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GLOBAL PIRATES
sant advising him to redomicle one of his reinsurance companies in Belgium because of changes in the law in the Turks and Caicos islands. Finally, inquiries into Teale’s activities revealed the existence of networks of financial criminals who operate globally, who form temporary alliances with other criminals, and incorporate different forms of white-collar crime into their schemes. Investigators from Senator Nunn’s committee stated: We have merely exposed the tip of an iceberg of international white collar criminal syndicates. We found also that the individuals involved in these insurance scams were equally willing and able to work other fraudulent activities involving advance fee schemes, stolen counterfeit securities, tax evasion, and money laundering. In sum, insurance fraud may also be just the tip of the criminal iceberg, too.137 As we shall see in later chapters, what they had found really was the tip of the iceberg as insurance frauds have, since those words were spoken, become part of much larger schemes that involve investment scams, bank frauds, and the activities of organized crime groups.