Source: https://www.assetprotectionatty.com/court-cases-defeating-offshore-trusts/
Timestamp: 2019-04-26 02:04:18+00:00

Document:
In re Colburn 145 B.R. 851 (Bkrpt E.D. Va. 1992). (For failing to disclose offshore trust, debtor was denied a discharge and accused of fraud).
Brown v. Higashi, (Bkrpt Ak. 1995). (Assets of offshore trust included in bankruptcy estate. The court stated that “[t]he fact that the trusts were established in Belize, a country notorious for its anti-creditor policies…indicates an intent to hinder, delay or defraud on the part of the defendants”).
In re Portnoy, 201 B.R. 685 (S.D.N.Y. Bkrpt 1996) (Because of offshore money, discharge denied and debtor accused of fraud).
FTC v. Fortuna Alliance (1997) (FTC investigated a pyramid scheme and in doing so was able to get a U.S. District Court to issue arrest warrants to Debtors, who then repatriated millions from offshore accounts in Antigua. This case is often ignored by offshore trust promoters because it was settled out of court).
Riechers v. Riechers, 679 N.Y.S. 2d 333 (1998) (Offshore trust assets included in marital estate for divorce purposes).
Westrate v. Westrate (1998) (Husband accused of fraud and threatened with criminal penalties. Assets included in marital estate).
In re Brooks, 217 B.R. 98 (D.Conn. Bkrpt. 1998) (Offshore trust disregarded and assets seized by US court).
FTC v. Affordable Media, LLC, 179 F.3d 1228 (9th Cir. 1999). (Debtor jailed for refusing to repatriate assets).
SEC v. Brennan, 230 F. 3d 65 (2nd Cir. 2000) (Debtor convicted of bankruptcy fraud).
SEC v. Bilzerian, 131 F. Supp. 2d 10 (D.C. 2001). (Debtor jailed for refusing to repatriate assets).
In re Lawrence, 279 F.3d 1294 (11th Cir. 2002). (Debtor jailed for over six years for refusing to repatriate assets).
Bank of America v. Weese, 277 B.R. 241 (D.Md. 2002) (Debtors paid settlement of over $12,000,000 in order to avoid incarceration).
BankFirst v. Legendre (2002) (Debtor jailed for contempt of court until assets were turned over five days later. See news article on the case HERE).
Breitenstine v. Breitenstine, 2003 WY 16, 62 P.3d 587 (Wyo. 2003) (Trust assets included in property division).
U.S. v. Plath, 2003-1 USTC 50,729 (U.S. District Court, So. Dist. Fla. 2003) (Debtor held in contempt for refusing to obey court order to disclose details about offshore accounts despite the fact that there was no fraudulent transfer).
Eulich v. U.S., (N.D.Tex. Case No. 99-CV-01842, August 18, 2004) (Debtor found in contempt, threatened with fines and jail time until assets repatriated).
FTC v. AmeriDebt, Inc., 373 F. Supp. 2d 558 (D Md. 2005) (Debtor found in contempt and threatened with jail time until assets repatriated).
Morris v. Morris, Case Nos. 4D04-3812, 4D04-4621, 4D04-4763, aff’d Appeal No. SC05-1166 (Fla.S.Ct. April 13, 2006); Morris v. Wroble, Case No. CIV-O6-80479 (S.D. Fla.) aff’d Appeal No. 06-80452-CV-DTKH (11th Cir. Nov. 16, 2006). (Debtor jailed for contempt of court for refusing to repatriate assets).
Barbee V. Goldstein, 2006 U.S.Dist. LEXIS 82945. (Goldstein funded offshore trust over a year before filing for bankruptcy. Bankruptcy Court ordered Goldstein to repatriate funds from Cook Islands Trust. Goldstein failed to comply and was jailed for contempt. Goldstein finally agreed to terminate the trust and repatriate the assets).
SEC v. Jamie Solow, 682 F.Supp.2d 1312 (2010). (Debtor jailed for contempt of court for refusing to repatriate assets) (case affirmed by 11th Circuit HERE).
FTC v. Direct Benefits Group, LLC, 2011 WL 3654469 (M.D.Fla., Slip Copy, Aug. 19, 2011). (Court ordered all offshore funds repatriated without regard to any documents or legal structures).
Indiana Investors, LLC v. Hammon-Whiting Medical Center, LLC No. 45D02-0807-CT-201 (Lake Superior Court, Lake County, Indiana); Indiana Investors v. Victor Fink, No. 12-CH-02253 (Circuit Court of Cook County, Illinois, Chancery Division), Victor Fink transferred assets to a Cook Islands trust provided by one of the popular asset protection providers found on the internet who claimed that the control could be shifted offshore in the event of duress. The plaintiffs were able to obtain temporary restraining orders which prevented the trustees and protectors from shifting the control to the offshore trustee (South Pac Trust International, Inc.) and the bank accounts were all frozen.
Gilmore v. AsiaTrust New Zealand Ltd., 2014 WL 684377 (Cal.App.Distr. 4, Feb.
21, 2014). (California court of appeals finds personal jurisdiction over AsiaTrust, an offshore trust company, and can therefore sue AsiaTrust in California, even though there was no physical connection to California. This case could possibly go to the California Supreme Court).
SEC v. Greenberg, 2015 WL 2450500 (S.D.Fla., May 21, 2015). In May 2015 the District Court upheld a Magistrate Judge’s order holding Debtor (Greenberg) in contempt for failure to pay on a 2002 Judgment. Greenberg lived a lavish lifestyle using an Offshore Trust and several entities as his private piggy banks while claiming he had no ability to pay the judgment. Although Greenberg made a few small payments on the judgment beginning in 2010, it wasn’t enough to prove that he was unable to pay, i.e. claim an impossibility defense.

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