TRADE-BASED MONEY LAUNDERING

More Trade Transparency Units Needed

Smuggling and trade fraud are on the rise, according to Viêt Nam News (27 October 2015). The Telegraph reports that the authorities in China have arrested 21 people on suspicion of defrauding almost one million Chinese investors of 50bn yuan (£5.3 billion) after an online peer-to-peer lender turned out to be a giant Ponzi scheme (1 February 2016). Money laundering and fraud seem to be on the increase. Trade-Based Money Laundering (TBML) is one of the big threats facing us today.

According to Premium Times (21 December 2015; Read the rest »

02
Feb 2016
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Legal

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THE GOOD, THE BAD AND THE BOSS

Three different personas during testimony

There are matters to consider before you enter a courtroom as plaintiff, defendant or witness: for instance, what you say, your body language, how you present yourself and what you wear. The judge will be watching you. You don’t believe me? Read for yourself!

The judge about the defendant:

Murdock tried out three different personas during his testimony. During his deposition, he showed the true force of his domineering personality. During the first day of trial, Murdock tried to appear more reasonable and conciliatory on direct, but on cross-examination, he could not resist being combative. He denied …
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15
Dec 2015
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Legal

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FRAUD (part II)

Legal forms of fraud

The person who forges a diploma, agreement or identity document is guilty of a criminal offence. Although the concept of ‘fraud’ is only mentioned in relation to human trade in the Criminal Code of Curaçao, there are various offences which can have a relationship with fraud in the sense meant herein: forgery, embezzlement, swindle, (fraudulent) bankruptcy and bribery.

In civil-law relationships the doctrines such as breach of contract, wrongful act, misleading advertisement, error and deception come to mind. In addition, there are lots of other Acts with special provisions such as tax law. I will pass …
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12
Sep 2015
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Legal

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FRAUD (part I)

Curaçao

Fraud is an everyday occurrence. It is of all times, and a phenomenon that happens in every country. In discussions about fraud (and corruption) in Curaçao you regularly see that people refer to other countries, in particular to the Netherlands, to downplay this phenomenon here somewhat. The small number of criminal prosecutions and convictions are often mentioned. In this connection it is often said that they are of ‘a political nature’. Sometimes it is even alleged that someone’s integrity can only be discussed when there is a criminal conviction. We can delude ourselves a lot!

In the event of …
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08
Sep 2015
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Legal

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FRAUDNET – THE POWER OF ONE GLOBAL NETWORK

FraudNet in action

According to The Irish Times, lawyer Antenor Pereira Madruga Filho (a member of FraudNet) is hired by the Irish Government to represent it in a high-profile case involving a lawyer who fled Ireland in 2007 with debts of €80m. The lawyer was arrested in Brazil almost two years ago and has been held since in a prison (click here for the newspaper article). FraudNet Members are regularly in the news and you can read about some of them here.

FraudNet is a worldwide network of lawyers specialized in asset tracing and …
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25
Aug 2015
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Legal

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KAREL FRIELINK NEW FRAUDNET MEMBER

Global network that can help victims

 

Karel Frielink has been appointed member of FraudNet for all six islands of the Dutch Antilles. FraudNet is a worldwide network of lawyers specialized in asset tracing and recovery. Set up in 2004 by the anti-crime arm of the International Chamber of Commerce, FraudNet currently numbers 70 members present in 62 countries, providing victims of fraud with the possibility of retaining the best asset recovery professionals in the targeted jurisdictions.

Following strict criteria set by its member-elected Standards and …
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17
Feb 2015
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Legal

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ICC FRAUDNET

The leading specialist international network of fraud and asset recovery lawyers

Organized and operating under the auspices of the Commercial Crime Services of the International Chamber of Commerce (ICC), FraudNet is a 24/7 international rapid deployment force that pries open the vault of bank secrecy and helps victims locate and recover their stolen assets with the same cyber powered speed, stealth, reach and proficiency as the most sophisticated global fraud network.

Fraudsters meet their match in FraudNet’s experienced team of civil asset recovery lawyers, investigators and forensic accountants, who creatively wield their own sophisticated legal and investigative tools to trace …
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13
Feb 2015
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Legal

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THE CREDIT CRUNCH, THE ECONOMIC RECESSION AND MAJOR FRAUDS SCHEMES

Lawyers are having a heyday

Many countries, companies and private individuals are suffering severely from the credit crunch, the economic recession and the various fraud schemes (Madoff, Stanford, Enron, etc.). However, what causes misery to some represents opportunity to others, in this case, the lawyers.

The financial meltdown, for instance, has resulted in governments interfering in financial institutions, people being sacked, and litigation. Securities fraud results in litigation. It seems like a lawyers’ paradise, however let’s not forget that many lawyers are feeling the impact of the crisis as severely as everyone else.

It is however fair to say that …
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17
Mar 2009
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Legal

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TEXAS BILLIONAIRE ALLEN STANFORD ACCUSED OF FRAUD

Stanford fraud charges tricker panic

Fraud charges laid against Allen Stanford sparked panic across the Caribbean. Stanford and his companies, among them Stanford International Bank Ltd. (a private offshore investment bank in Antigua), Stanford Group Co. and Stanford Capital Management LLC are subject to a fraud inquiry.

According to The Daily Herald “The ripple effects of the “massive ongoing fraud” charges against Texan billionaire Allen Stanford are seeping into the Netherlands Antilles where several people and businesses have invested in Stanford International Bank.” Victims in the Netherlands Antilles and Aruba may contact the …
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19
Feb 2009
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Legal

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