Category: Hidden Assets

Archive of topics on hidden assets, especially those in family law court cases from the experts in finding them, The NGH Group.

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Crazy Money Podcast Features Nick Himonidis

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The podcast Crazy Money with Paul Ollinger recently featured NGH Group CEO Nick Himonidis in the episode “Finding Hidden Assets in Divorce Discovery with Nick Himonidis.”

With the experience of finding tens of millions of dollars in undisclosed assets, Mr. Himonidis offers insights into:

  • How he and his colleagues go about their work
  • Why you’ll probably get caught if you try to hide assets in a divorce proceeding
  • How to hire and work with a professional investigator while searching for assets

Mr. Himonidis also discusses the importance of vetting prospective investigators to ensure they operate within legal guidelines and with a high degree of professional ethics.

Whether the hidden assets are foreign bank accounts, cash equivalents in a safe deposit box, undisclosed real estate, or hundreds of thousands in cryptocurrency, learn how professionals find these assets by listening to this episode of the Crazy Money with Paul Ollinger podcast.

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NYT Taps Nick Himonidis for Cryptocurrency Expertise

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When the New York Times needed an expert for an article on divorcing spouses hiding assets using cryptocurrency, they contacted NGH Group CEO Nicholas G. Himonidis. The attorney and cryptocurrency forensics expert shared several instances of finding crypto assets hidden by divorcing spouses.

  • A forensic search of one laptop found $700,000 in the privacy coin Monero in a hot wallet. When asked about it, the spouse feigned surprise at the wallet’s existence.
  • When his wife filed for divorce, another man transferred millions of dollars to digital wallets and blockchain-based smart contracts before fleeing the United States.

Read the full article

 

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5 Steps for Uncovering Cryptocurrency Activity

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The exponential growth of cryptocurrency has introduced new complexities when searching for hidden assets. Whether a client is going through a divorce, a business breakup, or another situation that requires financial due diligence or investigation, financial and legal professionals (and their clients) need to watch for any signs that the other party may have cryptocurrency.

Any suspicion of cryptocurrency demands careful exploration, which includes the following steps.

  1. For litigation, subpoena cryptocurrency brokerages and trading platforms in the United States. If the counterparty is dealing in cryptocurrency, chances are high that one of the top 20 brokerages or trading platforms is involved, and many of them will honor a valid subpoena for information.
  1. Search for physical evidence of cryptocurrency activity. When looking for evidence of cryptocurrency activity, conduct an old-fashioned search for tangible items associated with cryptocurrency, such as hardware wallets, Cryptosteel-type physical backups, paper address certificates, and recovery seed phrases.
  1. Mine available financial data for intersections between crypto and fiat currency. Forensic accountants should look for any payments to or from any known cryptocurrency brokerage platform or trading app. Other signs include large, unexplained cash withdrawals, which may have been converted to crypto on the black market or through Bitcoin ATMs (BATMs), or expenditure patterns that suggest a dollar-cost averaging strategy of crypto investment.
  1. Target cryptocurrency in discovery demands. Beyond asking whether the other party has engaged in cryptocurrency transactions, attorneys need to request specific information. For example, discovery demands should include specific identification of any cryptocurrency wallets, as well as the Extended Master Public Key(s) (xPubs), which allow read-only viewing of wallet transactions.
  1. Search the other party’s data and devices. After securing legal access, forensically examine the counterparty’s digital universe for detailed evidence of cryptocurrency wallets, blockchain addresses, active and deleted internet history related to cryptocurrency transactions, and any interaction with brokerages and platforms. (This is often the only effective way to discover peer-to-peer cryptocurrency activity.)

Following the above game plan will help uncover whether a counterparty has engaged in cryptocurrency activity and obtain critical information for valuation. For assistance with any or all of these steps, contact the NGH Group. Founder Nicholas Himonidis is a Certified Computer Forensic Specialist, Certified Fraud Examiner, and Certified Cryptocurrency Forensic Investigator who frequently lectures on crytpocurrency and blockchain investigations.

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NGH educates divorce lawyers on tracking cryptocurrency

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NGH Group President and CEO Nicholas G. Himonidis shared his cryptocurrency expertise  with the Erie County Bar Association on September 14, 2021. His online presentation on how to find and track cryptocurrency in divorce litigation was part of the group’s continuing education program.

Divorcing spouses are increasingly using Bitcoin and other cryptocurrencies to hide assets and to conduct “secret” transactions. In his presentation, Nick educated attorneys on the benefits of digital forensics when accessing the spouse’s electronic devices and examining blockchain transactions.

He also explained the types of “wallets” a spouse may use to hold and hide cryptocurrency, how cryptocurrency exchanges work, what documents are available for attorneys to pursue, and the critical differences between “peer to peer” vs. “exchange based” cryptocurrency activity.

The presentation featured practical tips that attorneys can use in their own practices right away.

To request Mr. Himonidis as a speaker on this or other topics, call (516) 621-6500 or send an email

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Bitcoin, Blockchain & Cryptocurrency CLE Program at St. John’s Law School Fall CLE Weekend

On Saturday November 3, 2018, Nick Himonidis, JD, CFE, CCFS, President of The NGH Group, Inc., along with co-presenter Peter Theobald of TC Forensics, presented a CLE program entitled “Bitcoin, Blockchain & Cryptocurrencies: What attorneys need to know about these revolutionary technologies, and how to uncover their existence and track them in litigation.” The program was part of the St. John’s University School of Law annual “Fall CLE Weekend” which provides two full days of CLE programs for both Seasoned Attorneys and Newly Admitted Attorneys. The Cryptocurrency program included lively discussions and demonstrations of actual Bitcoin transactions being traced on the Blockchain and received excellent reviews. (Nick Himonidis graduated St. John’s University School of Law Magna Cum Laude in 1995).