Firm profile submitted by ICC FraudNet
Chairman: Edward H. Davis Jr. (Miami, Florida)
Number of member firms: 76 members from 657 jurisdictions
Languages: Afrikaans, Arabic, Bulgarian, Czech, Chinese, Danish, Dutch, English, Filipino, Flemish, French, Gaelic, German, Greek, Hausa, Hebrew, Hindi, Italian, Ibibio, Ibo, Japanese, Latvian, Norwegian, Polish, Portuguese, Russian, Serbian, Spanish, Swahili, Swedish, Thai, Ukrainian, Urdu, Yoruba
With 76 members in 65 jurisdictions and growing, FraudNet is an international network of independent lawyers who are the leading anti-fraud/asset recovery specialist(s) in each country. Founded in 2004 by the International Chamber of Commerce (ICC), FraudNet operates under the auspices of the ICC’s Commercial Crime Services. Its membership extends to every continent and the world’s major economies, as well as leading offshore wealth havens with complex bank secrecy laws and institutions, where the proceeds of fraud are often hidden.
FraudNet members are specialists immersed in cutting-edge fraud and recovery jurisprudence and legislation. While the homecountry member usually serves as the client entry point, each matter receives the attention of a multi-jurisdictional team of specialists who have a track record of working together in transnational recovery efforts. This prior work experience allows for the rapid creation of a matter-specific team that designs and implements a global recovery strategy. Typical cases incorporate state-of-the-art forensics to model the suspected fraud. Such forensics provide the basis for coordinated, specialised courtsupervised disclosure and investigative orders that enable victims to trace and freeze the proceeds of fraud wherever they are held. Depending on the circumstances of any particular case and the jurisdictions involved, the FraudNet team often pursues a combination of civil and criminal proceedings.
Working as a rapid deployment force to quickly identify misappropriated assets and prevent their transfer or dissipation, Fraud- Net has recovered billions of dollars for victims of some of the world’s largest and most sophisticated frauds. FraudNet members regularly act for government agencies and regulators in effecting domestic and international recovery for victims. Leaving no stone unturned in maximising victims’ recovery, FraudNet members also pursue recoveries against financial institutions, professional advisors and other intermediaries who facilitated or enabled the fraud or corruption.
Main Areas of Practice:
FraudNet members frequently represent sovereign governments in recovering assets misappropriated through corruption, embezzlement and fraud. For example, FraudNet members represented Trinidad & Tobago in the Piarco Airport corruption case in multiple jurisdictions and continue to represent the country’s government in an ongoing corruption case involving a state-owned enterprise. Additionally, FraudNet members represented the Republic of Nigeria in the Abacha cases, with more than US$1.3 billion recovered in Switzerland, Luxembourg, Jersey and Liechtenstein. Following the ‘Arab Spring,’ FraudNet members began representing MENA nations seeking to recover corruption proceeds in the hands of former leaders.
Asset Tracing & Recovery:
This specialised core competency for all FraudNet members includes the design and implementation of multi-jurisdictional recovery plans based on state-of-the-art forensics and intimate knowledge of the civil and criminal remedies available in diverse legal systems around the world. Proceeds are traced and recovered from accounts and trusts and other financial vehicles, as well as real property, on behalf of a wide range of clients, including companies defrauded by their own executives or subsidiaries. This also includes the collection of significant judgments where judgment debtors seek to secrete assets beyond the reach of judgment creditors.
In pursuing recovery for Ponzi scheme victims, FraudNet members have represented Chapter 11 trustees for a looted investment firm (and its 26 debtor affiliates) concurrent with representing the firm’s US Securities & Exchange Commission (SEC)-appointed Receiver.
FraudNet members continue to be engaged by the Antiguan liquidators of Stanford International Bank, the commercial bank operated by R. Allen Stanford, as the instrument of an $5.5 billion international Ponzi scheme - the second largest in history. Additionally, FraudNet members currently represent a Chilean liquidator in cross-border insolvency proceedings stemming from Chile’s largest Ponzi scheme and involving the United States, United Kingdom, Switzerland, the Isle of Man and Australia, among other jurisdictions.
