Us Forfeiture

IRS Criminal Investigation casework mainly focused on significant legal source tax investigations, with increasing numbers of high-quality, high-impact criminal investigations with international tax administration aspects.  The public may be surprised to know that IRS Special Agents have a significant impact in the area of public corruption.  

The traditional mindset of investigators when it comes to the use of nominees by the subjects of their investigations is connected to the ownership of assets; and that only trusted individuals or companies, that they can exercise some type of dominion and control over, will be used to hold title to their assets.

While the News of the World phone hacking investigation is still in its early stages, the possibility of parent company News Corp. being forced to make restitution to victims, families, shareholders and even the UK and US governments through civil and criminal litigation, and the US Foreign Corrupt Practices Act, is very real.

Citigroup Inc. asked a bankruptcy judge to throw out a $430 million lawsuit brought by the Trustee in the Bernard Madoff bankruptcy^*. The trustee doesn’t allege and can’t claim that Citigroup defendants had actual knowledge of the insolvency^* of Madoff’s firm or that any transfer they received was made with a fraudulent purpose, the New York-based bank said in a filing yesterday in U.S. Bankruptcy^* Court in Manhattan.

A Manhattan federal judge has frozen the assets of three Swiss asset managers accused of illegally profiting from trades made ahead of the $1.2 billion sale of Arch Chemicals to the Lonza Group, the Securities and Exchange Commission announced on Monday. The S.E.C.

Switzerland has blocked Syrian assets worth 27 million Swiss francs ($32 million), Swiss news agency SDA reported on Sunday, citing a Swiss newspaper report that the Swiss Secretariat for Economics (SECO) confirmed. The news agency said SECO declined to comment on whether the assets of President Bashar al-Assad had been frozen. Reuters, Sunday, July 3, 2011

The trustee seeking money for victims of Bernard Madoff's fraud won court permission on Tuesday to file a $975.5 million lawsuit against two feeder funds he said contributed to the Ponzi scheme^*. The judge authorized Irving Picard to file the lawsuit against the Kingate Global Fund, the Kingate Euro Fund and more than one dozen other defendants.