Asset Recovery involves a series of steps that helps rightful owners locate and regain their physical assets, cash or intellectual property through the careful planning and execution of an asset recovery strategy.
A successful asset recovery strategy is based upon a four-phase process that will
- Verify the provenance of the assets
- Trace the misappropriated funds/property,
- Seize possession and control of the assets and
- Return ownership to the asset’s rightful owners.
Each Asset Recovery Phase requires carefully planning and preparation, as successful asset strategies use the element of stealth as an advantage for discovering and recovering assets.
Some attempts at asset recovery are unsuccessful when the culprit behind the theft or fraud of the assets is “tipped off” or “sensed” that inquiries and recovery action were taking place.
In addition, many asset recoveries will involve legal action, so that the evidence of the theft or fraud plus secretion / concealment of the assets must be fully investigated and properly document to meet legal requirements.
Unfortunately, in some cases lack of company records or else clear business contracts may inhibit the confiscation and recovery and these defines need to be assessed before pursuing an Assets
Regents Risk Advisory has undertaken many successful Asset Recovery operations for clients in South East Asia and across the globe. We have created this webpage to help our clients better understand the asset Recovery process and the necessary steps that are needed to successfully recover their assets.
- The Pre-investigative phase establishes the authenticity of the provided information.
The asset recovery process begins by establishing the rightful ownership of the assets in question, and who presently has control/ownership of the assets. An investigator will review financial documentation to trace the assets movement and possible location.
Of particular importance is whether or not the transfer of assets was due to dishonesty, mismanagement, neglect of duty or else a direct fraud and whether it involved employees with the company, an external third party or a mixture of the two.
During the pre-investigation phase the investigator will conduct an asset trace to collect as much relevant information as possible, including the assets value, their possible location(s), and registered ownership of the assets.
The goal of the pre-investigative stage is to
(1) verify that the information provided to the investigator is authentic,
(2) determine whether the client has the legal authority to lay claim to the asset in question and
(3) determine who is currently controlling the target asset and their location.
The Investigative phase establishes the location of the target asset, and who is currently controlling or warehousing the assets.
The investigative stage goal is to secure the target assets in order to avoid the assets from being converted / sold, moved to different location or transferred to another jurisdiction.
In some situations, it is possible to seek civil legal direction in the restraint or seizure of an asset.
In some common law jurisdictions, it is possible request a court order to freeze the asset until the case is heard to avoid the assets being dissipated.
- The Judicial phase involves the civil courts or else negotiations by legal representatives in which agreement is reached as to who is the rightful owner of the assets.
The Judicial Phase of an asset recovery begins when the investigation is completed, and the case is brought to court or formal negotiation. The outcome of this phase is contingent on both the pre-investigative and investigative phases of Asset Recovery to present all useful evidence.
In most cases, the courts will determine a favourable outcome is there is substantial evidence that the assets were illegally diverted and if the evidence presented was legally obtained.
If the courts rule that the assets were illegally taken, they will issue a decree that the assets be confiscated (disposal phase) and return to its rightfully owner.
DISPOSAL OF ASSETS PHASE
- The Disposal of assets phase involves the confiscation or disposal of the asset target in accordance with the legal ruling from the Judicial phase or else as part of an agreement reached between the client and the errant party.
During the disposal of assets phase, the status of the assets can shift from being frozen (if still intact) to confiscation where the request that legal authorities work to return the assets to its rightful owners. The assets may be transferred over under conditions agreed by the various parties to return the assets to the original owner.
In cases where the assets are beyond the reach in a different jurisdiction or else have been lawfully sold or exchanged with another party, then there may be an offer a value-based recovery in which the errant party will be forced to compensate they rightful owner for their loss for an equivalent amount.
YOU NEED AN EXPERIENCED INVESTIGATOR FOR ASSET RECOVERY PROJECTS
Regents Risk Advisory will handle your Asset Recovery with the utmost care and diligence. We understand that these matters can be highly sensitive, at times can have an adverse effect on the organisation and require discretion during each phase.
There is no point in throwing good money after bad, and so Regents Risk Advisory provides a team of experienced fraud investigators to pursue each lead with the knowledge that all viable steps have been taken to recover the assets.
Loss of assets by way of financial fraud is an increasingly common crime that can cost businesses millions. Regents Risk Advisory provides Asset Recovery to ensure that victims do not find themselves at the losing end of fraudulent activity with little recourse to recover these losses.
WHAT TO EXPECT FROM REGENTS RISK ADVISORY?
Prospective clients can expect an initial non-binding consultation from Regents Risk Advisory to understand the circumstances of the loss of assets and an assessment whether the events would warrant an Asset Recovery investigation.
The consultation is confidential, and we give frank and realistic advice as to whether our services will help the client or else another avenue would produce better results.