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Definition Certified Fraud Examiner - a professional trained to unravel complicated financial scenarios looking for fraudulent manipulation of assets and liabilities.

Application in Divorce Sometime called a forensic accountant or asset searcher or a certified licensed investigator (CLI), a forensic accountant analyzes marital estates for evidence of dissipation of assets or hiding of assets. For example, a forensic accountant examines UCC filings for evidence of collusion with a business partner in hiding or misrepresenting marital assets.

Judges generally look very unfavorably on both dissipation and hiding of assets, and a certified fraud examiner can be called to testify as an expert witness.

In preparation of a divorce a spouse may take actions to protect certain assets. This is equivalent to hiding them in the eyes of the court, so attempting to shelter assets from a property distribution upon divorce will result in severe penalties if discovered.

See also UCC Filings.

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Hidden Assets
Very often in a divorce, one spouse attempts to hide marital assets. This is one reason why when a divorce is in the offing, it is a good idea to begin to collect al financial information. Assets can be hidden as false debts to friends or in a closely held business.

Contributed on 6/20/2007 by: DivorceDex.com Staff
Category: Property Division (Applicable in All States)
Protecting Marital Assets Through a Corporartion
Piercing the corporate veil is not always the easiest of tasks. Many divorcing spouses will seek starting a corporation in the state of Nevada to hide marital assets. They choose Nevada because the corporate laws are much more lax and permit silent principals. When someone is a silent principal, he or she is able to hide behind the corporate entity, essentially hiding money in the anonymity.

Contributed on 6/20/2007 by: DivorceDex.com Staff
Category: Property Division (Applicable in All States)

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