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Investigating & Recovering Hidden Money & Other Assets

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Fifteen West African countries sent judges; &/or prosecutors; &/or law enforcement agents to attend the asset recovery workshop I recently lectured at in Abuja, Nigeria. I was one of four resource persons at the workshop which was a joint project of the European Union and the Inter Governmental Action Group Against Money Laundering In West Africa. At the work shop, I talked about government officials, (i.e “politically exposed persons“), who launder large bribe…
On October 8th & 9th in Abuja, Nigeria I will lecture about asset recovery & tracking assets.  I will present 2 lectures to law enforcement agents who work in West Africa. The lectures are called “Whistleblowers, Secret Bank Accounts & Recovering Hidden Assets” & “Asset Recovery Case Studies & Discussion.” I am presenting the lectures during an asset recovery workshop held by The Inter Governmental Action Group Against Money Laundering In West Africa (GIABA).…
I. DURING YOUR ASSET SEARCH LOOK FOR A MONEY TRAIL There is always a money trail you can follow during your asset search. This is true no matter how your adversary hides assets.  Even if your adversary maintains a secret offshore bank account there is a money trail. The money trail at the offshore bank would consist of: account opening documents; monthly account statements; and bank signature cards.  Therefore, as part of your asset search…
My tips for finding hidden money are at Seven Tools For A Successful Asset Search. Hiring a private investigator is also usually a good idea. For additional help in your search for hidden money, you may need some of the following. A) HANDWRITING EXPERTS If forged documents were used to hide or steal money, you may need handwriting experts/forensic document examiners to conduct a questioned document examination.  “A Case of Tax Fraud,
A scheme to hide assets may start out with the primary goal of placing assets beyond your reach. The scheme may then develop the secondary goal of hiding assets from tax authorities/committing a tax fraud. To increase your chances of a successful asset search, you should therefore look for indicators of tax fraud. A good list of the indicators is published by the IRS at IRM 25.1.2.3, Fraud Handbook – Indicators of Fraud. Just…
During your asset search gather tips from witnesses who not only know about your adversary’s assets but are also at odds with your adversary. If you are litigating against your adversary you might collect tips from these witnesses by deposing them. Additionally, you should consider hiring a private investigator to conduct witness interviews to sniff out tips concerning your adversary’s assets. A witness interview I attended alongside an investigator is described at my post: “…
You may be able to use 28 U.S.C. § 1782 to perform asset searches connected to your foreign: divorce; dispute over a will; financial fraud claim; etc. This is true because pursuant to 28 U.S.C. § 1782, the U.S. District Court can allow you to serve subpoenas in the U.S. in furtherance of lawsuits in a foreign land.  You would serve these subpoenas on U.S.-based witnesses with knowledge of the assets. One subpoena based on…
Searching for an adversary’s hidden assets can be like tracking a shell-game-operator.  In USA v. Khalili for instance, Mr. Dan Farhad Khalili was accused of hiding assets & undeclared revenue from the IRS for 15 years at 5 offshore banks. The offshore banks were located in Switzerland & Israel. Although on 4/27/11 Mr. Khalili applied for the IRS’ Voluntary Disclosure Program, the IRS found him ineligible for it. Mr. Khalili ultimately pleaded guilty to failing…
In the criminal case against Robert Bandfield, the IRS & SEC searched for assets laundered offshore. These assets were the proceeds of stock pump & dump schemes.  The illicit proceeds of the pump & dump schemes were more than $250 million. The $250 million was believed to be hidden by money laundering carried out by Mr. Robert Bandfield & his co-conspirators. According to a 2/6/17 press release, Mr. Bandfield was the “architect of [an]…
A person who resides & is sued out of the U.S. may hide assets in the U.S. This person could hide assets by secretly: purchasing real estate in the U.S.; opening bank accounts in the U.S.; titling property in the names of shell companies formed in the U.S.; etc. How can you search for assets which are hidden in the U.S.? If the hidden assets are connected to a lawsuit outside the U.S., (& you…