Today’s “Asset Search News Roundup” deals with the beneficial ownership of assets.
- Although it was published as early as October 14, 2007, “Asset Search Indicia For Divorce, Debt Collection & Bankruptcy” is still relevant today. This is true because it reveals how beneficial owners sometimes conceal assets by using tools ranging from sham trusts to bulk-cash smuggling.
- “If A Judge Can See Your Assets, He Can Seize Them” points out that beneficial owners sometimes park funds with anonymity in nominee bank accounts opened by shell companies. The U.S. Senate bill “The Incorporation Transparency and Law Enforcement Assistance Act“, addresses said money laundering / terrorist financing vulnerability. The bill would basically require beneficial owners of U.S. corporations to identify themselves to governmental authorities:
(Click On The Image To Read The Bill)
Copyright 2011 Fred L. Abrams