Fraud & Asset Recovery

Fraud and commercial crimes have increased dramatically in both number and the amounts involved. The globalization of business transactions and establishment of offshore havens for looted assets have made successful recoveries for victims of fraud and commercial crimes increasingly complex, costly and challenging. Retaining experienced experts who can develop and implement the most cost-effective and legally aggressive plan of attack is critically important to a successful recovery.

We frequently represent victims of fraud and other commercial crimes including individuals, investor groups, business owners, financial institutions and corporations in matters involving allegations of complex financial fraud, theft, embezzlement, money laundering and other white collar crimes, public corruption, bribery and foreign corrupt practices.

Our Fraud & Asset Recovery group has coordinated a number of international fraud and asset identification investigations resulting in significant domestic and offshore recoveries. As a result of our experience in cross-border matters, we have developed a wealth of practical, hands-on experience, coupled with an aggressive and knowledgeable approach and a worldwide network of contacts, which enables us to rapidly assemble a team of experienced legal, forensic and other professionals in multiple jurisdictions to assist our clients as needed.

Based on our investigative and forensic capabilities and our international network of legal affiliates, consultants and intelligence operatives, we work effectively to identify and recoup financial losses and misappropriated assets including assets transferred across international borders. We also collaborate closely with foreign governments as well as domestic state and federal officials to enforce legal actions and increase the possibility of a recovery for victims.

Munsch Hardt is a member of FraudNet, an invitation only organization affiliated with the International Chamber of Commerce (ICC), which consists of professionals throughout the world who have significant experience in matters involving complex commercial fraud and offshore asset identification and recovery.

We have been involved in successful asset investigations and recoveries in Mexico; Panama; Costa Rica; Guatemala; Liechtenstein; United Kingdom; Isle of Man; Germany; Bahamas; Luxembourg; Hong Kong, China; Greece; Benin and countries throughout the Caribbean.

Munsch Hardt attorneys and counselors are also frequent speakers and authors on a variety of fraud, asset recovery and related legal topics at conferences, symposia and universities in the United States and abroad.

• Representation of Dennis L. Roossien, Jr., as Receiver, who was appointed ancillary to a Securities and Exchange Commission (SEC) civil enforcement action styled SEC v. International Product Investment Corp., et al. (IPIC) in the United States District Court for the Northern District of Texas. This case prosecuted a $170 million affinity fraud that targeted church congregations. Proceeds of the fraud were recovered from Hong Kong, China; Greece; Panama and Benin. Additional recoveries were obtained in England and Germany. A supplemental fund was established to permit church leaders to donate Ponzi payments back to the fund. The claims of over 1,000 victims are currently being addressed. The case also involved parallel criminal proceedings.
• Representation of Joseph J. Wielebinski, as Receiver, in the Le Club Prive, S.A. case, which was commenced by the SEC in the United States District Court for the Northern District of Texas. Le Club Prive, S.A. and other entities and individuals operated an Internet based fraudulent investment scheme. The receiver promptly froze the domestic funds of the defendants and conducted a thorough investigation including efforts in offshore jurisdictions. These efforts led to the recovery of additional monies including funds in a Houston, Texas forfeiture action commenced by the United States and the freezing of funds in Luxembourg. Contemporaneously, a claims process was instituted, which resulted in the filing of nearly 1,400 claims.
• Representation of Joseph J. Wielebinski, as Receiver in the Ameritech, Inc. case. This action was commenced by the SEC. Munsch Hardt supported the SEC in obtaining a $24 million judgment against the principal individual defendant, who was extradited from Panama, defending that judgment on appeal, handling the claims of investors, addressing the environmental issues created by a fraudulent oil and gas scheme and retaining an international investigative team on a contingent basis to pursue the assets of the Panamanian organization that sponsored and supported this illegal enterprise.
• Joseph J. Wielebinski has also been requested to serve as a receiver for the Federal Trade Commission (FTC) and the Securities Investor Protection Corporation (SIPC) and is a Special Deputy Receiver for the Texas Department of Insurance (TDI).
• Representation of a Chapter 11 liquidating trustee in an international fraud case involving litigation and assets in the Isle of Man, Switzerland, Germany, Bahamas, Luxembourg, United Kingdom and other countries. As counsel for this trustee, Munsch Hardt was able to recover approximately $80 million in a bankruptcy case with listed assets of less than $300,000.