Category: Asset Protection Planning

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. This includes over $455 million stolen by the Lazarus Group, a Democratic People’s Republic of Korea (DPRK) state-sponsored hacking group that was sanctioned by the U.S. in 2019, in the largest known virtual currency heist to date. Tornado Cash was subsequently used to launder more than $96 million of malicious cyber actors’ funds derived from the June 24, 2022 Harmony Bridge Heist, and at least $7.8 million from the August 2, 2022 Nomad Heist. Today’s action is being taken pursuant to Executive Order (E.O.) 13694, as amended, and follows OFAC’s May

img

If you have not learned from the Panama Papers debacle, then listen up to the newly enacted Panama laws for declaration of the ultimate Beneficial Owners’ reporting requirements.  Penalties are extremely harsh!

The resident agent will be sanctioned with fines ranging from $1,000  to $50,000 for each legal person whose information is not registered or updated, considering the seriousness of the offense, the degree of recidivism, the magnitude of the damage, and the size of the resident agent. On the other hand, the Super Intendency of Non-Financial Subjects will order the Public Registry of Panama to suspend the corporate rights of legal entities that have not been registered or updated in the Unique System of Registration of Ultimate Beneficial Owners by their reside
img

U.S. INDIVIDUALS ALLEGED TAX CRIMINALS BY DENMARK

Part III.

SETTLEMENT REACHED WITH NORTH CHANNEL BANK In August of 2020, the North Channel Bank offered an unusual statement in their website addressing the indictment proceedings of the Kingdom of Denmark against North Channel Bank. Below are excerpts of this statement:

“Over the past three years, under the current management, the bank has cooperated with the investigating authorities in a very transparent manner and supported the investigations.” The business organization under the Bank’s name was used to facilitate”…the illegal cum-ex business at the expense of Denmark and Belgium was already ceased by the current management in early 2017.” The Bank did act quickly to remove any employees where

img
U.S. INDIVIDUALS ALLEGED TAX CRIMINALS BY DENMARK Part II. INDIVIDUALS AND COMPANIES IDENTIFIED. As discussed in Part I. of this continuing Article, Denmark is vigorously looking for the 6 individuals who have allegedly defrauded the Government of Denmark of more than $2.1 billion via a dividend-tax
img
On April 13, 2021, the Danish State Prosecutor for Serious Economic and International Crime publicly named and charged 3 U.S. residents and 3 British residents with defrauding the Danish tax authorities of more than US$176 million in a sham trading scheme called “cum-ex” which is Latin meaning

This listing contains the name of each individual voluntarily giving up their United States citizenship with respect to whom the Secretary received information during the quarter ending December 31, 2020. For purposes of this listing, long-term residents are treated as if they were citizens of the United States who lost citizenship.

List for the quarter ending December 31, 2020

 

 

img
How much did Colin Kaepernick actually receive from his “opting out” of the contract with the San Francisco Giants following the 2016 season and the recent  Collective Bargaining Agreement, (CBA), with the NFL.[1]  In a recent interview between Kaepernick’s attorney, Mark Geragos and