How does a divorcing spouse hide assets at trusts? The spouse hiding assets first forms a trust. Next, this spouse fraudulently transfers assets part of the marital estate, to the trust. The spouse hiding assets can also take money from the marital estate & use it to make purchases in the name of
Divorce & Hidden Money In Offshore Trusts
A) HOW MONEY IS HIDDEN IN OFFSHORE TRUSTS
Your divorcing spouse may be hiding assets at an offshore trust. Your divorcing spouse may secretly transfer marital assets to the offshore trust. The divorcing spouse could also make new purchases through the offshore trust. The trust could purchase: real property; jewelry; valuable automobiles; and almost…
During Your Asset Search Always Look For Nominees
A divorcing spouse; judgment creditor; bankruptcy creditor; or a beneficiary under a trust or will; may face an adversary hiding assets through nominees (i.e. intermediaries). See cf., Fourth Inv. LP v. United States, 720 F.3d 1058, 1070 (9th Cir. 2013) (six-part test for nominee ownership applied to tax lien case). An adversary can…
Searching For Assets Hidden By Lawyers
A trailer for the “Better Call Saul” show features the dry cleaner used by TV’s money laundering lawyer Saul Goodman. For me, the trailer highlights the fact that some lawyers hide their clients’ money by washing it via laundering links in a money laundering circuit. When lawyers wash large …
Assets Hidden By Nominees, Fraudulent Transfers & Trusts
To 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 &…
Divorce & Hidden Money: Collecting Evidence About Assets Concealed By A Trust
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…
Divorce & Hidden Money: Helga Glock Claims Gaston Glock Started Concealing His Assets
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:
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Asset Search News Roundup: May 20, 2012
Tipsters and protecting assets by going offshore–
- Information from tipsters sometimes leads to an asset recovery in cases as diverse as tax fraud and divorce. Earlier articles regarding tipsters include: (1)An Asset Search Via Whistleblowers & Other Tipsters; (2)Mass Leak Of Large Client Data Rattles Swiss Banking World; (3)Swiss Banker
Asset Search News Roundup: May 6, 2012
Today’s “Asset Search News Roundup” relays the details of a likey abusive trust scheme and an Egmont Group link chart.
- “Seattle’s Ubiquitous Asset Protection Lawyer, Ms. Mary Simon” outlines how an attorney was thought to have employed Belizean trusts as critical components in asset protection plans. U.S.A. v. Arthur Lee Ong, U.S.
Seattle’s Ubiquitous Asset Protection Lawyer, Ms. Mary Simon
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…