Structuring cash, (a.k.a. smurfing), is one thing to look for when spouses hide money during their divorces in community property states. US Treasury Department’s FinCEN explains structuring occurs if you “break up…currency transactions [at banks] into multiple, smaller amounts to avoid being reported to the government.”1 This means organizing cash transactions beneath the
Hiding Community Property In A High Net Worth Divorce
If you are in a high net worth divorce, your spouse might hide community property from you by misusing:
These are just three of the common money laundering methods. Although not a high net worth divorce case, filings in Brooklyn Federal Court in USA v. Ahmad reveal
Hunter Biden, The House Oversight Committee & Money Laundering Red Flags
As was widely reported, The U.S. House Committee on Oversight and Accountability, (“the Committee”), published its August 9th memo about Hunter Biden and some other Biden family members. On the one hand, House Republicans on the Committee allege
Divorce & Hidden Money: Concealed Assets & Concealment Schemes
Learning about concealment schemes can help you spot concealed assets your spouse places beyond your reach during your divorce. Therefore, a divorcing spouse trying to identify hidden marital assets / community property could learn a lesson from Dr. Krishnaswami Sriram. Dr. Sriram is thought to have concealed assets from the IRS in two suspected
Alaska Dentist Allegedly Hid Assets Twice
The First Scheme To Hide Assets
Prosecutors in U.S.A. v. Lockwood, allege Alaska dentist Glenn Lockwood hid assets twice from the IRS. During Mr. Lockwood’s first scheme, Mr. Lockwood supposedly hid $575,000 in federal income
A Computer Search For Hidden Marital Assets?
I. Alleged Hidden Marital Assets At A Bahamian Trust
Mrs. Jennifer Stein suspected her anesthesiologist husband Dr. Barry D. Stein, had hidden marital assets during their divorce. According to Mrs. Stein, Dr. Stein transferred assets to a Bahamian trust to place them out of Mrs. Stein’s reach. Dr. Stein allegedly manipulated the family finances, Mrs.
4 Ways People Conceal Assets
On February 2, 2021 Mr. Vincent DelGiudice pleaded guilty in his federal case to concealing assets by money laundering and conducting an illegal gambling operation in Illinois. During 1996, a Cook County Illinois court also reportedly convicted Mr. DelGiudice of keeping a gambling place. Meanwhile, Mr. DelGiudice’s federal case gives us a glimpse of 4
Concealing Assets At A Sham Church And Offshore Bank Account
In USA v. Allen, Pennsylvania anesthesiologist Mr. James G. Allen Jr. pleaded guilty to tax fraud on June 4, 2019. Mr. Allen’s plan for concealing assets from the IRS seemingly relied on two common concealment methods. These two methods were abusing an offshore bank account and misusing a nominee, (i.e. intermediary). Mr.
CFO Allegedly Had Millions In Hidden Money Offshore
The IRS thinks Florida businessman and Novatek CFO Mark Anthony Gyetvay, had hidden money offshore. The IRS believes Mr. Gyetvay secretly stashed as much as $93 million offshore in 2 Swiss bank accounts. On September 22, 2021 Mr. Gyetvay was indicted for suspected: tax fraud, failure to file FBAR’s, making false statements
3 Tips For Your Bank Searches
As your adversary may hide money in multiple bank accounts, you may need to perform bank searches. For example, my December 21, 2020 post mentioned a scheme in which 150 checks worth $2 million were seemingly hidden at 12 bank accounts. At your bank searches you would seek your adversary’s customer information from banks. Therefore,