Reference no: EM131713369

Question: Where's My Lawyer? Mr. Larce Fenning is an estate attorney in Toledo, Ohio. He has represented clients there for over 15 years. One of his clients is Maddy Cole, who is a retired school teacher, has a $3.5 million stock portfolio, and is in poor health. Maddy never married and most of her relatives are dead. Larce encouraged her to write a will. In the will, Maddy left a small inheritance to a distant cousin, who she had not seen in years, with the remainder of her estate going to the World Wildlife Fund and St. Jude's Children Research Hospitals. Larce is the executor of Maddy's estate and has the power of attorney to her accounts. Larce has been married three times, and he is desperate to pay off gambling debts. He wants Maddy's money after she dies. He knows that he has little risk of being caught if he can get her money out of the United States. If he can, he will leave his fourth wife and move to a remote island in the South Pacific. Advise him how to launder the money into the banking system and send it out of the United States. Draw a flow chart of the cash flows as they are laundered through a series of accounts.