This "Asset Search News Roundup" is about the five directors of Aurelia Finance facing a Swiss criminal prosecution because of an alleged investment of $800 million in a Madoff feeder fund; the criminal conviction of / prospective asset forfeiture against the owner of Numero Uno supermarkets; and the billion dollars missing in the R. Allen Stanford case.


  • As a consequence of  today’s ruling by a Swiss magistrate, a criminal prosecution can now proceed against five directors of wealth manager Aurelia Finance.  Aurelia Finance allegedly lost $800 million in client monies by investing in a Madoff feeder fund, as more fully set forth in the article "Swiss judge allows charges in Madoff losses case".  That article also mentions that these directors of Aurelia Finance have had their assets frozen.   
  • George Torres was found guilty in California of fifty-five felony counts on April 21 according to a press release and his eleven Numero Uno supermarkets and other assets, are subject to asset forfeiture.  As is also described by the Los Angeles Times, Mr. Torres now faces up to life in prison for racketeering, solicitation of murder, bribery and other crimes.
  • Based on a Bloomberg.Com article, U.S. court-appointed receiver Ralph Janvey reported  that as much as $1 billion can not be located in connection with R. Allen Stanford’s suspected Ponzi scheme.  I last mentioned Mr. Janvey as part of my March 25, 2009 post.                      

Copyright 2009 Fred L. Abrams