Politically exposed persons who are involved in public corruption schemes, sometimes use money laundering to hide bribes or other illicit proceeds. Although not accused of money laundering, former Detroit city councilwoman Monica Conyers, was a politically exposed person suspected of accepting bribes. Monica Conyers is also the wife of House Judiciary Committee Chairman John Conyers.
Will Ruth Madoff Keep Her Remaining $2.5 Million In Assets?
As a Reuters article suggests, the Court made a June 26 Order which directed Mr. Madoff to forfeit $170 billion in assets. The U.S. Attorney’s Office is also no longer seeking forfeiture of all of the assets of Bernard Madoff’s wife, Ruth. It is Instead permitting Mrs. Madoff to retain $2.5 million of her assets
2000 Pieces Of Art Subject To Asset Forfeiture Claim
Ernst & Ernst Collector’s Gallery owner Donald Dean Seybold, might forfeit 2000 pieces of fine art which include: paintings, prints, sculptures, plates and books. Mr. Seybold could also end up forfeiting: a Las Vegas time share, a jeep, a sports utility vehicle and $3.2 million dollars.
Federal prosecutors are seeking asset forfeiture of these items
Competing Over Mr. Allen Stanford’s Assets
Suspected Ponzi schemer Allen Stanford may have facilitated one of the largest financial frauds known to date. Any receivers, investors or other stakeholders with claims against Mr. Stanford under bankruptcy or other laws, are of course trying to interdict Stanford’s assets. As I mentioned in my "March 25, 2009 Asset Search News Roundup"
Some Asset Search & Recovery Basics
Have the methods mentioned at “Asset Search Indicia For Divorce, Debt Collection & Bankruptcy“, been used to hide assets during a financial fraud? Are there any red flags that assets are being fraudulently concealed? Finding answers to these questions can be critically important if you are trying to recover: marital assets; probate assets
Recovering Art Illicitly Transferred To New York City
Like diamonds, art can be used as a portable valuable commodity to illicitly transfer value to another jurisdiction. The following seven Egyptian artifacts were for instance, stolen from the Bijbels Museum in Amsterdam on July 29, 2007 and then ultimately transferred to a New York City auction house:
The seven artifacts depicted above were however,
The Element Of Identity Theft In Different White-Collar Crimes
Identity theft can play a role in white-collar crimes ranging from money laundering to tax fraud. Perhaps most interesting are the schemes which share identity theft and money laundering as common elements, like the one mentioned at "A Tax Fraud & Identity Theft From Miami". Identity theft and money laundering are similarly
Accessing E-Mail As Part Of An Asset Search
During an asset search, subpoenas or other court-related discovery can be used to access an adversary’s e-mail. This access to electronically stored information like e-mail, may be authorized by Fed. R. Civ. P. 26 (a) (1) (A) (ii) & (b) (2) (B) and additional discovery rules, as is more fully set forth in my post
Laundering Holocaust-Era Loot?
In Grosz v. The Museum of Modern Art, the plaintiffs allege that The Museum of Modern Art (MoMA") acquired three Holocaust-era paintings which had been stolen from expressionist and Dadist painter George Grosz. These particular paintings have been possessed by MoMA since the 1940’s or 1950’s and are: "Republican Automatons", "Self-Portrait
Holocaust-Era Art Restitution Revisited
"Germany Rejects Call for End to Restitution of Nazi-Looted Art" raises the issue of Holocaust-era art restitution. The upcoming "Holocaust Era Assets Conference" in Prague on June 26-30 2009, will of course also deal with the very same thing.
New York’s Museum of Modern Art meanwhile, filed a complaint along with