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 lawyersRepresenting victims of fraud, corruption and

commercial crimeCreated at the initiative of the ICCTrace and recover money, assets and

proceeds of crime

International Chamber of Commerce

“The world business organization”Headquartered in ParisOffices in more than 70 countriesCommercial Crime Secretariat in London

The Need:

Fraud and corruption are pervasive, complicated and invariably cross national boundaries

This makes redress and recovery harderMoney moves faster than victims can without

sophisticated assistanceVictims do not know what to do, or who they can turn

to for helpFraud is a lower priority for law enforcement who

have to deploy scarce resourcesLaw 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

The Plan:

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

The Result:

A 24/7 transnational, integrated, cohesive, vetted, experienced asset recovery rapid deployment force

Who is FraudNet?

57 members from 50 countriesAll leading practitioners in asset tracing and

recovery All members are immersed in fraud and

recovery jurisprudence and legislation

FraudNet’s Reach

Europe and Scandinavia

Austria Ireland FinlandBelgium Isle of Man NorwayUnited Kingdom Italy UkraineFrance Jersey CyprusGermany LiechtensteinGibraltar LuxembourgNetherlands SpainGreece SwitzerlandGuernsey Poland

FraudNet’s Reach

The Middle East, Asia and Africa

United Arab EmiratesIsraelHong KongIndiaPakistanNigeriaMauritius

FraudNet’s Reach

Western Hemisphere

Argentina PeruBahamas St Kitts and NevisBermuda MexicoBrazil UruguayBritish Virgin Islands USACanadaCayman IslandsChileCosta RicaGuatemalaPanama

FraudNet’s Reach

Pacific and the Far East

AustraliaNew ZealandPhilippinesSingaporeThailand

FraudNet Membership Criteria

Strict criteria set by membersAdministered by Standards &

Procedures CommitteeOnly experts with a clear track record

are invited to joinExceptional timely serviceHighest ethical standards

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

Representative Cases for Governments

United KingdomTrinidad & TobagoAntigua & BarbudaGuatemalaNigeriaBrazilMaldives

Representative Multi-Jurisdictional Asset Recovery

Cases

PetroforteStanford Investment BankCDR/CohenBanco SantosTradex

The FraudNet Approach

• The Team Approach–Legal Counsel – Investigator–Forensic Professionals

The FraudNet Approach

• Stealth with Speed–Moving diligently –Gags & Seals– Investigative Orders–Coordination

The FraudNet Approach

StrategyManaging multi-jurisdictional cases

Where to bring proceedingsAccountability

FraudNet Approach

Specialized Tools28 USC 1782Anton Piller/Banker’s Trust OrdersUNCITRAL Ancillary Bankruptcy

ProceedingsMareva by LetterCivil Law Criminal ProceedingsMLATs

FraudNet’s Value

24/7 responsivenessLocal-point-of-contact service for victimsThe resource of a global network of

partners to investigate and take action against fraudsters in foreign jurisdictions

Increased odds of recoveryIn appropriate cases, assisting with

access to financial assistance in effecting recovery (third party funding, contingency fee structures, etc).

Training and technical assistanceSharing experiences and identifying

best practices

Additional Value

The End

Presented by: Edward H. Davis, Jr.

Hong Kong, March 11, 2011