Dirty money gets produced by organized crime and other criminals though drug trafficking, prostitution, tax evasion, corruption, financial crime and many other sources. Spearheaded by the Financial Action Task Force (FATF), world leaders and governments have sought to monitor and suppress money laundering and terrorism financing around the globe. This became even more pressing in our country after the terror attacks on 9/11. Due to our legal system and anonymous entities like LLCs, the United States is an easy place to hide money and terrorists have begun using our financial and legal systems to launder dirty money and clandestinely move it around the world to finance terrorist and other illegal operations. Unfortunately for attorneys, there is a very fine line between assisting clients and taking part in criminal activity.
Peter W. Bowie, the former Chief Judge of the U.S. Bankruptcy Court for the Southern District of California, has seen these matters develop first hand from his view from the bench. In this CLE course, Judge Bowie explores the evolving link between bankruptcy, money laundering & terrorist financing and the attorney’s duty to investigate. The main topics addressed by Judge Bowie include money laundering around the globe, the use of anonymous entities to hide money and the attorneys increased duty to investigate. Additional topics presented: the Financial Action Task Force (FATF) on Money Laundering’s 40 recommendations, the 2002 ABA Task Force, ABA Formal Opinion 463, risk based client due diligence, how individuals hide money from creditors, the anonymous purchase of numerous high end American properties, the 2016 GlobalWitness.org report, the Panama Papers, confidentiality, attorney-client privilege, Rule 11 and recent case law regarding attorney investigations.
Peter W. Bowie, former Chief Judge of the U.S. Bankruptcy Court for the Southern District of California, spent 27 years on the bench. He leverages his vast experience in the courtroom to conduct mediation settlement conferences and contribute to the firm’s mediation practice. A skilled mediator, Judge Bowie has successfully resolved several vigorously contested, large fee application disputes, and other important cases. Before joining the bench, he served in the U.S. Attorney’s Office for the Southern District of California for 14 years, the last six as Chief Assistant U.S. Attorney, overseeing operations of the criminal and civil divisions. Earlier in his career, he served as a trial attorney in the U.S. Department of Justice, where he was hired through the Department’s prestigious Honors Program.