Asset Tracing – Significant Debtor

Asset Tracing - Significant Debtor

Acting for a UK law firm, their London based client had incurred a significant debt from one of its customers.  The customer in question had defaulted on a repayment scheme and was not responding to correspondence.

Using basic information provided by the client, our team managed to research, locate and identify several properties in the United Kingdom owned by the debtor worth over £2,000,000.

The UK law firm was then able to successfully file and levy freezing application orders on the property.

The illicit gains from corporate fraud are often concealed in complex financial accounts, offshore trusts and shell companies, but ultimately, fraudsters use this money to finance their lavish lifestyles or to hide their gambling debts. Speed is critical to successful recoveries.

Our Fraud Examiners have extensive cross-border and international experience in working with the legal and law enforcement profession to identify, locate and help freeze the proceeds of fraud using forensic research and investigation techniques.

As part of our asset tracing investigations, we will:

  • provide evidence of global assets to determine whether they can be frozen and/or recovered using local and international laws
  • assess whether the debt or respondent is, or has any association to the United Kingdom, strengthening the legal powers to enforce and recover via worldwide disclosure orders
  • identify properties, commercial interests and other recoverable assets
  • review company filings and evidence to identify links to tangible assets and bank accounts
  • unravel and plot complex offshore company structures using link charting techniques
  • liaise with the appropriate financial institutions to assist in the detection and recovery of misappropriated assets gained from fraud

For more updates, you can follow us on LinkedIn and Twitter @TenIntelligence.

You can also visit our website at Litigation Support, where you can find out how we support clients in the identification of assets.

Our Intelligence | Your Assurance