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Fraud > Financial
Planning > Asset
Wanna become an "Asset Protection Consultant"? Go
to an expensive "Asset Protection Seminar"? How
come your CPA puts together "Asset Protection Plans"
but never seems to go to court? We answer these questions,
NEW! Asset Protection Group Scam
Federal Trade Commission shuts down Asset Protection Group, Inc., and has it placed into receivership for a franchise scam involving convicted felon Rick Neiswonger.
Joint Stock Company Scam
The Texas Joint Stock Company scam is an form of
asset protection scam that these days seems to be run mostly
the Dallas area by a bunch of con artists who got into trouble
a few years ago selling bogus Pure Trusts...
Beware the "Corporation Sole" being marketing
by scam artists as a tax planning and asset protection tool.
These are unnamed, unlisted shares which evince equity
ownership in a corporation. While the concept of bearer shares
sounds good, there are some specific reasons why they
should be avoided.
Grantor Trusts ("Living Trusts")
v. Merrill Scott
The most high profile of the "high net worth"
law firms is slammed by the SEC for putting its clients into
bogus investments, running a pyramid scheme, and embezzling
client assets. The perfect example of seemingly legitimate
professionals gone bad.
STRANGE! Read the Summary of the Receiver of Merrill Scott regarding
the allegations that Merrill Scott misappropriated in excess
of $9.5 million in client funds, and then had to break in
to their own offices to retrieve their client files! http://www.
merrillscott.com/ Receivership Summary.pdf (in Adobe
Schneider Plea Agreement - Jerome sells his offshore
clients out by agreeing to testify against them in exchange
for a reduced sentence after pleading guilty to one count
of conspiracy to defraud.
and Witmeyer Plead Guilty - Department of Justice
Gurus Jerome Schneider and Eric Witmeyer Indicted
The author of some of the worst books on offshore and asset
protection planning and his flakey tax attorney have been
indicted for conspiracy to defraud the IRS and for wire fraud.
Protection: Concepts and Strategies for Protecting Your Wealth
is unlike any other work on the topic of protecting asset from creditors.
For the first time, a book examines the fundamental and theoretical
underpinnings of asset protection planning, and takes a contrarian
view of popular and heavily-marketed gimmicks such as offshore trusts
that have landed their owners in jail when challenged. This work
uniquely takes a holistic approach to asset protection planning
that considers the specific circumstances of each individual client
rather than forcing all clients into one of three or four “canned”