Exporter

Investigation, Transfer of Funds

Appointed Liquidators to the Hong Kong operating company in a group that sourced home furnishings from the PRC and exported to customers in the US. In addition to the Hong Kong company, the group included PRC subsidiaries as well as Macau and US operating companies. The group owed creditors in excess of USD200 million. As Liquidators, we undertook investigations into a series of transfers of funds to the controlling shareholders and directors’ affiliates for no consideration totalling USD150 million. The Liquidators instituted legal proceedings in Hong Kong and worked closely with law enforcement agencies such as the Commercial Crime Bureau in Hong Kong, the Federal Bureau of Investigation and the US Department of Justice.  The controlling shareholders of the group were sentenced up to 3 years of imprisonment by the United States District Court for the Central District of California Southern Division.

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