Twelve new peer review reports and laundering assets by purchasing real estate:
- On September 12th, the Organisation for Economic Co-operation and Development announced its 12 new peer review reports regarding assets hidden in international tax evasions. A press release discussing the reviews, mentions trusts and bearer shares:”In all 12 new reviews, the most common deficiencies relate to: the lack of available [beneficial] ownership information as regards trusts and bearer shares; incomplete accounting information for some forms of trusts and partnerships, including foreign or international entities; and some limitations in the international agreements allowing for exchange of information.“
- Conviction overturned for girlfriend of drug-kingpin “Ace Capone” describes the acquittal of Ms. Asya Richardson. Prosecutors had essentially accused Ms. Richardson of concealing drug monies by laundering them through the purchase of real estate. The money laundering typology below reveals one way laundering can occur, by investing in real estate.
Case 08012, Courtesy of The Egmont Group
Copyright 2011 Fred L. Abrams