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Topic: Shell corporations

	Use of United States-Based Shell Corporations and Foreign Shell Banks by Eastern Europeans to Move Money
		Shell corporations are described as companies with no independent assets or operations of their own, which are used by their owners to conduct business dealings or maintain control of other companies.
		A shell corporation is registered or licensed in the state or country in which it is incorporated or established, is not traded on a securities exchange, and does not operate on its own.
		If a shell corporation is established in a jurisdiction with strict secrecy laws, it can be almost impossible to identify the owners or directors of the corporation and therefore nearly impossible to trace illicit funds back to their true owner.
	www.bankersonline.com /security/sar/shellcorps.html (1349 words)

	Alternative Venture Finance: Shell Corporations - Growthink, Inc.
		A shell corporation is a company that is incorporated but has no significant assets or operations.
		A second type of shell corporation is formed when the company seeking capital identifies an existing shell or inactive public company (IPC) as a candidate for a reverse acquisition.
		Shell corporations are a quick and cost effective way of taking a company public and raising public capital.
	www.growthink.com /businessplan/Alternative_Venture_Finance_Shell_Corporations.html (321 words)

	GAO-06-376, Company Formations: Minimal Ownership Information Is Collected and Available
		Corporate veil: The legal doctrine of separating the acts of a corporation from the acts of its shareholders, which prevents the shareholders from being held personally liable for the acts of the corporation.
		Piercing the corporate veil: An equitable doctrine where the separate existence of a corporation is disregarded by the law and the shareholders are held responsible for the acts and obligations of the corporation.
		Piercing the corporate veil is justified only in extraordinary circumstances where a court finds that a unity of interest and ownership between an individual and a corporation exists to such an extent that recognizing a separate existence between the two would result in an injustice.
	www.gao.gov /htext/d06376.html (18019 words)

	GoingPublicNow.Com \| Types of Shells in the Market
		The perception is that these shell corporations can be used to circumvent the S.E.C reporting requirements and enable the new owners to immediately begin offering and trading their stock on the open market.
		A second source of shell companies are public companies developed specifically as a vehicle to be used to accomplish a reverse merger.
		Shells developed for reverse mergers are registered and reviewed by the SEC prior to their being made available as reverse merger vehicles.
	www.goingpublicnow.com /shelltypes.html (352 words)

	Globalization & Human Rights:Transcript:The Power of Corporations
		GAY MCDOUGALL: The emergence of extremely powerful multi-national corporations have a great impact on the quality of life and ultimately the rights of people in a country or territory-- the practices that these oil companies have in terms of the natural resources--air, land and water.
		Shell Oil is one of the largest corporations in the world.
		JOHN CAVANAGH: In many parts of the world, large corporations are operating in countries where basic fundamental human rights and worker rights are undermined, are not enforced, are violated.
	www.globalvision.org /program/globalization/corporations.html (1515 words)

	Nevada Corporations Basics: Nevada Corporate Shells and Shelf Corporations
		An aged shell corporation is often referred to as a “shelf” corporation, implying that nothing has been done with it; it has been formed and “put on the shelf”.
		The purchase of an already-formed corporate shell is the fastest, simplest and most efficient method by which you can incorporate, become incorporated, or, literally, instantaneously have an already-formed corporation for immediate use.
		Budget Corporate Renewals and many other resident agents in the State of Nevada are in the practice of forming new corporation shells on a nearly continual basis.
	www.budgetcorporaterenewals.com /html/shell_corporations.html (1217 words)

	Senators See Dangers in Shell Corporations, LLCs \| Banker?s IdeaNet
		Shell corporations and limited liability corporations have recently come under intense scrutiny because of their usefulness in money laundering and other criminal activity.
		Shell corporations are chartered under laws specifically designed to provide a heightened form of privacy and anonymity to the persons who control the corporations.
		Because shell corporations enable the true owners of a business to disguise their identities, they may be a hazard to national security, two senior senators believe.
	www.sheshunoff.com /ideanet/index.php?itemid=258&catid=2 (1370 words)

