investigations | business intelligenceNARDIZZI & ASSOCIATES, INC.
Asset searches are a critical part of investment due diligence for banks and investment firms. Alternatively, if a business deal sours, law firms use our services to pierce the corporate veil in order to seize assets of an individual.
We have experience:
• tracing assets in a decades-long embezzlement scheme at a bankrupt Fortune 500 cable operator
• confirming net worth of potential business partners for investment firms
• enforcing judgments
• probing potential defendants for deep-pocket targets
Discovering the true standing of a potential partner makes good business sense. Alternatively, a judgment against a bankrupt adversary may not be worth pursuing. We trace assets around the globe and across borders by assembling a team of country-based experts, accountants and investigators to ethically obtain information needed to collect a judgement.
Assets that can be traced vary but may include real estate, business entities and holding companies (included nested LLC formations and overseas corporations), income streams, intellectual property, and other hard assets. Per the Gramm-Leach-Bliley Act, the firm does not use pretexting to obtain bank account information. We work with lawyers to identify where a target has stock brokerage or banking assets so that subpoenas can be used to obtain records. The assets are then levied and seized.
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Some case studies:
• Businessman who hid assets exposed: A client law firm obtained a judgment against an individual who, despite long years of success in business, appeared to have no assets. Research showed several companies were nested inside an LLC linked to his wife. Further research revealed unexpected income streams flowing from several businesses, including raising livestock in the Southwest and developing mineral rights worth millions of dollars.
• Defunct business still asset-rich: The owner of a restaurant chain was found liable for damages to former employees. Despite his claims of being without assets, a careful trace of assets revealed real property in the United States as well as significant fleet vehicles and bank assets (revealed in an application for a loan that was part of the public record). Plaintiff moved and quickly attached several million dollars of assets.
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