High net worth divorcing spouses, kleptocrats, bankruptcy debtors, judgment debtors, etc., can easily conceal their beneficially owned assets by utilizing Nominee Incorporation Services (“NIS”). Pages 63-64 of “The 2007 National Money Laundering Strategy” essentially explained that individuals may use NIS in schemes to hide assets through money laundering. Individuals sometimes hire
“Red Flags For An Asset Search” lists the common methods for concealing assets including the use of shell companies; offshore bank accounts; sham trusts; etc. To successfully search for assets hidden by these methods, a multifaceted approach is often necessary.
Locating hidden assets can be especially difficult if underground banks/informal banking systems like hawala have been utilized. “The Hawala Alternative Remittance System and its Role in Money Laundering”¹ explains that hawaladars, (a.k.a hawala operators), secretly transfer funds to financial accounts maintained in Switzerland, Dubai, the United Kingdom &/or other international financial centers. The
TIPS FROM EARLIER ASSET SEARCH BLOG ARTICLES THAT MAY HELP YOU RECOVER HIDDEN ASSETS:
DETERMINE BENEFICIAL OWNERSHIP—Has your adversary hidden assets by transferring them to nominees, (i.e. intermediaries), or by using nominees to make purchases? If your adversary does this, the success of your asset recovery may depend on showing that your adversary
The following can help you detect money concealed in an offshore bank account:
When an adversary hides funds at an offshore bank there is always an electronic trace. The trace occurs because the bank stores electronic information comprised of: bank account opening documents; bank signature cards; monthly bank statements; etc.
This January 18th video depicts three 250 pound GBU-39 bombs dropped by B-1 or F-18 aircraft, in rapid succession on the same spot of the roof of an ISIS cash depot near Mosul, Iraq. As of last week, it was the ninth ISIS cash depot US-led forces had destroyed in Iraq &/or
This is the 9th post in my series discussing private investigators. It highlights former private investigators Elaine White & Cullen Johnson who were convicted of a money laundering conspiracy. The conspiracy involved bogus asset searches Ms. White & Mr. Johnson apparently performed for their clients. Mr. Johnson seemed to blame the bogus searches on
Recovering Art Assets & Cultural Heritage Property—covers how divorcing spouses; terrorists & others may employ art to hide their assets. This post was written by Leila A. Amineddoleh, Esq. who is an art and cultural heritage lawyer and an adjunct professor at Fordham
Below is a list of red flags. Recognizing the red flags can help you detect assets your adversary has hidden from you. I first published the list in 2007 at my article “Asset Search Indicia For Divorce, Debt Collection & Bankruptcy.” The list consists of common asset concealment methods:
The December 2nd terrorist attack in San Bernadino, California was a relatively low-cost terrorist operation. An NBC article reported that terrorists Syed Farook