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So what is asset recovery and how might it help
your judgment this is Dave at AFX search
licensed investigators tell you about a typical scenario for
asset recovery we had a case we worked on where party had a
business relationship with a partner and the business relationship went sour
the there was a lawsuit our client won a judgment about three million
dollars
and the other party paid
somewhere between 1.8 million and said I'm out of money I have no more money I’m
broke can't pay the other 1.2 but didn’t file bankruptcy
still appeared to live a relatively affluent lifestyle
but showed bank statements I have no more money
our client didn't believe that the money didn't exist we did a little investigation
this actually was after a couple years of the judgement not being paid
we did some surveillance we did some interviews we did some
observation of financial records and it didn't appear there was money there
but we did find was a brokerage account that was in
somebody else's name that was being accessed by
the debtor party and
it took a month or two to put the connection together that this money actually came
from the debtor
we actually did some tracing of flow of funds
and found that now about 18 months prior to that
there was some money that came from a corporation controlled by the debtor
that was put into this brokerage account through like you know e trade or
one of the other brokerage
companies and this person was accessing it from
ATM's to get money for their everyday life it was a very simple process of
getting a rid of garnishment
against this account once it was demonstrated that was controlled and
actually it
a nominee trustee and within
probably forty-eight hours after discovering the account
all of the remaining judgment was cleared
and put into the client's account and
it's one thing a remember if you have a subject who is claiming poverty
who at one time was affluent most people who had affluence or high net worth
don't go to position of poverty they're going to do everything they can do
to retain that affluent lifestyle and they have connections with
revenue they have connections to get them income and they probably have
retained some of their prior wealth so it doesn't go away people don’t go from a
luxury lifestyle to living on the street they are always gonna find a way to
regenerate in rejuvenate that affluent lifestyle and that income
if you have more questions about doing asset recovery you can reach us at our website at
afxsearch.com