Financial Institutions

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In his January 7, 2009 letter, Satyam Computer Services Ltd. founder and ex-chairman B. Ramalinga Raju wrote that Satyam had overstated its profits.  As a 2009 Reuters article observed, Mr. Raju’s January 7th letter indicated that approximately $1 billion or 94% of Satyam’s cash on its books was a fictitious asset.  This article also mentioned…

Asset Search Blog articles quoting “Roger” the former foreign intelligence officer are “Following The Money Trail In Zurich” and “Offshore Bank Accounts In Liechtenstein“. The end of this article also features “Roger”, although its facts have been sanitized / changed for privacy reasons.

As a consequence of his U.S.-based Ponzi scheme…

"Illegally Accessing Customer Information At U.S. Banks" characterized the Gramm-Leach-Bliley Act as a U.S. bank secrecy law.  On the one hand, it and other bank secrecy laws around the world protect the privacy of bank customers entrusting financial information to banks.  On the other hand, bank customers can easily abuse these laws during…

The October 27th “Asset Search News Roundup” covers Former Premier Michael Misick and tax fraudster Erwin Mayer:

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An "Asset Search With Letters Rogatory" advises that a domestic court may issue a letter rogatory (a.k.a. a "letter of request" or "legal assistance request"), to try to compel a foreign bank to disclose offshore records.

After issued by the domestic court, the letter rogatory would ordinarily be considered by governmental authorities located…

The OECD’s latest paper on transparency in tax matters; a Bulgarian money laundering investigation; and Trevor Cook’s September 9th declaration; are featured at this "Asset Search News Roundup".

  1. The OECD website has published the September 3rd brief, "Promoting Transparency and Exchange of Information for Tax Purposes". The brief highlights the significance of cross-border

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"A Tax Fraud & Identity Theft From Miami" & "Bearer Shares & An Asset Search" described money laundering schemes partly facilitated through Cayman Islands bank accounts. On the one hand, some financial investigators report to me that during 2010 the Cayman Islands continue to be an extraordinary money laundering risk.

Cayman…

The August 14th “Asset Search News Roundup” mentions money laundering:

  1. So far this summer the Financial Action Task Force published evaluations of the anti-money laundering efforts undertaken by Brazil, India and Saudi Arabia.  The Financial Action Task Force is a leading anti-money laundering organization, as described at “Anti-Money Laundering Bellwether Seeks

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This "Asset Search News Roundup" features France’s richest woman; a retired Orlando police officer; and actor Wesley Snipes:

  1. "Police question French heiress over scandal" reports that France’s richest woman,L’Oreal heiress Liliane Bettencourt, is suspected of hiding assets from French tax authorities. Among other things, French authorities are believed to be investigating whether

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