How Can I Protect My Assets Abroad During a Federal Investigation?

Are you facing a federal investigation and worried about protecting your assets abroad? You're not alone. Many of our clients come to us with similar concerns when they find themselves in the crosshairs of a federal probe. At Spodek Law Group, we understand the stress and uncertainty you're feeling. But don't panic - with the right legal strategy, you can take steps to safeguard your international holdings.

Understanding the Risks to Foreign Assets

When you're under federal investigation, ALL of your assets - both domestic and foreign - may potentially be at risk. The government has broad powers to freeze or seize assets they believe are connected to criminal activity. And they don't stop at the U.S. border.Here's what you need to know:

• Federal agencies like the DOJ and IRS can work with foreign governments to locate and freeze overseas accounts
• Failing to disclose foreign assets can lead to additional criminal charges
• Even legitimate international holdings may be scrutinized as potential money laundering vehicles

It's a scary situation. But you're not powerless. With our help, we can develop a strategy to protect your hard-earned assets abroad.

Legal Strategies to Safeguard International Assets

When it comes to shielding foreign holdings during a federal investigation, you have options. But you need to act quickly and carefully. Here are some key strategies we may recommend:

1. Full Disclosure and Transparency

One of the WORST things you can do is try to hide foreign assets from investigators. That will only make you look guilty and potentially lead to additional charges. Instead, we advise being proactive about disclosing all international holdings upfront. This shows good faith and may help keep those assets from being frozen.

2. Demonstrating Legitimate Sources

The government will be looking for any signs that foreign accounts contain ill-gotten gains. We'll work with you to clearly document the legitimate sources of funds in your overseas holdings. This could include:

• Business records showing international profits
• Documentation of inheritances or gifts from abroad
• Records of foreign investments and returns

The more we can prove your assets came from legal sources, the harder it will be for the feds to touch them.

3. Utilizing Asset Protection Trusts

Certain types of foreign trusts can add an extra layer of protection for your international assets. We may recommend setting up an asset protection trust in a jurisdiction with strong privacy laws. This makes it much more difficult for the government to access or seize those funds.

4. Strategic Fund Transfers

In some cases, it may make sense to move assets between accounts or jurisdictions. But this has to be done VERY carefully to avoid raising red flags. We'll advise you on if and when such transfers are advisable.

5. Negotiating with Prosecutors

If your foreign assets do end up frozen, all hope isn't lost. We have extensive experience negotiating with federal prosecutors to unfreeze legitimate funds. Our goal is always to protect as much of your wealth as possible.

The Importance of Experienced Legal Counsel

Trying to protect international assets on your own during a federal investigation is extremely risky. One wrong move could cost you everything. That's why having seasoned legal representation is absolutely critical.At Spodek Law Group, we bring decades of experience defending clients in complex federal cases. We understand the nuances of asset forfeiture laws and how to navigate international financial regulations. When you work with us, you benefit from:

• A team of former federal prosecutors who know how the government operates
• Deep knowledge of both domestic and international asset protection strategies
• A track record of successfully shielding millions in client assets
• Aggressive negotiation skills to push back against overreach by federal agencies

Don't leave your financial future to chance. Contact us today at 212-300-5196 for a confidential consultation. Let us put our expertise to work protecting your assets abroad.

Common Mistakes to Avoid

When facing a federal investigation, panic can lead people to make critical errors that jeopardize their assets. Here are some key pitfalls to avoid:

1. Suddenly moving large sums overseas: This looks incredibly suspicious and will likely trigger additional scrutiny.
2. Failing to report foreign accounts: Not disclosing overseas holdings on your taxes or FBAR forms is a quick way to get hit with additional charges.
3. Lying to investigators about international assets: Dishonesty will only make things worse. Always be truthful (with the guidance of your attorney).
4. Trying to access frozen accounts: Once assets are frozen, attempting to withdraw or transfer funds can lead to criminal contempt charges.
5. Relying on amateur advice: Your brother-in-law or accountant likely doesn't have the expertise to navigate these complex legal waters. Trust the professionals.

By working with our experienced team at Spodek Law Group, we'll make sure you steer clear of these common mistakes that could cost you dearly.

Case Study: Protecting a Client's Swiss Bank Account

To illustrate how we approach asset protection, let's look at a recent case:Our client, a successful entrepreneur, was under investigation for alleged tax evasion. He had a significant account in Switzerland that wasn't properly reported on his taxes. The government was moving to freeze all his assets, including the Swiss account.Here's how we handled it:

1. We immediately disclosed the account's existence to investigators, showing our client's willingness to cooperate.
2. We provided extensive documentation proving the funds came from legitimate business activities abroad.
3. We negotiated with prosecutors to keep the account unfrozen in exchange for our client paying back taxes and penalties.
4. We set up a compliant structure for future reporting of the account to avoid any issues going forward.

The result? Our client kept his Swiss assets intact and avoided criminal charges by addressing the issue proactively.

Taking Action to Protect Your Assets

If you're facing a federal investigation, time is of the essence when it comes to protecting your international holdings. Here are the immediate steps you should take:

1. DON'T make any sudden moves with your foreign assets without consulting an attorney first.
2. DO gather all documentation related to your overseas accounts and holdings.
3. CONTACT Spodek Law Group immediately at 212-300-5196 for a confidential consultation.

Remember, the sooner you get experienced legal counsel involved, the better your chances of preserving your hard-earned wealth. Don't wait until it's too late - reach out to us today and let us put our expertise to work for you.With our help, you can navigate this challenging situation and emerge with your international assets intact. Trust Spodek Law Group to fight tirelessly on your behalf.