Corporate Owners Hide Assets, Identities

Roughly four miles from the famed Las Vegas casino strip, ABC Equity's corporate
office is registered in a modest business suite located off West Sahara Avenue.
Great Fortune 600 is registered in the same suite. So are DK Financial, Hill 99, Stock
Savant, ZZYZX Holdings — and more than 1,000 other corporations.
They share something in common besides their business address. Each lists the same man
as its sole corporate officer in Nevada incorporation records. He is William Reed, a
businessman with a suspended law license and the target of a Federal Trade Commission
lawsuit that alleges he and a convicted felon teamed in a business that promoted forming
Nevada corporations to shield assets "from 'capricious federal judges and any government
agency.' "


BACKGROUND: Got $95 and 5 minutes? That's about all it takes
A USA TODAY computer-aided review shows that the two men and their business,
Asset Protection Group, are part of a thriving mini-industry that has capitalized on real or
perceived gaps in domestic incorporation laws and virtually non-existent government
oversight to promote some U.S. states as secrecy rivals of offshore havens.
A multi-agency U.S. Money Laundering Threat Assessment issued in 2005 cited Nevada,
Wyoming and Delaware as the states with laws most conducive to anonymous corporate
ownership. USA TODAY's review, which examined databases of all Nevada and
Wyoming incorporations but was unable to obtain comprehensive data for Delaware,
found:

•A Florida man who served a federal prison term for an international currency trading
scam used his secret ownership of a Nevada corporation to launch a similar fraud after he
was released. More than 120 victims lost $8 million.
•Interpol or other international investigators probing suspected crimes overseas have
contacted the Wyoming Secretary of State's office about corporations registered by a
businessman whose Internet-based venture advertised using Wyoming firms to shield
assets.
•The sole publicly listed officer for nearly 100 firms incorporated in Wyoming is a
woman whose listed address is a postal box in the Republic of Seychelles, an Indian
Ocean nation that has been the focus of corporate secrecy concerns.
Ownership transparency obstacles.
Jalil contended that the IRS and law enforcement investigators can check on any
company by examining bank records. Claiming that corporation secrecy laws can block
investigators "doesn't sound like reality to me," Jalil said.
But the internal workings of some corporations prove particularly resistant to
transparency. Wyoming incorporation records show that at least 90 companies created
since 2002 list Stella Port-Louis as the sole listed officer. Many of the firms, such as
Export Deutschland AG and Motorcomsa S.A., have foreign corporate names.
The only address for Port-Louis listed in the records is a postal box in the Republic of
Seychelles. A USA TODAY interview request mailed in January to Port-Louis' postal
box could not be delivered. Port-Louis did not respond to a message relayed via
Registered Agency Services, the Cheyenne company that is the local agent for the
corporations that list her as an officer.
JoLyn Jordan, an official of Registered Agency Services, a firm that files incorporations,
said she believed Port-Louis was a nominee for owners outside the USA. "I don't know
who she is, or if she's for real," said Jordan. Asked how to determine if they were shell
firms created for crime, Jordan said, "You don't know."
Jack Blum, an international tax expert and former special counsel to the Senate Foreign
Relations Committee, said money laundering investigations have historically focused on
the Seychelles. While saying he had no information about the Port-Louis firms, he said
the filings seemed designed to frustrate.
"Whoever's trying to research it will go batty," said Blum.

Contributing: Barbara Hansen

USA Today article
http://www.usatoday.com/money/companies/regulation/2007-02-23-tax-havensusat_
x.htm

Comments

  1. Leon Brown
    He who acts before he thinks, will spend more time thinking about his mistakes, than he who listens to his thoughts first.

    ReplyDelete
  2. ask miss portlouis how many passports does one person need.

    ReplyDelete
  3. There you go Stella Port Louis- an interpol alert was sent from USA on you.

    Now you cannot accuse me or SFP for meddling in private lives and you cannot say that you are free to walk under a coconut tree.

    SFP does not care about personal lives. SFP is concerned about corruption in Seychelles and the mis use of Seychelles good name.

    Take your offshore criminal activity to another jurisdiction. That is the message. Keep Seychelles name clean.

    There are more to come, but my advise to you is to turn yourself in and enter the Witness Protection Program, to save yourself.

    Seselwa Unite!

    Sesel Pou Seselwa!

    Christopher Gill
    Leader
    Seychelles Freedom Party.

    ReplyDelete
  4. Dear Mr Christopher Gill

    Those of us with knowledge of much complexer Fianacial workings understand/try to understand your step.

    However Miss Port Louis is not the culprit. She is a small "Fourmi"take some time lookat the "fourmie on a big seychellois tree how they work and communicate" -we have addressed the issues of COMECON privatization,the USSR,East Germany - those involved from the USA,then to cover up Two wars we saw - Miss Port Louis cannot start a war in Market Street even if she tried. This is the core of the Global mega rot - then East and West Fianacial system -our/my person was involved importantly,all those great ones and the messed up very big Time Mr Ralph Volcer would say - Becasue of that Link and that SIROP program untold those who choose and have been workings with Seychelles not in $ billions - but $Trillions -you need to work/research the issues. No craping we tried and hence Wikileak came about. Those who know know this. Iraq war was a massive smoke screen.The state of things today - the poor humans.

    Had we not put our foot down - including current Seychelles Army and police would have been hijacked and Seychelles turned into something you would never have like -it take understanding and they are related to the above.

