This "Asset Search News Roundup" is about a former president detained because he may have hidden illicit assets by laundering them; a Bollywood film producer who pleaded guilty to conspiracy to commit money laundering; and a Pennsylvania jury deliberates over the case against an ex-Pennsylvania judge:
1) As described at my post "White-Collar Crime", hiding assets sometimes leads to criminal law violations. Such may be the case of former Taiwanese President Chen Shui-bian who could have hidden / laundered as much as $30 million in illicit assets along with nine other people. According to "Taiwan Detains Chen on Suspicion of Money Laundering (Update1)", the former president was detained by the Taipei District Court because of alleged money laundering, embezzlement and bribe taking. The Taipei Times further reports Former President Chen is now at a hospital on a hunger strike, as his detention continues.
2) The Washington Post and The Times of India mentioned the November 13th guilty plea of Bollywood film producer and the head of Elite Entertainment, Inc., Vijay K. Taneja. As a Department of Justice press release also explained, Mr. Taneja pleaded guilty to one count of conspiracy to commit money laundering arising from his $33 million dollar mortgage fraud scheme.
3) Timesleader.com reported that A jury began its deliberations yesterday, in the money laundering and mail fraud trial of ex-Pennsylvania Superior Court Judge Michael Joyce. Based on news accounts, ex-Judge Joyce collected $440,000 in insurance monies by faking neck and back injuries from a 2001 auto accident. The U.S. Attorney’s Office specifically alleged that Former Judge Joyce deposited the insurance proceeds into a brokerage account he used to purchase real property, an interest in a 1978 Cessna airplane and a Harley-Davidson motorcycle.
Copyright 2008 Fred L. Abrams