On October 8th & 9th in Abuja, Nigeria I will lecture about asset recovery & tracking assets. I will present 2 lectures to law enforcement agents who work in West Africa. The lectures are called “Whistleblowers, Secret Bank Accounts & Recovering Hidden Assets” & “Asset Recovery Case Studies & Discussion.” I am presenting the lectures
An Asset Search For Money Trails
I. DURING YOUR ASSET SEARCH LOOK FOR A MONEY TRAIL
There is always a money trail you can follow during your asset search. This is true no matter how your adversary hides assets. Even if your adversary maintains a secret offshore bank account there is a money trail. The money trail at the offshore bank
How To Search For Hidden Money
My tips for finding hidden money are at Seven Tools For A Successful Asset Search. Hiring a private investigator is also usually a good idea. For additional help in your search for hidden money, you may need some of the following.
A) HANDWRITING EXPERTS
If forged documents were used to hide or steal money,
3 Ways To Perform Your Asset Search
A person hiding assets from you could park their money in an offshore bank account & hire an intermediary to be the account’s bank signatory. One website offers this “Bank Nominee Signatories Service” for a cost of about $1000 per year. This person could additionally title their real estate in the name of shell companies.
Searching For Assets Related To Jamaican Politician Peter Sangster
2/12/17 Update: It seems that after I published this post on 11/27/16, the Jamaican Major Organized Crime and Anti-Corruption Task Force, (“MOCA”), listed Mr. Peter Sangster as a fugitive. “The people on this list are wanted for serious and or violent crimes” MOCA’s website says.
Forty-seven-year-old Peter Sangster of Cherry Gardens, Kingston 8, Jamaica, has
Private Investigators: An Asset Search Via Data Brokers Like IDI,Inc.
The August 5th Bloomberg article “This Company Has Built a Profile on Every American Adult,” brings up IDI,Inc. The article suggests that IDI has built a profile about you on its idiCore database. Private investigators, debt collectors, lawyers & government authorities might access this database to search for your assets & other personal information. The end of the article also says “IDI’s marketing databases may help PIs predict people’s moves or digitally peek into their cars or medicine cabinets.” IDI could be collecting your personal information through data mining. How can data brokers like IDI mine data? They may analyze your clickstream, as mentioned by my May 11, 2015 post:
Data Brokers Searching For Your Assets, Bank Accounts & Other Personal Information?
As the Federal Trade Commission, (“FTC”), video depicted above reveals, data brokers (a.k.a. “information brokers”) and some other private sector businesses sell your highly personal information. The video says for example, your location, interests, prescriptions and medical history may all be “shared or sold.” Pages 22, 24, 34 & Appendix B-5 of a May 2014 FTC report similarly indicate that data brokers can search for your financial information including: where and when you open a bank account; estimated household income; the assets you own; loan history; credit card use and tax return transcripts.
Your Search For Assets Hidden Offshore
When naming offshore havens for opening secret bank accounts, people usually mention Switzerland, the Cayman Islands, Liechtenstein, etc. Meanwhile, bank accounts in almost any country can be put to work to hide & place assets out of reach. “Using Multiple Jurisdictions To Launder Money” discussed a suspected scheme to bribe
Using A Production Request In Your Asset Search
If you are a divorcing spouse, judgment creditor or other litigant, how do you conclusively establish whether or not assets have been hidden from you? You can sometimes reasonably determine this by using legal tools to search for assets. In a pending litigation, these tools might include: depositions; subpoenas; interrogatories; production requests; etc.
Below is part of a production request in the hypothetical case of “JOHN DOE.” The production request seeks access to JOHN DOE’s passport; credit cards; phone records; etc. By analyzing this kind of material one might possibly detect secret offshore bank accounts or other hidden assets.
PRODUCTION REQUEST
1. JOHN DOE’s original passport of which FRED L. ABRAMS, ESQ. (or his representative), may possess for a period of not more than 45 minutes to photocopy and return to JOHN DOE.
2. All paid and unpaid invoices from creditors arising from obligations incurred by JOHN DOE for the period January 1, 2011 to present.
3. All of JOHN DOE’s telephone records, (including cell phone records), for the period of January 1, 2011 to date.
4. Receipts and copies of airplane tickets for all air flights JOHN DOE traveled, during January 1, 2011 up to the present date.
5. All frequent flyer miles statements relating to any air flights JOHN DOE traveled, during January 1, 2011 up to the present date.
6. Receipts or documents relating to all hotel accommodations JOHN DOE paid for or hotels JOHN DOE stayed at anytime during the period of January 1, 2011 to the present.
7. All records and documents relating to any transaction entered into on or after January 1, 2011 in which JOHN DOE presently has or will have a financial interest or from which JOHN DOE has received or will receive compensation of any nature.
8. All documents related to any transaction since January 1, 2011, entered into by another person or entity for the benefit in whole or in part, of JOHN DOE.
9. All documents showing the amount, purpose or source of all payments over $5,000.00 made since January 1, 2011, to, by or for the benefit of JOHN DOE.
10. Copies of all of JOHN DOE’s current and previous wills and other estate planning documents.
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Your Search For Assets & Nominee Incorporation Services
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
A Multifaceted Approach For Your Asset Search
- Look before you leap into your asset search by taking a multifaceted approach.
“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.