Sanitised case 20
X approached a financial institution to settle a Trust with substantial funds. X was a citizen of one jurisdiction but living in another jurisdiction. X was the son of Y who according to internet research had been subject of a criminal prosecution in a highly regulated (low risk) jurisdiction in which thousands of investors had lost money in a Ponzi type investment scheme. X supplied documents and a letter from the authorities in the low risk jurisdiction stating that Y was not under investigation.
Further enquiries revealed that the documents supplied were in fact forgeries and Y was under investigation by the relevant authorities and was subject of an arrest
warrant. Funds were not settled in the Trust and the business declined.
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