DETERMINE BENEFICIAL OWNERSHIP—Has your adversary hidden assets by transferring them to nominees, (i.e. intermediaries), or by using nominees to make purchases? If your adversary does this, the success of your asset recovery may depend on showing that your adversary…
Part 1 of the instant post notes that if your divorce is…
This is the ninth post in the “Divorce & Hidden Money” series. By failing to disclose any offshore assets, one divorcing spouse may cheat the other out of child support, alimony or other court awards. A spouse cheated this way might however, file requests for judicial assistance, (a.k.a. requests for legal assistance, letters of request, or letters rogatory), in a foreign country to collect evidence from witnesses residing there.
Evidence collected from the foreign witnesses may prove a divorcing spouse concealed bank accounts, businesses, real estate or additional assets offshore. The post highlights a request for judicial assistance in the U.S. filed by Helga Glock, (“Ms. Glock”), former wife of billionaire Gaston Glock, (“Mr. Glock”), inventor of the Glock pistol. It features a January 31, 2010 letter Mr. Glock allegedly wrote to his family discussing his plans for them. The post also discusses accessing Swiss bank account information and updates Helga Glock Claims Gaston Glock Started Concealing His Assets, published January 1st.
THE LETTER TO MR. GLOCK’S FAMILY
After her divorce from Mr. Glock in Austria on June 27, 2011, Ms. Glock made a March 18, 2013 request for judicial assistance, (“the Request”), in the case called In Re: Application of H.M.G., Index No. 13-cv-02598. The Request included a January 31, 2010 letter, (“the Letter”), Mr. Glock allegedly wrote to his family. If genuine, the Letter gives a glimpse of Mr. Glock’s dealings with Ms. Glock and their children who worked in the family’s gunmaking business. The Letter mentioned “the Privatstiftung”, a trust/Austrian private foundation Mr. Glock, Ms. Glock and others reportedly set up as co-settlors. Some of the key points Mr. Glock allegedly made at the Letter were:
“In 1999 I decided to restructure the Glock Group and secure it for all succeeding generations to come through the Privatstiftung (trust).”
“I guarantee the agreed upon payments to the beneficiaries for a lifetime. I therefore expect appreciation, compliance and acceptance and the respect I deserve as a father.”
“I am working on a ‘Glock code of conduct’ which will be implemented and will require all employees and family who access the benefits to adhere to.”
“I will not allow any interference with my life long business endeavors. Therefore, all employed family members will withdraw from the company’s operations.”
(Click On The Image To Read The Letter & Its English Translation)
This is the sixth post in the “Divorce & Hidden Money” series.
“Four Ways Assets Can Be Secretly Transferred” mentioned methods some use to move assets across international borders. My post regarding the 2011 divorce between Helga and Gaston Glock discussed additional asset concealment tools. Any one or a combination…
This is the fourth post in the “Divorce & Hidden Money” series.
Mr. Gaston Glock’s creation of the ubiquitous Glock pistol turned him into a billionaire and he is thought to be one of the twenty wealthiest individuals in all of Austria. Mr. Glock’s ex-wife Ms. Helga Glock meanwhile, suspected he is concealing marital assets which could be connected to the couple’s 2011 Austrian divorce.
Ms. Glock therefore used civil law tools in an attempt to detect any marital assets / alleged hidden monies Mr. Glock supposedly possessed. The civil law tools Ms. Glock employed included: 1) her Swiss petition to freeze a UBS bank account reportedly maintained by Mr. Glock in Switzerland; and 2) the March 18, 2013 request for judicial assistance filed at In re application of: H.M.G., U.S. District Court for the Northern District of Georgia, Index No. 13-cv-02598.
MS. GLOCK’S MARCH 18th REQUEST FOR JUDICIAL ASSISTANCE
Ms. Glock’s March 7, 2013 affidavit filed at her request for judicial assistance, claimed Mr. Glock had earlier started hiding and moving personal and corporate assets in anticipation of the couple’s divorce. The March 7th affidavit discussed Ms. Glock’s belief that Mr. Glock was trying to transfer assets out of her reach; and that there had allegedly been a steady flow of assets out of Austria.
According to the affidavit, there were financial transfers to the above-mentioned UBS Swiss bank account and to bank accounts in Liechtenstein or Luxembourg. Also according to the affidavit, Mr. Glock had a Bermuda trust formed so that it could receive $51 million from “Glock”. The affidavit additionally referred to the “worldwide Glock Group structure” and indicated the structure was thought to be partially depicted by this chart: