Strategic Research Sponsor of the American Bar Association's Section of International Law
Michele Caratsch
Office:
Zeltweg 44
8032
City:
Zurich
State:
Zurich
Country:
Switzerland
Tel:
+41 44 250 2525
Fax:
+41 44 2502500

Questions and Answers:

Who's Who Legal Thought Leaders: Asset Recovery

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University. He is admitted to the Zurich Bar and to the New York Bar and has extensive experience in the field of transnational civil and fraud litigation, leading specialist teams of lawyers, forensic accountants and investigators. Michele is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation.

DESCRIBE YOUR CAREER TO DATE.

Since the start of my career, I have always assisted clients in transnational settings. My practice focusses on the assistance of victims of fraud, both individuals and corporate entities, and in providing effective assistance in tracing and recovering stolen assets.

WHAT MOTIVATED YOU TO PURSUE A CAREER FOCUSED ON ASSET RECOVERY WORK?

In the earlier part of my career, I acted as corporate counsel for a major client which, through fraud and political pressure in his country of origin, was suddenly unjustly stripped of all of his assets. This prompted a desire to right the wrong suffered, not only for this particular client, but also for other victims of fraud or political corruption, with a view on helping them to recover what had been taken from them.

WHAT CHALLENGES ARE CURRENTLY FACING PRACTITIONERS IN THE FIELD?

Budget cuts, regulatory impediments and failure to cooperate on an international basis often prevent the effective assistance of the victims of fraud by law enforcement. If legal practitioners have to step in, they are faced with the financial problems of the victims to fund a recovery effort, a problem which recently has been overcome with the help of litigation funders.

IN YOUR OPINION, TO WHAT EXTENT ARE TECHNOLOGICAL ADVANCES MAKING IT EASIER FOR CRIMINALS TO HIDE ASSETS?

The speed of movement of money is continuously increasing, making it easier for fraudsters to channel their funds through multiple jurisdictions in no time and making it more difficult for us to follow the flows and obtain control of the funds. The enhanced regulatory environment might help to slow down this process, but skilled fraudsters are aware of this, and tend to avoid highly regulated jurisdictions.

TO WHAT EXTENT CAN CRIMINAL COMPLAINTS ON BEHALF OF VICTIMS OF CRIME BE USED TO ACCESS INFORMATION?

In a civil law jurisdiction such as Switzerland, civil discovery is very limited and the access to information relating to bank accounts restricted. Whenever fraud is involved, by filing a criminal complaint victims might take advantage of the investigative tools of law enforcement and access the information thus collected in support of civil asset recovery proceedings.

HOW DO YOU SEE THE LANDSCAPE OF ASSET RECOVERY DEVELOPING IN THE FUTURE?

My vision is to perfect the impact of dedicated international networks, such as ICC-FraudNet, in order to create multi-jurisdictional, highly skilled legal teams which are able to face the challenges of organised fraudsters by putting them against professionals who are able to fight them effectively by adopting all legal, technological and practical tools available to the profession.

Biographies:

Who's Who Legal Switzerland - Asset Recovery

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University School of Law. He was admitted to the Zurich Bar in 1992 and to the New York Bar in 1995. He is a partner at Baldi & Caratsch.

He has extensive experience in the field of transnational civil and fraud litigation and arbitration, and has been litigating and coordinating transnational asset recovery proceedings before civil, criminal and bankruptcy courts on behalf of victims of economic crimes, leading specialist teams of lawyers, forensic accountants and investigators.

He has represented victims of economic crimes, both companies and individuals, in criminal and civil recovery proceedings, by way of filing criminal complaints and lodging claims for damages. Most recently he has been acting as Swiss co-counsel to Stanford International Bank Ltd (in liquidation), Antigua, in view of recovering the proceeds of what has been qualified as the second largest Ponzi scheme in history.

Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation, operating under the auspices of the International Chamber of Commerce.

His publications include the co-authorship to the Swiss section of Asset Tracing & Recovery: the FraudNet World Compendium (Erich Schmidt Verlag, 2009). He also speaks on a regular basis at international conferences on these topics.

Michele Caratsch speaks fluent German, English and Italian, and has working knowledge of Portuguese and Spanish.

WWL says: The “outstanding” Michele Caratsch is internationally recognised for his world-class practice.

This biography is an extract from Who's Who Legal: Switzerland which can be purchased from our Shop.

Who's Who Legal Asset Recovery: Lawyers

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University School of Law. He was admitted to the Zurich Bar in 1992 and to the New York Bar in 1995. He is a partner at Baldi & Caratsch.

He has extensive experience in the field of transnational civil and fraud litigation and arbitration, and has been litigating and coordinating transnational asset recovery proceedings before civil, criminal and bankruptcy courts on behalf of victims of economic crimes, leading specialist teams of lawyers, forensic accountants and investigators.

He has represented victims of economic crimes, both companies and individuals, in criminal and civil recovery proceedings, by way of filing criminal complaints and lodging claims for damages. Most recently he has been acting as Swiss co-counsel to Stanford International Bank Ltd (in liquidation), Antigua, in view of recovering the proceeds of what has been qualified as the second-largest Ponzi scheme in history.

Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation, operating under the auspices of the International Chamber of Commerce.

His publications include the co-authorship to the Swiss section of Asset Tracing & Recovery: the FraudNet World Compendium (Erich Schmidt Verlag, 2009), and he speaks on a regular basis at international conferences on these topics.

Michele Caratsch speaks fluent German, English and Italian, and has a working knowledge of Portuguese and Spanish.

WWL says: Michele Caratsch draws praise from a variety of international sources. One respondent considers him “the real deal”, while another claims: “He is an excellent lawyer who always knows the facts inside out.”

This biography is an extract from Who's Who Legal: Asset Recovery which can be purchased from our Shop.

Follow us on LinkedIn

Practice Areas

Firms

Browse Firms

Search Firms

The Who's Who Legal 100

Awards

News & Features

Special Reports

Events

Shop

About Us

It is not possible to buy entry into any Who's Who Legal publication

Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.

Copyright © 2017 Law Business Research Ltd. All rights reserved. | http://www.lbresearch.com

87 Lancaster Road, London, W11 1QQ, UK | Tel: +44 20 7908 1180 / Fax: +44 207 229 6910

http://www.whoswholegal.com | editorial@whoswholegal.com

Law Business Research Ltd

87 Lancaster Road, London
W11 1QQ, UK