According to the New York Law Journal, yesterday, a Brooklyn jury convicted former Brooklyn prosecutor, John Headley, of fraud and misconduct over his misuse of New York City Transit Authority funds.  Headley’s company, Advance I.M.E. Co., was hired by the transit authority to obtain medical records and expert witnesses for the authority.  However, Headley

PROBLEM:

Your debtor has been in charge of handling the family’s finances throughout your marriage and you’re completely in the dark as to what is on your tax returns.

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SOLUTION:

We spend an awful lot of time telling you how valuable your debtor’s tax returns will be on your search for hidden assets. 

PROBLEM:

For years, you have heard your debtor complain about a lawsuit between him and his former business partner.  You suspect that the case is nearing a close, and that the debtor may receive a sizeable payout.  The debtor tells you that the case is worth nothing and that, after paying his legal fees,

PROBLEM:

As part of a divorce settlement, the debtor offers you shares he owns in a private company, but he refuses to turn over the company’s financial information.  Because the company is private, the value of its shares is not public information.  You would like to determine how well the company is doing before

PROBLEM:

To make himself appear cash-poor, the debtor, a small business owner, increases his business’s discretionary expenditures knowing that he can recoup the money after the divorce is final.

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SOLUTION:

This problem can take several forms such as overpaying employees, as we discussed here, buying expensive merchandise with the intent of

PROBLEM:

Debtors who own their own business can hide funds by cutting checks to a nonexistent employee or overpaying a current employee. Once creditors are no longer hunting for funds, the debtor simply voids the checks and pockets the money.

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SOLUTION:

If you have access to the debtor’s business records, then you can unravel

PROBLEM:

Some of the cleverest concealers of assets decide to enter into partnerships that are tougher to look up or unravel than corporations or even limited liability companies.

Some states will let you search for limited partnerships on a central website, but sometimes a lawyer can be listed as the agent for process of