    Join me/us to help explain how and those who have made so much wealth in the ~West and how it is workings for all the mega so call near collasp of the EURO and they know a great deal about my personal involvement. How Mr Bernie Madoff was stitched - because he had refused to listen to our person and he knew a very grerat deal and why he knew so much. Mr Soro!.What about the new monetry Fiscal system and the wars started. Seychelles is a major player in spite of its tiny size. Those Arabs who know and they can recreate thousands of Miss Port Louis. The White House and others in the USA very aware.

    Please refer to our Facebook input about Islington and London Police yesterday. I(no crapping given the comment above played key role that the SFO in Britain came to existance and still - where do we go from there. The so call free Western Capitalist system. Oh the African have caught on to the system and workings and the Mad House)Look at the size and dimensions of the USA Judiciary and Police compared to Seychelles.

    ReplyDelete
  5. Witness Protection Program, where do you go for that?

    ReplyDelete
  6. Gill Oli sa interpol allert. Montre nou

    ReplyDelete
  7. All politician like Ram,Volcer,Boulle bullshit all of them on their faces show us they dont have faces to make committment for their peoples.You guys how long you been in politic?Ram,Boulle.Volcer.

    Gill and co keep up the good jobs others have been wacthing and looking and participating in with corruption.SFP dont let them continue with corruption a country with corruption a country with debts and proverty rise crimes rise peoples get depressive and up in drugs become alcohlic and homeless that mean a fail state and we are already in for a country with 95.000 plus 15.000 immigrants its a shame.

    PP you can not handel,to hot in your hands you are letting Sesel and seselwa falling down.

    ReplyDelete
  8. Hi Mr Gill, you see how I beat the world system? Am in Mahe tell them to come and get me? Mon a bause zot avec delo boiyee. Stella.P.

    ReplyDelete
    Replies
    1. My dear sweet girl, if what I read here is true you should get down on your kness and pray God for forgiveness.It is never too late to change.

      Delete
  9. Dont worry Seychelles is small its easy to find you if interpol want you.Interpol allert criminal dont have to see it just wait.You beat the world sytem but you will not beat bars.

    And this Pissedoff coming again on this blog to use name of other peoples,we know your sytel pissdoff.

    ReplyDelete
  10. Let this be a reminder to all corruptors on the land. Get your greedy hands from the cookie jar before you get caught. One down….. more to go. Congratulations to Seychelles Freedom Party and team.

    ReplyDelete
  11. Dear Jeanne D’Arc,

    Just a little advice from one of your worst enemy (sort of) the way you see me that is.

    Making believing that you are strong and untouchable,
    making yourself known as a bully,
    you tried to re-instated freedom but it all falls apart.

    Turn pain into anger and hurt into hatred,
    I have been there, done it too
    not worthy at all.


    Take a break; leave the fight for another time in life.
    Take care of what matters the most ‘your health’.

    After all, shouldn’t your health come first?
    How will you fight when you are out and under?
    (Think about it!)

    SFP needs you alive not dead!

    For once in your life, do something for yourself
    fight that bloody diseases that’s eating you inside
    be a hero to yourself and your family
    hence to be a hero to us all who may be suffering from the same.

    From the enemy you see in me.

    ReplyDelete
  12. 21.00
    Ignorance can be educated,crazy may be medicated,but there is no cure for stupidity.Stupidity might kill you¨

    OPPPSSS-- PP thugs said "it was not a priority to investigate money laundering" Of course not,for it would unveil ,name and shame PP corruptoids one by one.

    Jeanne D'Arc

    ReplyDelete
  13. JAM and Laporte are the two perfect candidates to investigate money laundering.Need to go after the big fish.

    ReplyDelete
  14. SIBA,FIU;GOVINDEN;JUDICIARY;OPPOSTION LEADERS;NGOs,,ASSEMBLYIMF,WORLD BANK,SADC all should have long reacted and asked PP to investigate this gross crime.Should PP thugs refuse,IMF,World Bank and Western Donor countires should simply hold back any more loan,aid for PP thugtocrats.Their Motto should be no investigation in money laundering,corutpion means no more loans.Note that all those loans that have been given to PP since 2008 have never been accounted for.

    Do not count of Michel the Butcher to take the iniciative to investigate any of his ilks.You know,one must have a conscience to feel ashame,admit guilt and take responsibility.To say Pp thugs have conscience is like saying snakes have legs.

    Pp thugs are incapable of feeling shame,guilt,comapsion and appreciation.Their reason d?etre is the prusuit of power at any cost to dominate and control others.

    our conscience is that"inner voice or inner light"that helps us distinguish right from wrong.
    The bifurcation of shame from guilt is the manifestation of the lack of conscience.But if one fells shame and admits guilt(moral or legal)for the actions producing the shame,he experiences on inner transformation which compels him to make amends.

    The painful feeling of dishoner,disgrace,humiliation and self critism transforms the shameful act into honorable act or at least produces genuine atonement.

    Admmission of gilt is always followed by moral self-redemption and salvation.

    Jeanne D'Arc








    ReplyDelete
  15. I do not think Stella is a smaller fish then La porte or Jam. Stella has proven to be quite a serious scammer. $480 Million in Stenolo Drug Cartel money laundered under her name is not small time.

    ReplyDelete

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