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Money laundering and Constructive trust
Member rating: No Rating | Words: 3385 | Submitted: Sun Jan 06 2008
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Money laundering and Constructive trust When an institution launders funds, there is not only the criminal law and regulatory issues involved but there is also the potential threat of civil proceedings to recover the funds. For this to occur there must be a real owner of the money in pursuit of it. Two problems occur: the concept of real owner is widely defined and the area of law concerned seems to be going through a period of development.These occur where a court decides to determine after the event that a state of affairs shall be treated as though the parties had set up a trust. Thus the obligations of trustee can be imposed on someone who had not thought of themselves as being in that position. This was traditionally done where someone was behaving in an illegal or immoral fashion. It has also been used to create liability by creating a...
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