Frequently Asked Questions in Asset Search Inquiries
Question: What is an Asset Investigation?
Answer: An “Asset Investigation” is analytical research that examines all publicly available and accessible information about an individual or corporation that collectively appears to define, directly or indirectly, a current profile as evidenced by both tangible and intangible assets. For example, an Asset Investigation looks for information in relation to both real property, i.e. real estate including time-share ownership and personal property, i.e. motor vehicles, boats, aircraft, as well as financial and business assets, including beneficial ownership of corporations, partnership involvements, financial accounts, stocks, bonds and treasury bills.
Question: My client has already lost a great deal of money. Does it make sense to incur additional expense searching for possible hidden assets to satisfy the judgment?
Answer: Yes, a court judgment is nothing more than a worthless piece of paper unless it can be executed and the relevant funds named in the order recovered. There may be situations where the funds named in the judgment are relatively small and it would not be cost-effective to conduct an investigation that would enable the judgement to be executed. Where the funds in question are significant, however, the relatively modest cost of conducting an investigation can easily be justified. Whether or not it is feasible or rational to undertake an investigation is something that can and should be discussed with our professional advisors. The ultimate decision to proceed with an investigation rests with the client. Global Advocates conducts investigations in comfortable stages or ‘phases’ to ensure that costs are kept to the minimum.
Question: What information do you need to initiate an asset search?
Answer: To initiate an investigation in relation to an individual, the client should be prepared to provide as much information as possible but, most importantly, the full legal name of the person, including any legal name changes because of marriage or other factors, the current and former addresses of the individual, his or her date of birth and the Social Security Number, Passport Number or other National Identity Number related to the individual or, as least, as much of this information as may be available.
To initiate an investigation in relation to a corporation, the client should be prepared to provide as much information as possible, but, most importantly, the full legal name of the corporation, the registration number of the Corporation, the current address of the Corporation, the name(s) of the Director(s) of the Corporation and the name(s) of the Beneficial Owner(s) of the Corporation or, at least, as much information as may be available.
In addition, any other information that may be available can also be useful in conducting an investigation including financial statements, credit card records, bank statements, brokerage records, wire transfer receipts, cancelled checks, tax returns, loan documents, depositions, travel and expense reports, passport information, airline tickets, vacation or business destinations as well as all other relevant data and records. The cost of an asset investigation can be dramatically reduced through the provision of all available and relevant information.
Global Advocates assists victims in the recovery from financial crimes and prosecution of the perpetrators responsible.
Our sources specialize in:
Due Diligence, Dispute Resolution, Mediation, Asset Recovery, Asset Tracing, Asset Protection, Judgment Recovery, Money Laundering Investigation, Discovery, Fraud Recovery, Money/Fraud Schemes