Bankruptcy, Insolvency & Receivership:
Many FraudNet members are recognised bankruptcy and insolvency practitioners who routinely access insolvency regimes around the world. They represent creditors, creditors’ committees and estate fiduciaries, such as trustees in bankruptcy and court-appointed receivers, in the pursuit and recovery of the proceeds of fraud. FraudNet members recently pursued assets shielded in shell companies incorporated in multiple offshore wealth havens on behalf of the Receiver for a German GmbH that had perpetrated a major investment fraud.
Complex Commercial Fraud:
All FraudNet members are recognised specialists and routinely engage in representing victims of complex commercial frauds. For example, FraudNet members represented the Hong Kong office of a major international accountancy firm in litigation over the use of offshore trusts.
Antigua & Barbuda: Nicolette M. Doherty
Argentina: Estudio Durrieu Abogados; Governance Latam
Australia: Arnold Bloch Leibler
Bahamas: Peter D. Maynard Counsel & Attorneys
Barbados: Chancery Chambers, Attorneys at Law
Belgium: Field Fisher Waterhouse
Belize: Marin Balderamos Arthurs LLP Attorneys-at-Law & Notaries Public
Brazil: Advocacia Sobrosa & Accioly; FeldensMadruga; Krikor Kaysselian; Duarte e Forssell, Advogados Associados
British Virgin Islands: Martin Kenney & Co Solicitors
Bulgaria: Djingov, Gouginski, Kyutchukov & Velichkov
Canada: Bennett Jones LLP; Rose LLP
Cayman Islands: Walkers Global
China: Jun He
Colombia: Brigard & Urrutia Abogados S.A.
Costa Rica: Pignataro Abogados
Cyprus: Andreas Neocleous & Co. LLC Czech
Denmark: Plesner Law Firm Dominican
Republic: Prieto, Cabrera & Asociados Dutch
Caribbean: BZSE Attorneys at Law
France: Bonifassi Avocats
Germany: Bernd H. Klose Attorney at Law
Guatemala: Carrillo y Asociados
Guernsey: Carey Olsen
Hong Kong: Tanner De Witt Solicitors
India: Aarna Law
Ireland: Arthur Cox
Isle of Man: Callin Wild
Italy: Moro Visconti De Castiglione Guaineri
Jersey: Baker & Partners
Japan: Hashidate Law Office
Jordan: Beiruti Attorneys & Counselors at Law
Kenya: JMiles & Co
Lebanon: ASAS Law
Liechtenstein: Lampert & Partner Attorneys at Law Ltd
Luxembourg: Etude Max Mailliet (E2M)
Mauritius: Geroudis Glover Ghurburrun
Mexico: Basham, Ringe y Correa, S.C.
Monaco: Donald Manasse Law Offices
Nigeria: Sofunde, Osakwe, Ogundipe & Belgore
Norway: Advokatfirmaet Steenstrup Stordrange DA
Pakistan:Mahmood & Associates
Panama: Mizrachi, Davarro & Urriola
Philippines: Angara Abello Concepcion Regala & Cruz (ACCRALAW)
Poland: Kruk & Partners
Portugal: Gómez-Acebo & Pombo
Russia: Ivanyan & Partners
Scotland: Morton Fraser LLP
Senegal: Geni & Kebe
Serbia: Law Office of Tomislav Sunjka
Singapore: Rajah & Tann LLP
South Africa: Nortons Inc
Spain: Squire Sanders
Switzerland: Baldi & Caratsch; Monfrini Bitton Klein
Thailand: Tilleke & Gibbins International Ltd.
United Arab Emirates: Hadef & Partners
United Kingdom: Gowling WLG; Lawrence Graham; PCB Litigation LLP ; Edmonds Marshall McMahon
Ukraine: Egorov, Puginsky, Afanasiev & Partners
Uruguay: Hughes & Hughes
USA: Sequor Law; Husch Blackwell, LLP (MO); Munsch Hardt Kopf & Harr PC(TX); Kellner Herlihy Getty & Friedman LLP (NY) ; Law Offices of Michael Jason Lee APLC (CA)
Venezuela: Brando & Asociados