of fraudulently hiding portable valuable commodities, such as a… 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: July 21, 2012
Posted in Asset Forfeiture, Asset Search News, Securities Fraud, Tax Fraud, White-Collar Crime GenerallyPeter 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
Asset Search News Roundup: May 6, 2012
Posted in Asset Search News, Money Laundering, Tax Fraud, White-Collar Crime GenerallyToday’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
Seattle’s Ubiquitous Asset Protection Lawyer, Ms. Mary Simon
Posted in Asset Search/Fraud Investigation, Bankruptcy, White-Collar Crime GenerallyThe U.S. Senate Permanent Subcommittee on Investigations August 1, 2006 report on offshore tax haven abuses explains that assets can be hidden with the assistance of “lawyers, brokers, bankers, offshore service providers, and others” offering offshore asset protection. Seattle lawyer Mary Simon appears to have especially provided offshore asset protection services that featured Belizean trusts. As revealed by… 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 28, 2012
Posted in Asset Search News, Financial Institutions, Identity Theft, White-Collar Crime GenerallyThe 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
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
Asset Search News Roundup: July 31, 2011
Posted in Asset Search News, Money Laundering, White-Collar Crime GenerallyPosts concerning asset searches and the recovery of more than 1000 antique coins, an Egyptian sarcophagus and other cultural artifacts. Past posts mentioning a few different asset searches are: “A Low-Cost Asset Search“; “An Asset Search With Letters Rogatory“; and “Turning To Financial Investigators During Asset Recoveries.” A July 14th press release describes a suspected… Continue Reading
Asset Search News Roundup: July 13, 2011
Posted in Asset Search News, Money Laundering, Securities Fraud, White-Collar Crime GenerallyCommon methods for concealing assets and Minneapolis money manager Christopher Pettengill- The January 4, 2011 “Asset Search News Roundup” advised that assets are routinely hidden by utilizing portable valuable commodities like diamonds, bulk cash smuggling and checks & wire transfers. Another common method for concealing assets is trade-based money laundering. As p.19 of “Money Laundering… Continue Reading
Secreting Money Via Internet Gambling On The Isle Of Man
Posted in Asset Search/Fraud Investigation, Money Laundering, White-Collar Crime GenerallyTo combat the secretion of money via laundering, the Isle of Man developed its own anti-money laundering handbook. Just a few of the the Island’s anti-money laundering regulations are: Criminal Justice (Money Laundering) Code 2007 Criminal Justice (Money Laundering) Code 2008 Proceeds of Crime Act 2008 Proceeds of Crime (Money Laundering) Code 2010 Proceeds of… Continue Reading
Asset Search News Roundup: May 9, 2011
Posted in Asset Forfeiture, Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, White-Collar Crime GenerallyToday’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
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
Asset Search News Roundup: April 8, 2011
Posted in Asset Search News, Securities Fraud, Swiss Banks, White-Collar Crime GenerallyThis "Asset Search News Roundup" discusses a letter rogatory from Italian prosecutors and the recent U.S. fines issued in the case involving India’s Satyam Computer Services. A letter rogatory filed April 1st in federal court by the U.S. Attorney, reveals that Italian prosecutors are investigating the Delaware office of a company called "BACKER & MCKENZIE". … Continue Reading
Identity Theft & An Impersonator On The Phone
Posted in Asset Search/Fraud Investigation, Financial Institutions, Identity Theft, White-Collar Crime GenerallyThe 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
Mr. Hecker’s 10 Year Sentence For Hiding Assets & Fraud
Posted in Asset Search/Fraud Investigation, Bankruptcy, Divorce & Child Support, White-Collar Crime GenerallyAccording to his wife’s September 28, 2009 affidavit, Dennis Hecker had stopped financially supporting her and was hiding assets. Dennis Hecker’s wife therefore asked Judge Jay M. Quam of Hennepin County Minnesota, to impute income to Mr. Hecker and to issue an interim order of spousal maintenance and child support. As more fully set forth… 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: January 4, 2011
Posted in Asset Search News, Drug-Related Assets, Identity Theft, Money Laundering, White-Collar Crime Generally“Secreting Assets Without A Border Trace” shows the role portable valuable commodities like diamonds can have in a scheme to hide assets. This January 4th “Asset Search News Roundup” reviews two more ways assets can be hidden. Bulk Cash Smuggling A December 16th press release refers to one case now being prosecuted which allegedly involved… Continue Reading
India’s Largest Suspected Securities & Accounting Fraud
Posted in Asset Search/Fraud Investigation, Financial Institutions, Money Laundering, Securities Fraud, White-Collar Crime GenerallyIn 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: 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