A Van Gogh goes missing; articles about asset recovery basics; and Barclay’s Bank:
- Egyptian authorities are trying to recover a Van Gogh that went missing on Saturday after it was stolen from the Mohamed Mahmoud Khalil Museum. The museum houses a fine art collection worth at least $1.2 billion and the the Van Gogh’s theft is described at "Van Gogh $55 Million `Poppy Flowers’ Theft in Cairo Blamed on Lax Security".
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Divorcing spouses, judgment creditors, domestic tax authorities, etc. can all be claimants relegated to an asset search / an asset recovery effort against beneficial owners fraudulently concealing assets. Articles I have published regarding asset recovery basics include: "Asset Search Indicia For Divorce, Debt Collection & Bankruptcy"; "Recognizing Hidden Assets, The Red Flags"; "An Asset Search In Geneva"; & "A Primer For Gathering Financial Intelligence.
- Barclays Bank PLC has agreed to forfeit $298 million according to U.S. Treasury’s Office of Foreign Assets Control and the U.S. Department of Justice. At paragraphs 5 & 6 of the settlement agreement available here, Barclays admits it sometimes concealed the identities of bank customers who were subject to U.S. sanction programs. Barclay’s investment banking division had meanwhile, recently been the financial advisor, the restructuring agent and sole bookrunner for FDIC’s $233 million dollar sale of commercial mortgage-backed notes, as explained by a press release.
Copyright 2010 Fred L. Abrams