Fraudulent Asset Transfers

Opioid Crisis

The N.Y. State Attorney General has pursued an asset search of the Sackler family, Purdue Pharma and business entities related to them. The N.Y. State Attorney General tried to do this through its lawsuit in Suffolk County N.Y. against the Sackler family and Purdue Pharma. At court filings in the Suffolk County case, the N.Y.

Beneficial Ownership Post
Spouses can hide assets through layering & fraudulent transfers, this 35th Post in the “Divorce & Hidden Money” series says.

According to The Financial Action Task Force anti-money laundering group:

Beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on

Puzzle Money PhotoTo cheat you out of your fair share, your divorcing spouse, a business partner, an executor handling a decedent’s estate or someone else may hide assets from you.  As a result of an asset search or other investigation you might uncover a money trail for these hidden assets.

If you follow the money trail &

Trust Photo

My post “Four Asset Concealment Tools” says that assets can be hidden by fraudulently transferring them to a trust.  This 15th post in the “Divorce & Hidden Money” series concentrates on the evidence a divorcing spouse might try to collect if marital assets are concealed by a trust.

A spouse can

When fraudulent transfers are used to hide assets the subject of a debt collection, divorce, or bankruptcy case, the Court looks for badges of fraud.  As explained in Wall Street Associates v. Brodsky, 257 A.D.2d 526, 529 (1st Dept 1999), the badges of  fraud for fraudulent asset transfers or conveyances are:

  • A Close Relationship