FraudNet begins by assembling a strategic multidisciplinary transnational team.

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Mobilized Team Approach

FraudNet’s lead lawyer begins by assembling a strategic multidisciplinary transnational team that includes asset recovery lawyers, investigators and forensic accountants from within the network.

The FraudNet team promptly organizes a forensic investigation and selects the optimum jurisdiction to commence court proceedings. The team moves quickly and diligently, using specialized disclosure, gag and seal and investigative orders (e.g., 28 USC 1782 and Anton Piller/Banker’s Trust orders). With their specialized arsenal of civil remedies, FraudNet lawyers can force third-party financial institutions hiding assets to covertly disclose critical information, without tipping off targeted fraudsters.

Other civil court orders grant FraudNet teams the authority to obtain documents and perform search and seizures to retrieve critical information for the investigation. In jurisdictions where civil remedies do not exist, FraudNet teams collaborate with law enforcement to freeze local assets and track assets in other jurisdictions for use in civil or criminal proceedings.

After successful investigation, the FraudNet team freezes the target’s assets across the globe in multiple, simultaneous civil court actions. FraudNet lawyers use injunctions or freeze orders to prevent fraudsters and their accomplices from selling or transferring assets before they can be liquidated to satisfy victims’ claims.

The team also pursues replacement assets and compensation from financial institutions and other professionals who may be held liable for breach of fiduciary and other duties under the law. This can include civil remedies, suing for damages in criminal proceedings or a blend of the two.

Almost overnight, FraudNet brought tremendous international firepower to broaden and coordinate the liquidation legal process and get it recognized across national boundaries in multiple local jurisdictions where SIB’s stolen assets were then traced and frozen.

~FraudNet member Edward H. Davis, Jr., founding shareholder of Astigarraga Davis, Miami, speaking about the Stanford International Bank liquidation, which involved USD $5.4 billion in total losses with stolen assets distributed in half-a-dozen countries.

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