Fact: People Hide Money for Personal and Business Reasons

This can raise certain moral and ethical questions regarding a subject’s character and integrity.  Often people are attempting to avoid paying on a debt or judgment. There may also be evidence of money laundering or ill gotten gains which have been removed to offshore accounts. An asset search may be critical in making certain business and investment decisions or in deciding whether or not to commence litigation.

Fact: Shell Companies Have Become Common Tools for Money Laundering and Other Financial Crimes

Most shell companies are formed by individuals and businesses for legitimate purposes; however, ownership and transactional information on these entities can be concealed from regulatory and law enforcement authorities. There are numerous ways in which organizers of shell companies may obscure company structure, ownership and activities.

Fact: It is a common practice in anticipation of a divorce for one spouse to take certain actions designed to hide assets.

We have seen situations where a spouse would pay more than the amount due on income taxes, so that after the divorce is finalized an amended return can be filed with a request for a refund.  Another example is the intentional devaluing of property over time so when allocation of the value of the property occurs, the spouse gets the benefit of the lower value.

Another example is the intentional hiding of corporate assets and/or taking money from a corporation by payment of personal expenses and not disclosing this to the spouse.

Fact: In fraud investigations, commercial litigation, contract disputes, matrimonial cases and other disputes, it is critical to be able to identify and trace assets that are the subject of the dispute.

UHY Advisors’ Global Business Intelligence and Investigations group has successfully located, traced and identified assets in virtually every corner of the world. Our team of experts, including forensic accountants, anti-money laundering specialists and criminal investigators has the experience to assist you in locating hard-to-find assets and providing the necessary information so that you are well positioned to restrain further movement of assets or enforce a judgment.