skip navigation

PUBLICATIONS

Register for Latest Research

Stay Informed
Register with NCJRS to receive NCJRS's biweekly e-newsletter JUSTINFO and additional periodic emails from NCJRS and the NCJRS federal sponsors that highlight the latest research published or sponsored by the Office of Justice Programs.

NCJRS Abstract

The document referenced below is part of the NCJRS Virtual Library collection. To conduct further searches of the collection, visit the Virtual Library. See the Obtain Documents page for direction on how to access resources online, via mail, through interlibrary loans, or in a local library.

 

NCJ Number: 66068 Add to Shopping cart Find in a Library
Title: FRAUDULENT CONVEYANCE AND CONTROL OF ASSETS IN WHITE-COLLAR INVESTIGATIONS
Journal: ECONOMIC CRIME DIGEST  Volume:6  Issue:1  Dated:(OCTOBER 1979 - JANUARY 1980)  Pages:4-8
Author(s): M M LEVY
Corporate Author: National District Atorneys Assoc
United States of America
Date Published: 1980
Page Count: 5
Sponsoring Agency: National District Atorneys Assoc
Alexandria, VA 22314
US Dept of Justice
Washington, DC 20531
Grant Number: 78 DF-AX-0170
Format: Article
Language: English
Country: United States of America
Annotation: TYPES AND INDICATIONS OF FRAUDULENT TRANSFER OF ASSETS ARE IDENTIFIED, AND METHODS FOR INVESTIGATING SUCH TRANSFERS ARE DESCRIBED.
Abstract: A FRAUDULENT TRANSFER OF ASSETS OCCURS WHEN THE SUPPOSED TRANSFEROR RETAINS OWNERSHIP OR CONTROL OF THE ASSETS IN QUESTION, SUCH THAT THE TRANSFER IS A SHAM. WHILE THE ILLUSIONARY TRANSFER DOES NOT IN ITSELF CREATE A FRAUD, IT IS GENERALLY PART OF A FRAUDULENT SCHEME. INDICATIONS OF A FRAUDULENT TRANSFER ARE THE CONVEYANCE OF AN ASSET FOR SUBTANTIALLY LESS THAN ADEQUATE CONSIDERATIONS OR THE TRANSFER OF AN ASSET TO A RELATIVE, FRIEND, OR CLOSELY-HELD CORPORATION. OTHER INDICATIONS ARE ENCUMBERING OR LOANING AGAINST AN ASSET SHORTLY BEFORE BANKRUPTCY OR FIRE LOSS; ENCUMBERING OF AN ASSET BY A FRIEND, RELATIVE, OR CLOSELY-HELD CORPORATION, AND TRANSFERING AN ASSET FROM ONE CORPORATION TO ANOTHER THAT IS RELATED THROUGH STOCK OWNERSHIP, OFFICERS, OR AN INTERLOCKING DIRECTORATE. SOURCES OF INFORMATION ABOUT ACTUAL ASSETS ARE VALUABLE IN DETECTING FRAUDULENT TRANSFER OF ASSETS. IMPORTANT SOURCES OF INFORMATION ARE GENERALLY FOUND AT COUNTY CLERKS' OFFICES AND FEDERAL AND COUNTY COURTHOUSES. THEY INCLUDE CHATTEL MORTGAGES, GRANTEE-GRANTOR REAL PROPERTY RECORDS, JUDGEMENTS, BANKRUPTCY FILES, AND WILLS AND PROBATE. SPREAD SHEETS ARE HELPFUL IN PORTRAYING THE OVERALL ACTIVITY WHEN ASSET TRANSFERS ARE REPETITIVE OVER A PERIOD OF TIME. SUCH SHEETS PROVIDE COLUMNS WHERE DATES, NAMES, PLACES, AMOUNTS, AND EVENTS ARE 'SPREAD' FOR EASE OF ANALYSIS. FEDERAL STATUTES MAKE IT A FELONY TO CONCEAL ASSETS, MAKE A FALSE ACCOUNT, PRESENT A FALSE PROOF OF CLAIM, FRAUDULENTLY RECEIVE PROPERTY, OR TRANSFER ASSETS IN ORDER TO DEFEAT BANKRUPTCY LAWS. MOST STATES HAVE SIMILAR PROVISIONS. (RCB)
Index Term(s): Arson; Bankruptcy fraud; Criminal investigation; Fraud
To cite this abstract, use the following link:
http://www.ncjrs.gov/App/publications/abstract.aspx?ID=66068

*A link to the full-text document is provided whenever possible. For documents not available online, a link to the publisher's website is provided. Tell us how you use the NCJRS Library and Abstracts Database - send us your feedback.