425 pounds of hidden marijuana; Transparency International; and the defenses to a clawback lawsuit; are discussed at the August 5th "Asset Search News Roundup":
Federal agents at a U.S.-Mexican land crossing interdicted more than 425 pounds of marijuana on July 24, 2010. As "Marijuana Encased in Cement Seized by CBP" explains, the marijuana
Discussed today are Arizona’s attempt to stop cross-border crime and Minneapolis Ponzi schemer Trevor Cook:
An alleged Guatemalan drug lord and Peter Madoff are the subjects of the May 26th “Asset Search News Roundup”:
“Suing Peter Madoff For Bernard Madoff’s Securities Fraud” described plaintiffs’ summary judgment motion pending against Peter Madoff in The Lautenberg Foundation v. Madoff, 09-Civ-00816. Pages 8-10 of a May 20th reply memorandum shows
Wachovia, one of the world’s largest international banks, is still defending itself against the Florida civil complaint described at my post "Lawsuit Claims Wachovia Bank Facilitated Alleged Ponzi Scheme". The complaint essentially claims that Wachovia’s anti-money laundering program under the Bank Secrecy Act had failed to detect money laundering. It was brought by the apparent victims of a Ponzi-like securities fraud.
Although the complaint could conceivably be the subject of a trial, the Court might soon dismiss at least part of it. This might happen since there is no private right of action under the Bank Secrecy Act for alleged anti-money laundering program violations. Only governmental authorities can seek monetary damages for Bank Secrecy Act violations, as suggested by pages 77-78 of the August 26, 2009 opinion in Armstrong v. American Pallet Leasing, Inc.:
(CLICK ON THE IMAGE ABOVE TO READ THE OPINION) Continue Reading Wachovia Bank & Its Bank Secrecy Act Issues
Prime Minister Silvio Berlusconi of Italy and the Egmont Group of Financial Intelligence Units are featured in the March 31st "Asset Search News Roundup":
“A Strategy Of Seizing Sinaloa Drug Cartel Assets” is about the U.S. Department of Justice’s use of asset forfeiture against Mexico’s drug cartels. U.S. Treasury’s Office of Foreign Assets Control (“OFAC”) pursues this forfeiture policy alongside the Department of Justice. As explained by my February 11, 2009 “Asset Search News Roundup“,
The January 6th article “Three in al Qaeda drug case plead not guilty in NY” discussed suspected terrorist financing by some West African men. According to a December 18, 2009 press release, the criminal case against these men involved the alleged transnational funding of Al Qaeda terrorists through narco-trafficking.
“Terrorist Financing, Money Laundering & Financial Intelligence Units” referred to another case of suspected terrorist funding. It mentioned the Egmont Group’s money laundering typology case numbered 06063:
(Above Case# 06063: Courtesy of The Egmont Group)Continue Reading Transnationally Tracking The Assets Of Terrorists
In "Forfeiture & The DEA’s Asset Search" Donnie the former DEA Special Agent spoke about the effectiveness of asset forfeiture. In that article, Donnie said: ‘asset forfeiture… can stop those who supply pseudophedrine to the meth super labs and Mexican cartels‘. "A Strategy Of Seizing Sinaloa Drug Cartel Assets" also recently explained that asset forfeiture was a vital tool in the fight against the Mexican drug cartels.
Notwithstanding the benefits of an ethical asset forfeiture program, there can be occasional abuses. Eight plaintiffs raise the issue of supposed improper seizure or asset forfeiture in James Morrow et. al. v. City of Tenaha Deputy City Marshal Barry Washington et. al., U.S. District Court for the Eastern District of Texas, Index No. 2:08-CV-288. These plaintiffs claim in their civil rights lawsuit pursuant to 42 U.S.C §1983, that some law enforcement officers in or near Tenaha Texas, had essentially seized assets in a racial profiling scheme.
Furthermore, an August 20, 2009 Memorandum Decision & Order reveals that the presiding judge intends to certify the plaintiffs’ case as a class action lawsuit under Fed. R. Civ. P. 23(b)(2). The plaintiffs who are African-Americans, assert they were driving in Tenaha Texas or on nearby state Highway 59. They allege they were subjected to unconstitutional traffic stops and cash seizures based on their race or ethnicity. Continue Reading Seizing Assets In A Suspected Racial Profiling Scheme?
A U.S. Army Sergeant pleads guilty to taking bribes, then trying to conceal them in a money laundering conspiracy and $32.8 million in U.S. currency is interdicted because of “Project Coronado”:
*A U.S. Department of Justice press release describes the conviction of Army Sergeant Ana C. Chavez for a public corruption scheme which had bribery
Holocaust-era assets and drug-related assets are both covered by this “Asset Search News Roundup”:
*My article “Searching For Nazi-Looted Art” described the Holocaust-era assets / contested provenance case ofBakalar v. Vavra, Index No. 05-CV-3037 (S.D.N.Y.). The trial court in Bakalar rejected the claim that Egon Schiele’s “Seated Woman With Bent Left
