Served as a Receiver for a German GmbH which defrauded at least 1,000 Germans in an investment fraud involving the transfer of assets to several banks in the Isle of Man, Guernsey and the British Virgin Islands, where the fraudster incorporated several companies to shield the fraud proceeds.
Served as a Receiver for a German GmbH which defrauded at least 1,000 Germans in an investment fraud involving the transfer of assets to several banks in the Isle of Man, Guernsey and the British Virgin Islands, where the fraudster incorporated several companies to shield the fraud proceeds. The fraudster was detained and filed for the insolvency of the German GmbH. Upon appointment as Receiver by the German Insolvency Court, the monies held in the name of the GmbH abroad were collected. Additional information available from the files of the insolvent GmbH was researched and shared with Frankfurt Public Prosecution, which by means of official assistance, led to additional recoveries. The claims of the victims are expected to be satisfied through the Receivership.* Assisted a Receiver appointed in a United States Federal Court with recovery of assets located in Panama which were the product of a faith based Ponzi scheme.
Assisted Nova Scotia firm representing the court appointed Receiver of a failed Caribbean bank in successfully preventing the bank from transferring a registered Panamanian vessel in order to avoid payment of mortgage debt.
Representation of a Federal District Court Receiver appointed in an SEC civil enforcement action in Texas involving an Internet-based fraudulent investment scheme which purportedly raised over US$ 100 million. Immediate action led to the freezing of accounts holding almost US$ 14 million. Forensic investigative efforts, both domestic and foreign, led to the recovery of additional monies, and the freezing of a further US$ 2.7 million in Luxembourg. Recoveries were also obtained from a parallel U.S. Government forfeiture proceeding, a proceeding commenced by Liechtenstein authorities, and an account uncovered in Luxembourg. As a result, the claims of over 1,400 victims have been paid in full.
Representation of a Federal District Court Receiver appointed ancillary to a SEC civil enforcement action styled SEC v. IPIC, et al. This case involved a US$ 170 million affinity fraud that targeted church congregations. Approximately US$ 15 million was recovered, including monies identified in Hong Kong, Greece, Panama, Benin, England and Germany. A supplemental fund was established to permit church leaders to "donate" Ponzi payments back to the fund, which raised over US$ 3 million. The victims numbered over 1,000 and their claims were satisfied through the Receivership process. The case also involved parallel criminal proceedings against the principals.
Assisted the Receivers of a liquidation trust to arrest a Cypriot registered vessel purchased with illegal funds within the context of an admiralty action requesting a declaration that the vessel was subject to a constructive trust for the benefit of the client and further requesting the rectification of the Ship Register to this effect.