Recent Articles

Hiding Assets Through Portable Valuable Commodities

Fred Abrams
January 06, 2009 05:00

The Asia / Pacific Group on Money Laundering explains on its typologies webpage, that one way to hide assets is by purchasing portable valuable commodities like diamonds.  The typologies webpage further gives the example of a beneficial owner concealing assets by transferring diamonds to...

Asset Search News Roundup: January 4, 2009

Fred Abrams
January 04, 2009 05:00

This "Asset Search News Roundup" highlights shell companies which can be used to conceal bankruptcy estate, marital, probate or other assets.  As "Bank Melli Accused Of Hiding Its Fifth Avenue Assets" mentions, the asset forfeiture case against New York's ASSA CORP. is...

Mr. Madoff's Offshore Money Trail

Fred Abrams
December 31, 2008 21:00

My father was in a few classes with Mr. Bernard Madoff at N.Y.C.'s Far Rockaway High School in the 1950's.  He remembers that Mr. Madoff had lived in the Rockaways and was an ardent swimmer.  My father even showed me their high school yearbook "The Dolphin", which contains a...

Asset Search News Roundup: December 28, 2008

Fred Abrams
December 28, 2008 05:00

Mentioned by this "Asset Search News Roundup" are: bearer instruments such as money orders, structuring cash deposits and a possible financial fraud at one national chapter of Transparency International:      *The article "Accused St. Louis drug ring leader pleads...

Iran's Bank Melli Hides Its Fifth Avenue Assets

Fred Abrams
December 25, 2008 05:00

A MarketWatch article mentioned that U.S. authorities are seeking the sanction of asset forfeiture in connection with a 36-story Fifth Avenue N.Y.C. building, alleged to be partly owned by Iran's Bank Melli.   "Assets Seized at Company Suspected of Funneling Money to Iran" and / or...

Bank Melli Accused Of Hiding Its Fifth Avenue Assets

Fred Abrams
December 25, 2008 05:00

A MarketWatch article mentioned that U.S. authorities are seeking the sanction of asset forfeiture in connection with a 36-story Fifth Avenue N.Y.C. building, alleged to be partly owned by Iran's Bank Melli.   "Assets Seized at Company Suspected of Funneling Money to Iran" and / or...

Asset Search News Roundup: December 21, 2008

Fred Abrams
December 22, 2008 03:00

O.J. Simpson's  Pro Football Hall of Fame ring; a report that Minnesota could even suffer because of Bernard Madoff's suspected $50 billion Ponzi scheme; and Liechtenstein's new Tax Information Exchange Agreement; are the focus of this "Asset Search News Roundup":   By...

Financial Discovery & Foreign Bank Secrecy Laws

Fred Abrams
December 17, 2008 05:00

If an adversary hides assets in a foreign bank located in a tax haven, then the foreign bank will likely rely on foreign bank secrecy laws to resist financial discovery of that particular adversary.  A foreign court located where the foreign bank witness resides might however, ultimately apply...

Asset Search News Roundup: December 13, 2008

Fred Abrams
December 13, 2008 05:00

Past "Asset Search News Roundups" have described different schemes in which assets have been hidden. This " Asset Search News Roundup" is similarly about the criminal complaint filed against Illinois Governor Blagojevich which raises among other things, the question of whether...

Foreign Bank Secrecy Laws & An Asset Search

Fred Abrams
December 09, 2008 05:00

Assets hidden in an offshore tax haven which are  the subject of a divorce, forced collection proceeding, etc., can sometimes be uncovered by eliciting evidence from a bank witness residing in that offshore tax haven.  This is true because letters rogatory or other legal proceedings can...