A frequently asked questions Web page published by the Financial Action Task Force discusses multilateral initiatives and states: “Large-scale money laundering schemes invariably contain cross-border elements.” The Trevor Cook receiver undoubtedly recognizes the foregoing because he is tracking receivership estate assets across international borders, on behalf of investors damaged by Ponzi schemer and securities fraudster Trevor Cook.
Among other things, the Cook receiver is trying to interdict assets which may have been laundered through Mr. Cook’s purchase of real property in Canada and Panama and by Mr. Cook’s transfer of funds into Swiss bank accounts. Swiss authorities have already frozen a one million dollar bank account at UBS AG connected to Mr. Cook, on the ground of suspected money laundering.
Swiss authorities probably froze this bank account by relying on anti-money laundering legislation including Art. 305bis of the Swiss Criminal Code. Art. 305bis says in part:
“Whoever commits an act suited to frustrate the determination of the origin, the discovery or the confiscation of assets that he knows or should know derive from a crime, shall be punished with imprisonment or a fine“
The Cook receiver is also using local Swiss counsel to provide Swiss banks with authorization forms, releases and powers of attorney executed by Mr. Cook. These forms might persuade the Swiss banks to turnover any assets they maintain for Mr. Cook. They might too be used to convince the Swiss banks to release Mr. Cook’s banking information, which would ordinarily be kept confidential under Swiss professional secrecy laws.
A sanitized / changed copy of one of these types of forms, is reproduced below. It was prepared with the assistance of counsel from Zurich during one of my efforts to elicit evidence from bank witness residing in Switzerland. Finally, “An Asset Search In Geneva“, lists additional Swiss legal remedies available to the victims of a securities fraud.
Copyright 2010 Fred L. Abrams