The October 27th “Asset Search News Roundup” covers Former Premier Michael Misick and tax fraudster Erwin Mayer:

• At “The Actress, An Ex-Premier & Hip Hop Weekly Magazine“, I last mentioned former Turks & Caicos premier Michael Misick and his ex-wife, Lisa Raye McCoy.  The September 24th Miami Herald article “British official says elections in Turks & Caicos off for now“, too reported about them.The Miami Herald article explained that Michael Misick had been the target of a public corruption probe and that Ms. McCoy testified at public hearings regarding the same.  The final report from these hearings to the Turks & Caicos Islands Commission of Inquiry, asserted that Michael Misick participated in numerous questionable activities like suspicious land grants.

One such land grant concerned 18 acres located in the North West Point area of the Turks and Caicos Islands, highlighted on the map below.  Regarding this land grant, the final report to the Commission of Inquiry claimed Michael Misick:  “…was the beneficiary of a number of land grants, including one of 18 acres in the North West Point area in April 2007, for which he did not pay.  His partners, overseas developers, paid the entire purchase price of over $1.9 million, but he received 50% ownership in the project.“

(For Hi-Res Click On The Map)

• In USA v. Daugerdas et. al., Mr. Erwin Mayer consented to forfeit his two residences and financial accounts valued at more than $10 million dollars.  Mr. Mayer agreed to this asset forfeiture on October 19, 2010, after pleading guilty to conspiring to defraud the IRS in violation of 18 U.S.C. § 371 and to tax evasion in derogation of 26 U.S.C. § 7201.He had seemingly participated in an asset protection scheme which utilized fraudulent tax shelters.  Furthermore, the third superseding indictment filed in Mr. Mayer’s case alleged that “Bank A” had “structured and implemented many of the financial transactions…used in the tax shelters“.  Based on “7 Indicted on Charges of Selling Tax Shelters” and “Ex-BDO Seidman CEO Indicted In Tax Case“, “Bank A” is believed to have possibly been Deutsche Bank.

Copyright 2010 Fred L. Abrams