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Acting on behalf of an international law firm in an arbitration matter, FGA was engaged to determine the beneficial interests of a Russian national in several entities incorporated in the Bahamas, Cyprus and Switzerland.
It quickly became clear that the corporate structure of the many hundreds of companies found to be linked to individual were both complex and opaque in their makeup. Many associated companies had been incorporated in tax friendly jurisdictions where corporate filing requirements such as shareholding and beneficial ownership disclosure is not a legal requirement for entities which are not publicly traded.
To develop clarification of UBO in some of the entities of focus, research efforts were directed to analysing associated public companies linked to the individual where there is a legal regulatory obligation in terms of shareholding and/or ownership disclosure in connected businesses. Similar information was also located and sourced from ongoing unrelated overseas court proceedings.
Given the complex corporate affiliations identified, research findings were presented using i2 charting so all relationship links were clearly mapped in visual format for the clients to consider.
Acting on behalf of an Asia based private equity fund in relation to their investment in a UK entity now in default of a loan, FGA was engaged to locate the custodians of the company who had provided personal guarantees, and determine their current financial position.
Each of the four Directors maintained a high profile in the UK and were linked to the entertainment industry. Two of the Directors were thought to be residing in Spain, with the other Directors having recent links to the U.S.
Two Directors were traced to an exclusive gated residential development just outside London where they were residing in a substantial detached property valued at c£7.5m. The freehold title of the property was held by an overseas entity in which the Directors were confirmed as UBOs.
The further two Directors were traced to an apartment in upmarket North West London.
Research discovered that the unencumbered leasehold title of their apartment, valued at c£1m, was registered jointly in the Directors names.
Acting on behalf of the Joint Official Liquidators of a BVI fund in official liquidation, FGA was engaged to locate investors in Israel, Taiwan, US, Austria and Japan.
Due to the passage of time since their appointment the Joint Official Liquidators had been unable to contact numerous fund investors at their last known addresses.
Research across the several jurisdictions was able identify contact details for 97% of the investors.
Whilst it transpired that a number of the individual investors had passed away, investigations were able to identify next of kin or immediate family members who the Liquidators could correspond with.
Acting on behalf of the Joint Liquidators of a UK entity in liquidation, FGA was engaged to to determine the current financial position of two individuals who had been appointed Directors of the company during the relevant period. Both individuals were thought to be resident in Guernsey.
Significant property assets were identified in the Channel Islands under the ownership of Guernsey registered companies in which the individuals were confirmed as the beneficial owners.
A Guernsey Incorporated Cell Company (ICC) holding several entities within its corporate structure was identified which highlighted direct links to the individuals and undisclosed corporate assets in Switzerland.
Acting on behalf of an international law firm representing a UK client in an arbitration award against a US entertainment company, FGA was engaged to determine the corporate structure and net worth of the US entity.
The LA based company had incorporated in the tax friendly state of Delaware and visibility of financial data was limited.
Subsequent research identified the US entity as being the Defendant in a separate judgment in the US valued in excess of $1m.
Searches confirmed a number of US judgements had also been entered against the company's two beneficial owners and 3 associated US entities incorporated by the same custodians.
Research findings assisted the client in making an informed decision on enforcement.
Acting on behalf of an international law firm retained by a Middle-East based HNWI client, FGA was engaged to locate the whereabouts of two McLaren P1 vehicles which had allegedly been stolen whilst in the possession of a business associate.
Subsequent investigations confirmed that both vehicles has been fraudulently sold to unsuspecting private buyers in the UK. One vehicle was located at an address in Kensington, the other at a private estate in the home counties.
The current owners were interviewed regarding the circumstances of the purchase of the vehicles and it was confirmed that the individual who had sold the cars was the clients business associate.
Ongoing investigations revealed that the business associate has used several different identities and was actively being investigated by the NCA for suspected money laundering and proceeds of crime offenses.
All research was concluded swiftly whilst maintaining and protecting the anonymity and reputation of the end client.