venture offshore, be sure your
advisors are experienced and well qualified professionals with ties to
the U.S. and who only offer you their professional services.
You have no doubt seen the ads on the Internet
and in some magazines. They promise quick wealth, instant
protection of your assets from everyone, offshore tax savings and
preposterous returns on your investments plus assurances of
Everyday lots of people lose lots of money to
these scams. Even when the 'Get Rich Quick' offer is unbelievable,
people still plop down their money in hopes of 'hitting it big'. Don't
be suckered in.
There are a lot more ways to lose your money than
by being sued or having it taken by the government. We believe far more
money is lost due to unscrupulous or incompetent scoundrels who appeal
to your greed or fear to entice you to give them large amounts of your
You can also get taken to the cleaners with the
advice of tax advisors and lawyers who are simply not familiar with the
complex tax laws that apply to foreign transactions, investments or
businesses. We have had to clean up more problems caused by incompetant
advice than by crooked promoters.
Another source of potential problems are the
promoters who are selling package cures at bargain prices. If they are
promising offshore tax savings and asset protection with a secret
foreign bank account, an international business company with bearer
shares or some convoluted arrangement with multiple trusts and foreign
corporations, be wary. The hustlers and promoters are not concerned
about the problems you may encounter with the IRS. In fact, if they can
entice you to engage in an arrangement that involves tax evasion, they
will threaten to turn you in to the IRS if you complain about how they
are mis-managing your assets offshore.
The internet is full of such hustlers and
We can't (won't) provide specific names and
details unless they are a matter of public record and can be verified,
but we can alert you to the kinds of phony deals that are being
promoted in the guise of saving taxes, asset protection and offshore
We invite readers to submit verifiable
information about various kinds of financial scams which we can add to
this part of our web site, as a public service. Please send your
information to Offshore Press.