REVIEWS ABOUT FOLLOW THE MONEY

 

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Fifteen years after I left the FBI, I found myself investigating a series of federal crimes while working for a private client.  James Rice disappeared from St. Croix - and the face of the earth - on July 20, 1986.  Rice’s daughter, Kathy Clements hired me to find out what happened.  With no body, no witnesses, and no one talking, I focused my investigation on a series of frauds committed against his assets by his second wife, Astarte Davis Rice.  But there were no results until I ran into an energetic federal prosecutor, David Nissman, who seemed to have the whole criminal code at the tip of his tongue.  By time we were through, a list of forty charges were filed against Astarte Davis Rice and others.

Mr. Nissman went on to become the publisher for the Department of Justice and then the United States Attorney for the Virgin Islands.  He has taken 30 years of expertise and created the best all in one financial investigation and money laundering guide for investigators and attorneys in print today, entitled Follow the Money.  Amazon proclaimed his last book, Proving Federal Crimes to be one of the ten best law books of the year when it came out.  

When you begin a financial investigation wouldn’t you have a leg up if you could start with a comprehensive list of sources to go to?  Wouldn’t your job be easier if, when you are ready to conduct an interview, an outline of questions was available to guide you?  Follow the Money provides the investigator with a solid list of clues to track money movements, uncover financial fraud, and to help locate the assets to restore to your client, the rightful owner.  Virtually every type of financial fraud method is exposed in this book.  Then, Nissman helps you through the corporate maze.  Every rule on the conduct of corporations, compliance programs, and internal investigations are discussed.  How does the Department of Justice view compliance programs?  Under what circumstances will a corporation be indicted?  What information can you bring to the Government that may convince the Government not to charge your clients?  Follow the Money includes treatments of the new corporate fraud statutes, securities fraud, corporate book keeping practices, and a full discussion of indictment policy as well as corporate compliance programs.

As we all know, identity theft is becoming a major problem for our clients.  Follow the Money walks the investigator through all the issues and schemes fraudsters are using to steal identities.  Statutory remedies are unveiled and a step by step investigative game plan is revealed to trace and end these crimes.

Equally helpful to the private investigator is a comprehensive discussion of defenses to fraud and other charges a private client might face.

This is a remarkable book, rich in substance and very well written.  A better book has not been written for investigators.  It will be difficult to explain to an attorney or a private client why you didn’t consult this book when you began your investigation.

I had great success working with Mr. Nissman and you will have great success using his methods.  And the outcome to the Astarte Davis Rice case? She received a fifteen year sentence in the federal penitentiary – and after a failure to appear, an escape, a recapture and 2 national television shows – she is still in jail today.  ~Dennis Sheraw, review published in The Legal Investigator.

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ATMs to Sarbanes-Oxley

It is the rare legal practitioner who will not at some point be called on to structure an effective financial investigation, whether in the criminal, civil or administrative arenas.  The work of virtually every agent, detective and private investigator will include (if not center on) a financial component on a recurring basis.

No such investigation should be commenced without first consulting David Marshall Nissman's latest book, ''Follow the Money: A Guide to Financial and Money Laundering Investigations.'' Creatively written in a scholarly yet eminently practical style, ''Follow the Money'' is chock-full of advice, ideas and resources for every conceivable type of financial investigation — whether in the context of fraud, identity theft, money laundering, asset forfeiture, tax, banking or regulatory offenses, ''hawalas'' or alternate remittance systems, smuggling, or simply asset tracing.

For example, chapter 1 alone addresses legal and investigative issues concerning geographical targeting orders, online banks, digitizing records, computer records and the rules of evidence, the banking system, the bank regulatory system, check processing, offshore financial centers, international business companies, automated teller machines, e-commerce, encryption and electronic money, Internet electronic communication, web sites, smart cards, phishing, prepaid value cards, The Bank Secrecy Act, the access device statute, The Right to Financial Privacy Act, identity theft, financial interviews of informants, investigating accounting frauds, investigative methods used in tax cases, audit privilege and immunity, model subpoena language for financial institution records, corporate records, credit card company records, telephone company records and securities firm records. The book is composed of 16 chapters.

''Follow the Money'' is designed to help legal and investigative professionals conduct financial investigations and then persuasively present the results in a courtroom.  Nissman has tackled an enormously complex subject and presented it in a pragmatic, easily understood format, which is clearly and logically organized.  The reader is assisted with both basic and sophisticated investigative techniques, and cautioned to avoid potential pitfalls that could later cause legal nightmares.

Complicated legal concepts are plainly explained.  The effects of recent legislation such as the USA Patriot Act and Sarbanes-Oxley Act, and the emerging field of corporate compliance programs, are all examined.  The full gamut of financial crime schemes is addressed in a manner enabling the reader to quickly recognize their elements.

In addition, the book scrutinizes the complex nature of techniques used for money laundering sting investigations, new reporting requirements, bulk cash transfers, alternative remittance systems, and using wire transfers to advance fraud.

