This Asset Search News Roundup reports on Michael and Linda Mastro’s supposed concealment of two diamond rings-

The October 25, 2012 indictment of Michael Mastro and his wife Linda, alleges violations of money laundering and bankruptcy fraud laws.  Among other things, the indictment accuses the Mastros of fraudulently hiding portable valuable commodities, such as

The U.S. Senate Permanent Subcommittee on Investigations August 1, 2006 report on offshore tax haven abuses explains that assets can be hidden with the assistance of  “lawyers, brokers, bankers, offshore service providers, and others” offering offshore asset protection.  Seattle lawyer Mary Simon appears to have especially provided offshore asset protection services that

The pretrial discovery phase of a divorce, bankruptcy or other legal matter is often the best chance one has to collect evidence of any assets hidden offshore.   The attached letter rogatory* submitted to the Swiss court, was included in one divorcing wife’s pretrial effort to gather such evidence.

At the time of pretrial discovery

Investigating assets by issuing a letter rogatory

  • A prosecutor investigating an alleged tax fraud originating in Italy, has issued a letter rogatory regarding Chiron Holding LLC of Delaware.  The letter rogatory demonstrates that the prosecutor and Italian Finance Police are analyzing if Chiron participated in a suspected scheme to illegally avoid €416,895,973 in capital

In one of the largest bankruptcies in Washington state history, Chapter 7 trustee James F. Rigby Jr. is searching for assets that belong to Michael R. Mastro’s bankruptcy estate.  The bankruptcy estate assets could include everything from life insurance polices to expensive jewelry and other portable valuable commodities.  During the March 24, 2010

Bankruptcy Fraud, Money Laundering & Hidden Assets” outlines how a Chapter 7 debtor hid his Porsche and Rolls Royce and other assets.  That debtor eventually pleaded guilty to violating 18 U.S.C. §152 (Concealment of assets; false oaths and claims; bribery) and one count of 18 U.S.C §157 (Bankruptcy fraud).  “An Asset Search For Automobiles” similarly highlights how a Chapter 7 debtor concealed his $113,000 Porsche 911, by fraudulently transferring it out of state and registering it in the name of his brother.

A September 29, 2009 adversary complaint filed against 84-year-old Chapter 7 bankruptcy debtor Michael R. Mastro too claims that a valuable automobile was fraudulently transferred.  As part of this suspected fraudulent transfer, Mr. Mastro’s wife Linda, could have assigned Mr. Mastro’s $400,000 Rolls Royce to “LCY LLC Series Automobiles“.  The “Gift Statement” she reportedly executed, states that the Rolls was transferred without any exchange of consideration:

Continue Reading Mr. Mastro Supposedly Transfers His Rolls Royce & Other Assets