The OECD’s latest paper on transparency in tax matters; a Bulgarian money laundering investigation; and Trevor Cook’s September 9th declaration; are featured at this "Asset Search News Roundup".

  1. The OECD website has published the September 3rd brief, "Promoting Transparency and Exchange of Information for Tax Purposes". The brief highlights the significance of cross-border cooperation as a countermeasure to abusive offshore tax avoidance schemes. It also says that the U.S. Senate estimates that the U.S. annually loses $1 billion in tax revenue because of tax cheats.
  2. On behalf of Bulgarian prosecutors, the Delaware U.S. Attorney’s Office successfully applied last month for the issuance of a letter rogatory. This particular letter rogatory from 2009, was permitted by the Court’s August 2010 Order, pursuant to 28 U.S.C. §1782 (Assistance to foreign and international tribunals and to litigants before such tribunals). Bulgarian prosecutors sought the letter rogatory because they are investigating suspected money laundering which could have a nexus to a witness residing in Delaware.

  3. At his September 9th declaration, securities fraudster / Ponzi schemer Trevor Cook listed foreign banks which could have been the transferees of some of his illicit proceeds. Individuals like Mr. Cook may also try to conceal their illicit proceeds via shell companies, nominees, high-risk geographical locations, multiple jurisdictions, etc. As part of the effort to recover Mr. Cook’s illicit proceeds at foreign banks, Mr. Cook executed "powers of attorney" including the one dated July 15, 2010 regarding Banco Nacional de Costa Rica:
  4. (For Hi-Res, Click On The Images)

Copyright 2010 Fred L. Abrams