Making Banks Pay for Madoff’s Fraud

by RitaZhao April 27, 2011 Articles

Risk Management   April 4, 2011 The impact of Bernard Madoff’s $18 billion Ponzi scheme will be felt for a long time to come. With Madoff in prison, his assets seized and sold, lawyers for his victims must now turn to other sources to make their clients whole. Enter the banks. Madoff handled billions of dollars. […]

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Asset Hunting and Anti-Money Laundering: Justice on the Trail of Tears

by RitaZhao April 27, 2011 AML

by Michael Diaz ,Jr., Carlos Gonzales, Sumeet H. Chugani and Xingjian Zhao The Financial Law Report, March 1, 2011 In recent years, the terms “Ponzi scheme,” “financial fraud,” and “mon­ey laundering” have become unfortunate household names. Fraudsters like Bernard Madoff have given new meaning to the term “financial fraud,” leaving behind a trail of tears and […]

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Are Governments Making Progress in Fighting Money Launderers?

by Shu July 12, 2009 Articles

In a meeting June 29 with Colombian President Alvaro Uribe, US President Barack Obama  said both the Northern and Southern hemispheres have a shared responsibility to reduce illicit flows of money. Is progress being made on combating money laundering in the Americas and is the burden being shared appropriately? What are some of the strongest […]

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FBAR – International Tax Law

by Shu June 30, 2009 Articles

  Under Title 31 USC and Title 26 “US persons” now have until this July 2nd, 2009, unless extended, to file TD F 90-22.1 which requires reporting of all foreign bank, securities, derivatives, or financial product accounts over which the US person has “signatory authority” (read ‘dispositive power’) even if the person has zero financial or […]

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Working With Korean And Chinese Attorneys

by Shu April 17, 2009 Articles

Asian attorneys have different expectations and perceptions of their roles than American attorneys By Dan Harris on 12.9.2008   Since no two legal systems in Asia are exactly alike, I will focus on China and Korea. Working With Lawyers In Korea In Korea as in Japan, the overwhelming majority of people who go to law […]

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The Dangerous Decline of Latin America and What the U.S. Must Do

by Hongwei Shang February 15, 2008 Articles

Book Program Andrés Oppenheimer Latin American Editor and Columnist The Miami Herald and Author SAVING THE AMERICAS: The Dangerous Decline of Latin America and What the U.S. Must Do Books Available for Sale Before and After the Program Supporting Organizations: Argentine-Florida Chamber of Commerce, CAMACOL, CEGA Miami, Coral Gables Chamber of Commerce, Gateway Florida, Georgetown […]

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Chinese Law Past and Present and Recent Legislative Developments

by Hongwei Shang January 11, 2008 Articles

In an article tiled "Past and Present and Recent Legislative Developments," Hermes Pazzaglini examined the most significant legislative innovations in the People’s Republic China within the broader context of the historical development of the Chinese legal system.  According to Pazzglini, the current PRC laws can broadly be traced to: (1) the traditional concept of law and state authority, […]

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China-Brazil trade hits US $12b in 6 months

by Hongwei Shang December 21, 2007 Articles

Bitaleral trade between China and Brazil hit $12 billion in the first half of this year, up 30.1% from last year, according to the Chinese Minstry of Commerce. This broke down into $4.54 billion of exports and $7.46 billion of imports, up 38.5% and 25.5% respectively. Brazil is China’s largest trade partner in Latin America, […]

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UAE, China discuss anti-money laundering cooperation

by Hongwei Shang November 22, 2007 AML

  The delegation met in Beijing with the Deputy Governor of People’s Bank of China, Su Ning, Chairman of the Banking Regulatory Commission and Vice- Chairman of Securities Regulatory Commission. Also, the delegation met with officials from the Chinese Financial Intelligence Unit, Ministry of Justice and Chairman of China UnionPay company, which owns the main […]

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Latin America Still Only a Secondary Economic Partner for China

by Hongwei Shang November 5, 2007 Articles

Enrique Dussel Peters, in an editorial for the TaiPei Times describes the challenges in trade between China and Latin America. Peters describes the relations between China and Latin America as “paradoxical.” As bilateral trade increases and diplomatic relations strengthen, a lack of knowledge persists between the two regions, and in some cases tensions are growing. […]

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