Protection from a government agency - Bank Freeze: Don't get your bank accounts frozen
Our client was a successful cosmetics company. They have seen several of their competitors investigated and picked apart by an agency of the federal government. This agency has the habit of initiating their investigations by presuming guilt, and freezing all the bank accounts they can get their hands on. Once the bank accounts are frozen, the business is unable to pay its employee, vendors or lawyers. Many of these businesses fail before they are able to prove their innocence.
We transferred the cash balances of the bank accounts of this business into offshore structures and offshore bank accounts. Once the cash is overseas an agency of the U.S. government is unable to freeze the bank accounts. This allows our client to fight the agency and survive. We have also move the intellectual property of this business into a stand-alone entity and, to be on the safe side, implemented asset protection for the personal assets of the business owners.