425 pounds of hidden marijuana; Transparency International; and the defenses to a clawback lawsuit; are discussed at the August 5th "Asset Search News Roundup":
Federal agents at a U.S.-Mexican land crossing interdicted more than 425 pounds of marijuana on July 24, 2010. As "Marijuana Encased in Cement Seized by CBP" explains, the marijuana had been concealed in the shipment of concrete lawn furniture partly shown below.
(Photo: U.S. Customs and Border Protection)
Along with its news release dated July 28th, Transparency International released its sixth annual progress report. The report rates countries on their performance under The OECD Anti-Bribery Convention and highlights the problem of corrupt politically exposed persons.
- "Madoff trustee could sue 1,000 Ponzi victims" refers to the new clawback lawsuits Madoff trustee Irving Picard is expected to commence. These lawsuits could be filed against investors who benefited from Madoff’s Ponzi scheme by acquiring so-called "false profits". Investors subject to clawback in the aftermath of a securities fraud, sometimes assert that the Court lacks in personam jurisdiction in their case. Other possible defenses to a clawback lawsuit are that an investor acted in good faith, made an exchange for value, or was a secondary, tertiary, etc. transferee.
Copyright 2010 Fred L. Abrams