Fraud & Asset Recovery
Our Fraud & Asset Recovery Practice has the ability to provide clients with immediate assistance as soon as a fraud is discovered. We are specialists in obtaining urgent protective injunctions and freezing orders to prevent a fraudster from dissipating monies or assets.
Additionally, we have substantial experience working closely with the authorities and lawyers from around the world to trace, freeze and recover assets that may have been transferred out of Singapore. In addition to obtaining freezing orders, we are also able to secure urgent disclose orders against third parties such as banks to uncover the identity of the fraudsters and/or their associates to facilitate the eventual recovery of misappropriated assets. We further work closely with investigators and corporate intelligence providers to obtain and preserve information and evidence that can be used to trace assets across jurisdictions and to lift the corporate veil that the fraudsters frequently hide behind.
Our firm is the Singapore member of the International Fraud Group (IFG), an elite network of leading international fraud and asset recovery law firms and legal practitioners.
We have through the years handled and coordinated a variety of fraud and asset tracing claims involving billions of dollars including banking fraud, commodity fraud, cyber fraud, insurance fraud, investment fraud, fraud involving the misuse of corporate structures, forgery, and most recently cryptocurrency fraud.
Significant fraud and asset recovery cases we have handled include the following:
- Successfully secured a US$5 billion Mareva injunction for one of the largest Central Asia bank. This is one of the largest freezing order granted by the Singapore Courts and was obtained as part of a co-ordinated effort to simultaneously obtain freezing orders in jurisdictions across the world including the UK, Hong Kong SAR, Luxembourg, and Cyprus.
- Successfully acted for a large Middle Eastern bank in a claim valued at over US$14 million against defendants who had perpetrated a brazen fraud by incorporating various companies to impersonate entities related to multinational oil majors such as British Petroleum and Total in order to induce the bank to extend trade credit facilities. Mareva injunctions were successfully secured against the defendants. We also successfully assisted the bank to obtain partial recovery through enforcement proceedings to seize Gold Bars belonging to the defendants.
- Successfully acted for a Canadian company to secure a US$3.9 million Mareva order in Singapore in respect of a cross-border cryptocurrency fraud involving parties from jurisdictions including Canada, the United States of America, the United Kingdom, Hong Kong SAR, Malaysia, and Singapore.
- Successfully acted for a Singapore company to secure a Mareva injunction to freeze the assets of both the company and its director / shareholder in respect of a commodities trading fraud.