The criminal conviction of former Taiwanese President Chen Shui-bian; the death of suspected Ponzi schemer Danny Pang; and the dismissal of a Holocaust-era assets case; are the subjects of this week’s "Asset Search News Roundup":
- Former Taiwanese President Chen Shui-bian’s arrest was discussed in the November 19, 2008 "Asset Search News Roundup". As the New York Times and / or the BBC reported, former President Chen Shui-ban has now been convicted of public corruption charges and for hiding monies by laundering them through foreign financial accounts in Switzerland.
- "No apparent foul play in financier Pang’s death" from Reuters, provided information about the circumstances of Mr. Danny Pang’s death. As my May 4, 2009 "Asset Search News Roundup" explained, Mr. Danny Pang had been arrested for the suspected structuring of deposits, in violation of 31 U.S.C. §5324. He was additionally accused of defrauding investors out of hundreds of millions during a Ponzi-like securities fraud.
- On August 11, 2009 a New York appellate court decided Schoeps v Andrew Lloyd Webber Art Found. (2009 NY Slip Op 06155). The August 11th decision, affirmed the trial court’s dismissal of the Holocaust-era art restitution claim brought by Mr. Schoeps in Schoeps v Andrew Lloyd Webber Art Found. (2007 NY Slip Op 52183 {U}).
Raymond Dowd, Esq. who spoke at the June 2009 Holocaust Era Assets Conference in Prague, analyzed the August 11th decision in "German and Other Foreign Heirs in New York: Standing To Sue Clarified In Andrew Lloyd Weber Picasso Case".
As my April 30, 2009 article "Holocaust-Era Art Restitution Revisited" stated, Mr. Schoeps was also a party to another art restitution case. In Schoeps v. The Museum of Modern Art, et. al., Index No. 1-07-CV-11074, Mr. Schoeps had argued that he was entitled to restitution of the two Picassos, “Boy Leading a Horse” & “Le Moulin de la Galette”.
Copyright 2009 Fred L. Abrams