Wealthy Parents Trying To Hide Their Money Get Ousted By Their Rich Kids of Instagram
Apr 05, 2016 12:02
Rich kids may be the envy on Instagram, but they're doing their parents more harm, and may not be featured anymore on social media. Cybersecurity and law firms are now drawing up to 75% of their evidence in litigation cases using pictures from Twitter and Instagram.
During investigations of asset disputes of the extremely wealthy, lawyers will search for evidence on their kid’s Instagram posts, according to Oisín Fouere, managing director of K2 Intelligence via The Guardian.
In one divorce case, a millionaire claimed not to have the $30 million he was ordered to pay. Lawyers used Instagram to find the evidence. According to Andrew Beckett, a managing director of cybersecurity and investigations firm Kroll:
“We monitored social media, particularly for his children, who were in their 20s, and found a lot of posts from the same geo-tagged sites. Cross-referencing that with land registry and other similar bodies overseas, we found half a dozen properties that were registered in the name of this person.
“We were able to go to the court with a list of assets that we conservatively estimated at $60m, which the court then seized until he settled the amount that had been ordered.”
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