Investigating & Recovering Hidden Money & Other Assets
A low-cost asset search; two ex-JP Morgan bankers accused of concealing trading losses; and Rafael Caro Quintero:
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Domestic tax authorities, financial Intelligence units, bankruptcy trustees and banks rely on red flags to detect illicit assets, as mentioned by “Recognizing Hidden Assets, The Red Flags.” Recognizing Hidden Assets, The Red Flags notes that a broad range of litigants may uncover hidden assets by spotting the red flags. These red flags are…
Hiding assets via jewelry or other portable valuable commodities and former Turks & Caicos premier Michael Misick:
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The article “Wirapol Sukphol, Jet-Set Buddhist Monk Shocks Thailand With Religious Scandal” discusses a Buddhist monk in Thailand suspected of misappropriating charitable donations to support his life of luxury. This article indicates that the now former monk Wirapol Sukphol, may have collected charitable donations by swindling donors, to whom he reportedly once said: …
The money laundering investigation at the Vatican Bank and options for U.S. taxpayers who have hidden their assets offshore:
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International asset recovery and suspected trade-based money laundering:
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If you are a divorcing spouse, judgment creditor or anyone else who believes they may need to do a bank search to locate hidden assets parked offshore, below is a discussion of how individuals sometimes hide their assets and what legal remedies may be available.
Beneficial owners around the world are able to secretly transfer assets across international borders. As explained herein, they do this by conducting offshore banking through multiple jurisdictions; nominee incorporation services; and/or gatekeepers like lawyers. Various legal remedies are however, usually available for finding hidden assets transferred offshore. These remedies may even include seeking a court order directing a Swiss or other offshore bank to perform a bank search and disclose bank customer information.
Continue Reading Assets Hidden Offshore & A Bank Search To Find Them
Liberty Reserve’s red flags, a new Swiss bill and letters rogatory:
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U.S. prosecutors issued a press release yesterday announcing the extradition of former Guatemalan President Alfonso Portillo. Mr. Portillo’s extradition to the United States was based on his alleged money laundering.
Yesterday, Mr. Portillo was also arraigned in federal court in Manhattan. Although Mr. Portillo was remanded to the custody of the U.S. Marshal, the…
This Asset Search News Roundup discusses the Secrecy for Sale Project and the indictment of a NY attorney along with a Swiss banker:
I) The US-based International Consortium of Investigative Journalists, (“ICIJ”), analyzed more than 2.5 million documents in its Secrecy for Sale Project. The Project began after the ICIJ received a computer hard…