Private Investigations On Asset Tracing

By Author: Asha Infotech
Total Articles: 95
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Victims of fraud routinely hire new york private investigators to seek monetary compensation or retribution. The venue of private investigations or where the assets to be recovered are located also leaves an impact on the asset search. That impact may include challenges in identifying and recovering the assets, and may raise the cost of doing both. The following treatment introduces this subject and provides food for further reflection.
Tracing Assets, Hidden or Not
At the outset all aspects of the private investigation should be held in strict confidence. It will be difficult enough to trace assets held by seasoned fraudsters or their accomplices. If fraudster learns about the investigation that aims to deprive them of those assets, they will certainly take steps to place the assets even further beyond the reach of the investigators.
The investigative process often begins even before a court of competent jurisdiction awards money or other assets to the fraud victim. An essential first step in tracing assets is to completely debrief the victims of the ...
... fraud. It is important to obtain from the victims any and all information regarding the nature of the fraud. This include copies of checks, wire transfer advices or other documents that relate to the transfer of funds to the fraudster as well as to learn of the victim’s current relationship with the fraudster.
Also, it is essential to obtain from the victim any correspondence with the fraudster. All telephone numbers and addresses that the victim used to contact the fraudster should be recorded. This information offers a starting point in searching for the fraudster and the assets to be identified, located and ultimately recovered. If the victim is still on reasonably good terms with the fraudster, the victim should be advised to maintain that relationship, though certainly not to give the fraudster any more money.
This information will be useful if surveillance or undercover operations are performed. The victim should also be cautioned not to initiate contact with the fraudster unless told to do so by the new york private investigators.
‘Prime the Pump’
In connection with this, and in an attempt to “prime the pump,” the victim should be instructed not to disclose that new york private investigators are now involved. Instead, the victim should ask the fraudster if he is still taking investments and if so, whether the victim could earn some consideration.
Public records research is always a preliminary step in identifying and locating assets. Most countries maintain public records that identify the ownership of real property, the principals of business entities, the parties to legal disputes, and other essential information that could be used in the search for assets.
Be aware that fraudsters often maintain an asset protection fortress that separates them from the ownership or control of assets. There are various means to breach the asset protection fortress, but first the assets must be identified and located, and the name in which they are vested must be determined.
It is common knowledge that fraudsters frequently vest the ownership of assets in the names of close associates, family members or business entities such as trusts, foundations and corporations. Fraudsters also vest title to accounts held in financial institutions in a similar manner. Determining who has signature authority on these accounts is essential, but is not always legal or practical until judicial remedies are employed. However, in some instances, judicial remedies can be pursued before litigation is initiated.
Surveillance and covert activities are also useful tools in identifying, locating and recovering held by a seasoned fraudster who has constructed a complicated asset protection fortress.
For more information on private investigation, asset tracking and other techniques visit our website at www.rqinvestigations.com