	Global Communications Network for Justice (Site not responding. Last check: 2007-11-07)
		Although Shell works in partnership with the Nigerian National Petroleum Corporation, it is Shell that makes most of the day-to-day decisions.” Therefore, when the Ogoni people of the River Delta organized in 1990 to protest the environmental and health damages suffered by their people, the people’s movement focused on the role of Shell Oil.
		Shell was forced to quit the Ogoni region in 1993 due to the citizen unrest, and subsequently issued a press release calling the movement a secessionist group and its leader an instigator.
		Shell has attempted to cover up these misdeeds by putting out advertisements bearing the line “Cloud the issue—or clear the air” and claiming to be committed to reducing emissions while in fact Shell’s greenhouse emissions rose by 2 percent in 2001.
	www.globalnetwork4justice.org /story.php?c_id=73 (2547 words)

	Software Council of Southern California
		Regardless of the type of shell, typically, the first step in going public with a shell is a "reverse merger" of your company into the shell corporation: your company is acquired by the shell corporation, which issues newly issued shares to the stockholders of your company, in exchange for your company's stock.
		The shell corporation is the surviving corporation in the merger, and you and your shareholders end up owning 80-90% of the outstanding shares of the shell after the merger.
		Using a variety of schemes and artifices, it is not uncommon for shell promoters or their affiliates to cause the trading price of your company's stock to rise dramatically after the announcement of your merger with the shell.
	www.scsc.org /resources/shellgame.html (1035 words)

	shelf corporation
		Shelf Corporation Purpose #4: There are promoters of shelf corporations that advocate the use of aged shelf corporation for the repair of credit, or an alternative form of credit for those who are credit challenged.
		A shelf corporation differs from a shell corporation; in that, a shell corporation engages in no active business and exists, usually, as a means for another corporation to do business.
		Since someone in the future will buy these corporations, we won't run the risk that the client may be faced with the question: "Was your company a shelf corporation?" We don't know of an instance when this has happened to anyone.
	www.shelfcorporation.us /listshelfcorporation.htm (398 words)

	Shell companies hamper law enforcement - Boston.com
		Federal law enforcement efforts have been hampered by the absence of information on company ownership, allowing shell companies to be used to launder money and evade taxes, government officials told Congress Tuesday.
		Shell companies in the United States are used to launder as much as $36 billion from former Soviet republics.
		"Shell corporations provide an opportunity for criminals or terrorists to engage in criminal activity while concealing the identities of the persons involved in the illegal activity," Stuart Nash, an associate deputy attorney general at the Justice Department, said in testimony at a hearing of the Senate Homeland Security and Governmental Affairs' investigative panel.
	www.boston.com /news/world/europe/articles/2006/11/14/shell_companies_hamper_law_enforcement (533 words)

	How Shells and Reverse Mergers Work (Site not responding. Last check: 2007-11-07)
		They qualify as widely held public corporations because they have a bona fide shareholder pool of over 300 individuals and a public float of over 500,000 shares.
		As you can see, the work required to fully utilize either type of shell corporation is essentially the same.
		Southward Investments L.L.C. has no fiduciary or management connection with any of their shell clients once the sale and transfer of the shell corporation is complete.
	www.swi-investments.com /howshellswork.htm (462 words)

	Untitled Document
		From at least 1994, it is alleged that members of the conspiracy engaged in the business of manufacturing fraudulent public shell corporations and causing their securities to be sold in public markets.
		A significant part of the scheme was to conceal from potential investors and regulatory authorities the fact that the officers, directors, and shareholders were nominees, and that the corporations and all of the shares of stock were secretly controlled by the defendants and co-conspirators.
		FARRELL admitted that he fully knew the nature of the “boxed” shell corporations, and that he was compensated for his role in the scheme in part by receiving stock in many of a co-conspirator’s fraudulent companies.
	www.usdoj.gov /usao/nv/home/pressrelease/january2006/farrell011706.htm (654 words)

	Shell (corporation) - Wikipedia, the free encyclopedia
		A shell corporation is defined in Barron's Finance and Investment Handbook as "a company that is incorporated but has no significant assets or operations.
		The firm does its international operations through this shell corporation, thus not having to report to its country the sums involved, avoiding any taxes.
		Tax avoidance, taking advantage of the existence of 250 free zones and tax havens, 95% of which are former British, French, Spanish, Dutch or U.S. colonies or concessions that remain dependent on the former colonial powers.
	en.wikipedia.org /wiki/Shell_company (270 words)

