Today’s "Asset Search News Roundup" examines the criminal investigation into HSBC and the SEC’s case against Kenneth Wayne McLeod’s estate:
- "U.S. Widens Tax Inquiry Into HSBC" reports that prosecutors are "ramping up their criminal investigation" of HSBC after U.S. taxpayers allegedly used foreign HSBC accounts to hide undeclared assets. My April 21, 2010 "Asset Search News Roundup" mentioned these same U.S. taxpayers, who were accused of using foreign HSBC accounts to conceal assets from the IRS.
- "Hundreds of Federal Agents Fall Victim to Ponzi Scheme" essentially describes the June 24, 2010 securities fraud case brought by the SEC against the estate of recently deceased Kenneth Wayne McLeod. Mr. McLeod died from a self-inflicted gunshot wound on June 22nd in Jacksonville, Fla. He allegedly ran a 22-year Ponzi scheme at his retirement benefits consulting firm and is thought to have defrauded agents from the FBI, ICE and DEA and others, out of $34 million dollars. The securities fraud complaint filed by the SEC against Mr. McLeod’s estate is available here:
Copyright 2010 Fred L. Abrams