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My experience with anonymous corporations (my father's corps)

Discussion in 'BlackHat Lounge' started by sinewave, Feb 6, 2009.

  1. sinewave

    sinewave Senior Member Premium Member

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    I'm posting this here so as not to disrupt the "shit list" threads. Plus, I think it belongs here.

    About 10 year ago my father needed to hide his assets from a vicious ex-wife so he found some guy who would provide to him what is known as a "shares in hand" C corp in Nevada. It was a messy situation and he was a messy sort, so 'nuff said about that.

    I've learned a few things about that business since he died last June and my sister and I have been decommissioning the corp.

    It didn't matter where he lived because his agent would provide 1) registered agency in the state of Nevada in order for his corp to remain in good standing, 2) a designated C-level officer and board of directors, and 3) clerical services for errands such as depositing checks and forwarding bank statements, ATM cards and credit cards. These were CLERICAL services, NOT forcible control of the account.

    The only circumstances under which the agent could sign for the bank account or do anything with the funds therein would require presentation of death certificates for each of the designated signatories -- in this case my father, my sister and myself.

    All communication to this corp went to my father and/or his team, NOT his agent. There was nothing to hide in terms of corporate communication, yet the corp ownership remained anonymous.

    I was enthusiastic about UptownBulker's service because I know how well an anonymous corporation worked for my father in carrying out his business in the last 10 years of his life. It gave him a great deal of pleasure and peace. He loved his business and came up with what I felt to be a good solution to carrying on despite some messy personal circumstances. However, he (or we) were never not in full control of his accounts, apart from the simple clerical services he retained with his agent in Nevada.

    When others asked "why would anyone need an anonymous corp", I chimed in with my support. There can be good reasons for it, as I've learned from my father's experience and solution.

    As for UptownBulker's other product, the "Gas Crisis" plan, I still think it's a brilliant idea and arouses many other ideas for being a local middleman for potential buyers and sellers. And I still think that the ideas for negotiation are evergreen for profiting in so many other circumstances.

    All that said, I was not aware that control of the bank account was part of the "Anonymous Corporation" deal under discussion. Those TOS were not disclosed in the sales letter. I assumed it would be something akin to my experience with my father's anonymous corps.

    I have my own corps in Delaware, but it's not at all anonymous.

    Given what I've witnessed in the past few days, including communications and significant evidence from Anonymous Corporation clients, I regret my endorsement of the "Anonymous Corporation" services and sincerely hope that reparations are made.

    The status of Exec VIP does in no way confer the right to abuse or take advantage of anyone here. Nor does it elevate one to a level above scrutiny. Especially when it comes to business and parting with significant sums of money.

    All of us are accountable for our actions to everyone here, from Exec VIP up to the latest newcomer whom we have the pleasure to welcome.

    Yeah, I'm disappointed. I might have made a mistake in judgment, but I hope I'm wrong and reparations are made.
     
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    Last edited: Feb 6, 2009
  2. gindama

    gindama Newbie

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    Sinewave,

    I don't hold it against you that you previously endorsed his service. This was nobody's fault but Uptown's and my own (and the other victims) for trusting him. I don't blame anyone else.

    However, I do thank you for your thoughtful post.
     
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  3. valwardon

    valwardon BANNED BANNED

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    Ahh Sine . You are always so great with words and essential sum up everything . whenever someone doubts the standards and stature of executive vips I shall always point to you . You are a true inspiration a muse if you will .

    Sine I feel through your words as if you feel that you feel partial responsible for this fiasco ? I may be wrong . Sine as far as that goes there is no reason for you to regret any decision you have made you did what you thought was best at the time .

    Sine you are one of a kind . Stay blue .
     
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  4. dangregory

    dangregory Registered Member

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    Thank you for sharing your experiences. I wasn't familiar with the company that you talk about - sorry it didn't go down well.

    But you raise some excellent points about the usefulness of anonymous corporations. I need to do much more research in this area myself. I've been considering everything from offshore to Nevada to Delaware, etc. Haven't yet decided on a solution. This is to protect family assets because one family member is in a service occupation where lawsuits are common, and it's important to protect the family home and core assets so that even if a lawsuit happens they can't seize the home and core monies. This is complicated stuff and there is so much bad info out there. Right now we've been looking at Mark Nessman and the sovereign society guys - they seem to have a lot of good info.

    Dan
     
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  5. jammie

    jammie Power Member

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    Sine,

    i know you think i'm abit of a dick, but i'd like to thank you for that post. Everyone should have your level of wisdom and unbias.

    People should, and do, look up to you.

    Thanks for making BHW a great place.
     
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  6. sinewave

    sinewave Senior Member Premium Member

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    Thanks for your kind words gentlemen.

    I mostly wanted to share my experience and that anonymous corporations are not necessarily the provence of criminals, that agency control of the bank accounts is unusual at best (non-existent in my experience), and that good & responsive customer service should be expected as the norm--whether here or elsewhere. Good business is just that: good business.

    I'm optimistic that a good and equitable outcome for everyone involved will be forthcoming.

    We've had very few occurrences of actual wrong-doing here, especially as compared to other so-called more "ethical" forums. This is of course owing to the diligent staff as well as the willingness of members to speak up when something appears untoward, even if they suspected it might feel like pissing into the wind.

    Again, I'm optimistic that any issues will be resolved to the satisfaction of everyone involved, and in the professional manner to which we've come to expect around here.

    Jammie, I've thought a lot of things -- not all of them entirely accurate.
     
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  7. Money2spare

    Money2spare BANNED BANNED

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    It is posts like these that give me renewed faith in the hierarchy system!
     
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  8. sinewave

    sinewave Senior Member Premium Member

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    Yeah, I like the Sovereign Society site as well.

    Some great ideas there, although most of his solutions require that one has no family or children to consider. No, I'm not closed-minded if I don't want to uproot my kids and move to China in the interest of "financial freedom".

    However, when the kids are ready to fly out of the nest, I'll be making plans for my getaway :)

    Thanks for bringing it up!
     
  9. virtualv

    virtualv Junior Member

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    An eloquently worded reminder that Executive VIP's are still to be looked up to and respected.
     
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  10. sinewave

    sinewave Senior Member Premium Member

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    ... after an especially unpleasant reminder that none of us are above scrutiny.
     
  11. 10kay

    10kay Registered Member

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    something comforting about your post sin, thankyou.
    if ok with you, can you pm your source in nevada?
     
  12. sinewave

    sinewave Senior Member Premium Member

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    Sure 10kay. I have a few so let me find the one I think is best, according to my experience. I also noted that there were some recommendations in the original Shit List too, so don't hesitate to look into those.

    In any case, I'll be in touch with the vendors I've been dealing with to decommission my father's businesses.
     
  13. berrycorp

    berrycorp Guest

    i had pm'd u too.... i really need a recommendation too... please really would help me out!
     
  14. CSalt2

    CSalt2 Power Member

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    Whatever happened with the uptown issue? was it resolved? just curious as I'm still hestitant about trusting his service..