While of obvious value to prosecutors and agents, the book is equally valuable to the criminal defense bar.  Moreover, it is indispensable to any attorney providing representation to an individual or organizational client whose interests are furthered by a properly conducted financial investigation. ~Peter G. Baroni, Chicago Daily law Bulletin 2006

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“Follow the Money is clearly and logically organized and presents a variety of difficult and complicated issues in a clear and comprehensive form. This book has been very valuable to me in the context of my civil practice. This book belongs in every law library.”   ~Francis J.  D’Eramo, Civil Practitioner

A banker’s concerns have changed dramatically over the years.  In the legendary days of John Dillinger and Pretty Boy Floyd, a banker’s biggest worry was that the Bad Guys would come and take money out of his bank.  Now, a banker must worry about Bad Guys depositing money into his bank but he has a new tool to help him through the hurdles in David Marshall Nissman’s book, Follow the Money: A Guide to Financial & Money Laundering Investigations.

A thicket of Federal laws, some new, some more rigorously enforced than ever before, impose upon today’s banker an ever-increasing obligation to monitor customer accounts for signs of illegal activity.  The consequences to a bank of failing to do so, fines and other civil and criminal penalties, have resulted in a dramatic increase in the level of resources devoted to this sort of monitoring.  And Banks are becoming more and more proactive.  I have represented several Banks throughout the twenty years of my practice.  In the first ten years, I recall being consulted once by a bank client about closing a customer account, a joint account held by a divorcing couple whose contradictory demands had taken the bank manager to his wits’ end.  In the last ten years I have been consulted on numerous occasions by banks concerned about sudden changes in or increased levels of activity in customer accounts.  One example was of a small retail story that reconstituted itself overnight as an unlicensed check cashing service.  In many instances the banks have elected to close accounts even if there is no conclusive proof of illegal activity. 

In addition to monitoring issues, I am more and more frequently consulted by bank clients who receive subpoenas issued in the course of Federal investigations into money laundering and related financial crimes.  I am also frequently consulted about reporting obligations imposed by Federal la

Since these sorts of issues occupy a larger and larger portion of my practice, I welcomed my copy of Follow the Money: A Guide to Financial & Money Laundering Investigations, by David Marshall Nissman.  David Nissman is a former United States Attorney for the United States Virgin Islands, and is the author of several books on investigating and prosecuting Federal Crimes. 

Follow the Money is clearly and logically organized, and presents a variety of difficult and complicated issues in a clear and comprehensible form.  Follow the Money is especially valuable to me as a close look at the Big Picture, the sorts of things that criminals do with their money that can cause problems for the banks that I represent.  I have already consulted it on several occasions in response to client inquiries.  Barring a highly unexpected career change, I will not be prosecuting any financial crimes, but the book has been very valuable to me in the context of my civil practice, as was David Nissman’s prior work, Proving Federal Crimes.  Even in the age of computerized legal research, this book belongs in every law library.

~Francis J.  D’Eramo, Civil Practitioner

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In a changed world where federal cases increasingly have international financial ties not only in the area of terrorism but in drug trafficking and corruption as well, Follow the Money by David Marshall Nissman is a valuable litigator’s tool.  Nissman’s foreword gives an indication of the need for changing the way we investigate and prosecute major crimes. ~Denise Hinds, Assistant U.S. Attorney.

“As the world in which we live changes, so do the patterns of criminal activities.  International boundaries are crossed.  Currency is moved.  Financial records and related documentation contain keys to solving complex criminal violations. Follow The Money teaches attorneys and investigators how to unearth financial crimes, track and seize the money and build successful cases to take to court.”

Recent experience has shown me that to keep abreast of the many changes in our world, we need to remodel and retool law enforcement to meet the challenges.  One area in particular where the legal profession must refine its efforts is that of resolving financial crimes. International and domestic criminals have become more resourceful and creative in their use of financial transactions.  Follow the Money is designed to identify and reveal schemes, ideas and activities of the criminals who derive livelihood from these illicit financial actions.

In fact, in the past five years, the necessity to trace and track financial transactions, identify and pursue violators and potential perpetrators through bank accounts and bank records and to obtain and analyze financial documentation has never been greater. International criminals, terrorist and domestic violators all rely on financial transactions, of one type or another, to support their deceptive and illegal behavioral activities.  Follow the Money is a book that identifies and discusses the numerous devious and illicit practices of those individuals and groups intent on illegally moving money, hiding financial transactions and creating fraudulent and diversionary financial activities.

Follow the Money is a publication, which meets the needs of both the investigator and the prosecutor working together to resolve complex financial crimes and detect patterns of financial irregularities.  There may not exist another book of this type that has been prepared to provide the assistance to its users this book provides.  Illegal financial practices are spelled out in detail, using simple, easily understood terms.

The book contents of Follow the Money are not the only appeal and attraction of this one-of- its-kind title. The way in which David Nissman clearly, logically and pragmatically organizes and sets forth the contents are yet other distinguished features.  The masterful manner in which Nissman displays the very complex subject matter makes it easily understood and user friendly. When confronted with questions relating to financial criminal activity, answers can be found in Nisssman’s book Follow the Money.

The user of this book is assisted with and presented basic and sophisticated techniques in the investigations of financial crime issues.  Follow the Money allows the entire trial team to be on the same page in the investigation and prosecution of domestic and/or far-reaching international financial crimes.

David Nissman’s book is easy-to-understand and has a broad appeal to all readers.  No legal professional, law enforcement official or law library should be without Follow The Money.  ~Denise Hinds is the Deputy Criminal Chief, Criminal Division, Office of the United States Attorney, District of the Virgin Islands.  She is a graduate of Duquesne University School of Law, Pittsburgh, Pa. and is licensed in Georgia and Pennsylvania.

 

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