	International Campaigns: Nigeria - Human Rights - Sierra Club
		Shell's legacy of contamination in Ogoniland and other areas in Nigeria dates back to the start of its operations in the country in 1958.
		Shell officials were documented to "request that you (MPF) urgently provided us with security protection." The "urgent" request resulted in the shooting deaths of eighty protesters and the destruction of nearly 500 homes.
		The time has come to move the Nigerian government and those corporations that collude with it and back it financially and militarily, like Shell, to cease and desist their human rights abuses, complicity in murder and continued plunder of the environment.
	www.sierraclub.org /human-rights/nigeria/background/dorsey.asp (1035 words)

	Ghost in the Shell Corporations
		In all, they are one of the largest corporations worldwide, with fingers in almost every facet of the modern world.
		Sagawa Electronics was once a midsize corporation who manufactured a variety of electronic goods: optics, cyberware, toasters etc. until the Public Security Bureau stepped in during the war.
		Tadokoro Trading: A smaller corporation with a Chairman with a fetish for companion androids, Tadokoro was struck by the a super theft ring known as Cash Eye.
	www.serenadawn.com /GITS-Corporations.htm (1917 words)

	TellShell - Topic view (Site not responding. Last check: 2007-11-07)
		On the other hand, I won't also say that it was Shell's desire to see such happen to one of its host communities but they gain the advertage of eliminating those that were like a stombling block to their operation in that area.
		Shell researchers showed as long ago as 1960 that common components of drilling fluids can solubilise the barium, creating a hazardous waste.
		Despite having developed an ecological drilling fluid technology to replace barium, and professing a desire to reduce the environmental impact of its operations, Shell is still a major user of barium in its drilling operations worldwide.
	www.shell.com /home/royal-en/html/iwgen/tellshell/nov_2004_archive/ts_th_fm=32_th=65_st=110_msR=10.html (1168 words)

	Why use a Reverse Merger for raising capital instead of a IPO? (Site not responding. Last check: 2007-11-07)
		A public corporation can undertake a fully registered "follow-on" or "secondary" offering, of any size, at any time, by filing the appropriate documents with the SEC and securing the services of a couple of market makers / brokers.
		Using a shell corporation and a reverse merger strategy puts the control of the entire process into your hands.
		Acquiring a shell corporation, completing the merger and 504 or 505 offering documents can be done for less than $60K.
	www.swi-investments.com (358 words)

	CorpWatch : Search (Site not responding. Last check: 2007-11-07)
		The oil giant Shell is failing to protect communities near its installations in...
		Shell, the Anglo-Dutch oil company, is planning to survey the world's biggest...
		Shell was accused of presiding over continuing safety problems on a key North...
	www.corpwatch.org /search.php?q=Shell&offset=150 (552 words)

	Stag Financial Group, Inc. -- Public Shells and Reverse-Mergers
		There are many types of public shell companies available, and many pitfalls that need to be avoided, but properly utilized public shell companies can save private businesses considering "going public" hundreds of thousands of dollars in costs and months, if not years, of strategizing when compared to the typical Initial Public Offering (IPO).
		There are numerous other benefits to using, or "reverse merging" into, a public shell company, including gaining quick access to public capital markets.
		Below is a summary of typical public shell vehicles and their usual cost ranges (Note: all cost estimates assume the public shell has no assets and no liabilities.
	www.stagfinancialgroup.com /shells.htm (1075 words)

	Reverse mergers, going public, public shells, IPO
		After the reverse merger the private company would retain most of the public shell shares and would be trading under the name of the private company prior to the merger.
		The board members of the trading shell company would resign and the private company would appoint their own board of directors.
		When doing a reverse merger with a public shell it can be very expensive and there are several things you must be aware of.
	www.tcc5.com /reverse_mergers_y.htm (536 words)

