“Using Divorce To Dissipate Assets & Delay Creditors” described allegations from 2008, that ex-Tyco chief executive Dennis Kozlowski might have fraudulently conveyed assets via an excessive divorce settlement. Stated differently, the ex-Tyco chief was thought to have possibly used his divorce settlement as an asset protection tool.
An August 10th civil complaint filed in federal court by the United States Attorney, similarly accuses former Kansas University official Ben Kirtland of fraudulently conveying assets to his wife at the time of their divorce. The complaint essentially claims that in anticipation of a $2 million dollar forfeiture judgment against him, Mr. Kirtland supposedly used this divorce settlement to wrongfully transfer assets:
Copyright 2011 Fred L. Abrams