(55) A person looking to incorporate a shell corporation
may choose to create a network of shell corporations
to increase the layers of secrecy; the more layers in a network, the more difficult it will be for law enforcement to track down the true beneficial owner.
But many builders have simply run out of money and then hid behind shell corporations
. Lawsuits are more expensive than ever and the Attorney General lacks the resources to be a viable alternative.
The DA needs to get to the bottom of a mess that quickly includes land deals, shell corporations
One moment we're walking hand in hand with Goofy round the little, fake Eiffel Tower of EPCOT and the next we sink into the morass that paved the Everglades, acquired control of vast swaths of central Florida using a variety of shell corporations
, and produced images of childlike joy for our consumption.
TechCrunch reported that the article by Trond Sundnes of Dagens Naeringsliv and Goran Skaalmo described "how the company booked free software trials as revenues, and how its executives set up shell corporations
for allegedly self-dealing purposes." In total, FAST booked $50 million in fake revenue and $20 million in fictional contracts, the article revealed.
The defendants allegedly laundered and stashed away "untold millions of dollars" using shell corporations
and bank accounts in Central America, the Caribbean, Switzerland, Hong Kong and elsewhere, Brown said.
They hired finance professionals to advise them on investments, shell corporations
and businesses to purchase as ways to conceal assets and launder profits, according to the indictment.
Describe the "pump and dump" scheme and the concerns of the SEC regarding shell corporations
and their role in the reverse merger process.
He took the company public, but he retained most of the stock for himself and a few allies, using layers of shell corporations
set up in tax havens such as Cyprus and the Isle of Man.
"The bank opened an account for him personally, helped him establish two offshore shell corporations
in the Bahamas called Ashburton and Althorp, and then opened more accounts in the name of those shell corporations
both here and in the UK [Britain]," Levin said.
* Helped Pinochet set up offshore shell corporations
and open accounts in the names of those corporations to disguise his control of the accounts;
2003-6 holds that "an ESOP is not established until it is adopted by an employer for the purpose of enabling its employees to participate in a more than insubstantial manner in the ownership of the employer's business and to provide its employees with more than insubstantial benefits under the ESOR" Hence, ESOPs of shell corporations
do not qualify.