Jail Time, Creditors and Offshore Asset Protection Trusts

07 June 2018
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Jordan S. Zoot
aBIZinaBOX Inc. CPA's Managing Director - CEO
It appears that the US courts have become willing to place individuals that set up Foreign Asset Protection Trusts IN JAIL for an INDEFINITE period of time until they make assets available to repay creditors. For now, the remedy is only available where the individual was, or should reasonably have been aware of the debt at the time the assets were transferred to the trust see https://www.lexology.com/library/detail.aspx?g=7b758353-a61d-4812-b3dd-297f73af6e98&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2018-06-07&utm_term=