	Nevada Corporations Information: Basics, Why Nevada Corporation, Strategy, Library
		Nevada corporations are far more notorious than they are understood, so we have put together an extensive array of information to help you gain sufficient knowledge to feel comfortable implementing a Nevada corporation strategy.
		From the basics of what a shell corporation is through the many advantages of operating from the corporate haven of Nevada to specific strategies that many people outside of Nevada are using every day to save taxes and protect assets, you’ll find the information you need in this section of our site.
		Highly interesting information for both novice and veteran Nevada corporation operators is spotlighted in the Nevada Corporation Operating Tips.
	www.budgetcorporaterenewals.com /html/information.html (727 words)

	Boycott Shell
		To say that Shell "has considerable influence" in Nigeria is an understatement.
		When Willbros, a contractor for Shell, begins laying a pipeline in Ogoniland, 10 peaceful demonstrators are shot by a military escort paid by Shell.
		Since Shell does not permit outside review of its environmental practices and the Nigerian military controls the area, it's difficult to know how much oil spillage or gas flaring continues in Ogoniland, or whether Shell has made any attempt to clean up earlier spill sites.
	www.ags.uci.edu /~satij/onagi.htm (1100 words)

	DesMoinesRegister.com \| Opinion
		A loophole in state law allows multistate companies doing business in Iowa to transfer profits to shell corporations in certain other states and avoid paying corporate taxes here.
		Local businesses are unfairly disadvantaged because larger corporations are better able to slip through the loophole.
		Corporate taxation simply isn't a dazzling issue to the average Iowan.
	desmoinesregister.com /opinion/stories/c2125555/23584409.html (415 words)

	*** The Emmons Report: Investigative Summary
		In 1972 a shell corporation was designed and enacted whereby L. Ron Hubbard would receive massive funds from the Church of Scientology accounts for foreign students coming to Clearwater, Florida to further their Scientology studies.
		The shell corporations were made quite prosperous by these payments "up the lines" for services never rendered.
		They would pay in advance at their local Scientology orgs for the trip to Flag and these monies would go into the shell corporations accounts while the services were delivered by the Church of Scientology members and staff.
	www.lermanet.com /emmons/emmonssummary.htm (4872 words)

	Newsvine - Shell Companies Hamper Law Enforcement (Site not responding. Last check: 2007-11-07)
		WASHINGTON — Federal law enforcement efforts have been hampered by the absence of information on company ownership, allowing shell companies to be used to launder money and evade taxes, government officials told Congress Tuesday.
		U.S. states grant incorporation to nearly 2 million new companies a year without identifying their owners — lenience that allows people to hide their identities and shell companies increasingly to be used for illicit activities, lawmakers and congressional investigators say.
		If corporations have "selfhood" and can create "shell companies" whose owners can't be identified to avoid paying taxes, why can't people create "shell people" whose real identities can't be identified to do the same thing?
	www.newsvine.com /_news/2006/11/14/441978-shell-companies-hamper-law-enforcement (582 words)

	Types of companies used for reverse mergers (Site not responding. Last check: 2007-11-07)
		A "Virgin Corporation" can be used to achieve everything that can be done with a "trading and reporting" coproration, and more, at a fraction of the cost, and without a need to be concerned about hidden problems.
		Acquiring one of these "shell" corporations is done under the assumption that a merger will provide the active company with immediate access to the market.
		The term "Blank-Check" refers to a corporation that was formed with no substantiated business purpose except to secure a "suitable" merger candidate.
	www.xpressmarketing.biz /MicroCap/FAQ2.htm (606 words)

	[No title]
		U.S. states grant incorporation to nearly 2 million new companies a year without identifying their owners _ lenience that allows people to hide their identities and shell companies increasingly to be used for illicit activities, lawmakers and congressional investigators say.
		_The Justice Department said Russian officials used shell companies incorporated in Pennsylvania and Delaware to illegally divert $15 million in international aid intended for improving the safety of nuclear power plants in the former Soviet Union.
		_The FBI found that U.S. shell companies are being used to launder as much as $36 billion coming from the former Soviet Union.
	www.mymotherlode.com /News/article/id/D8LD6DEO1 (500 words)

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