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Introduction to FraudNet

Introduction to FraudNet. Presented by: Edward H. Davis, Jr. and Jeff Lane Hong Kong, March 11, 2011. What Is FraudNet? Global network of lawyers Representing victims of fraud, corruption and commercial crime Created at the initiative of the ICC

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Introduction to FraudNet

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  1. Introduction to FraudNet Presented by: Edward H. Davis, Jr. and Jeff Lane Hong Kong, March 11, 2011

  2. What Is FraudNet? Global network of lawyers Representing victims of fraud, corruption and commercial crime Created at the initiative of the ICC Trace and recover money, assets and proceeds of crime

  3. International Chamber of Commerce “The world business organization” Headquartered in Paris Offices in more than 70 countries Commercial Crime Secretariat in London

  4. The Need: Fraud and corruption are pervasive, complicated and invariably cross national boundaries This makes redress and recovery harder Money moves faster than victims can without sophisticated assistance Victims do not know what to do, or who they can turn to for help Fraud is a lower priority for law enforcement who have to deploy scarce resources Law enforcement’s focus is apprehension of fraudsters, putting them out of business and imposing criminal sanctions Our focus is asset recovery for fraud and corruption victims

  5. The Plan: Create an international network of lawyers that specialize in fraud and grand corruption cases, and focus on asset identification and recovery

  6. The Result: A 24/7 transnational, integrated, cohesive, vetted, experienced asset recovery rapid deployment force

  7. Who is FraudNet? 57 members from 50 countries All leading practitioners in asset tracing and recovery All members are immersed in fraud and recovery jurisprudence and legislation

  8. FraudNet’s Reach Europe and Scandinavia Austria Ireland Finland Belgium Isle of Man Norway United Kingdom Italy Ukraine France Jersey Cyprus Germany Liechtenstein Gibraltar Luxembourg Netherlands Spain Greece Switzerland Guernsey Poland

  9. FraudNet’s Reach The Middle East, Asia and Africa United Arab Emirates Israel Hong Kong India Pakistan Nigeria Mauritius

  10. FraudNet’s Reach Western Hemisphere Argentina Peru Bahamas St Kitts and Nevis Bermuda Mexico Brazil Uruguay British Virgin Islands USA Canada Cayman Islands Chile Costa Rica Guatemala Panama

  11. FraudNet’s Reach Pacific and the Far East Australia New Zealand Philippines Singapore Thailand

  12. FraudNet Membership Criteria Strict criteria set by members Administered by Standards & Procedures Committee Only experts with a clear track record are invited to join Exceptional timely service Highest ethical standards

  13. FraudNet Track Record FraudNet members have been retained around the world in corruption and fraud cases Recoveries in the hundreds of millions of dollars for victims

  14. Representative Cases for Governments United Kingdom Trinidad & Tobago Antigua & Barbuda Guatemala Nigeria Brazil Maldives

  15. Representative Multi-Jurisdictional Asset RecoveryCases Petroforte Stanford Investment Bank CDR/Cohen Banco Santos Tradex

  16. The FraudNet Approach • The Team Approach • Legal Counsel • Investigator • Forensic Professionals

  17. The FraudNet Approach • Stealth with Speed • Moving diligently • Gags & Seals • Investigative Orders • Coordination

  18. The FraudNet Approach Strategy Managing multi-jurisdictional cases Where to bring proceedings Accountability

  19. FraudNet Approach Specialized Tools 28 USC 1782 Anton Piller/Banker’s Trust Orders UNCITRAL Ancillary Bankruptcy Proceedings Mareva by Letter Civil Law Criminal Proceedings MLATs

  20. FraudNet’s Value 24/7 responsiveness Local-point-of-contact service for victims The resource of a global network of partners to investigate and take action against fraudsters in foreign jurisdictions Increased odds of recovery In appropriate cases, assisting with access to financial assistance in effecting recovery (third party funding, contingency fee structures, etc).

  21. Training and technical assistance Sharing experiences and identifying best practices Additional Value

  22. The End Presented by: Edward H. Davis, Jr. Hong Kong, March 11, 2011

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