A person hiding assets from you could park their money in an offshore bank account & hire an intermediary to be the account’s bank signatory. One website offers this “Bank Nominee Signatories Service” for a cost of about $1000 per year. This person could additionally title their real estate in the name of shell companies. A person can also hide assets by converting cash into portable valuable commodities like diamonds and smuggle the diamonds offshore.
This kind of scheme is outlined by “Detecting Hidden Assets By Following A Money Trail.” “Searching For Assets Hidden By Lawyers” examines another way to hide assets. It explains a person might hide their cash by laundering it through a lawyer. In these kinds of schemes the person hides his/her true beneficial ownership of assets. You may be able to detect true beneficial ownership & search for assets 3 ways:
I. Collecting human intelligence/informants’ tips is sometimes the only practical way to detect a sophisticated scheme to hide assets. If there is an informant with knowledge of the hidden assets, the informant might be willing to tip you about the assets. This informant may be a disgruntled: employee; family member; paramour; etc.
II. Private investigators may help you identify informants & gather leads about hidden assets through surveillance or other surreptitious means. Some investigators however, search for assets illegally or provide spurious information. Ex-Toronto private investigator Elaine White & ex-police detective Cullen Johnson for example, ran an “asset locator” business. They supplied their clients with bogus bank account information.
III. Legal tools can be critically important in searching for assets. “How Does A Divorcing Spouse Recover Assets Concealed In A Swiss Bank Account?” gives a glimpse of the kinds of tools generally available in many countries across the globe. Among other things, the tools can include serving letters rogatory upon foreign bank witnesses & tipping prosecutors or other governmental authorities.
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Copyright 2017 Fred L. Abrams