Aircraft owner trusts in the U.S. got a black eye on Feb. 24, 2021, when the U.S. Attorney in the Eastern District of Texas announced that a grand jury returned an indictment against two well-known participants (defendants) in business aviation for criminal activity involving Aircraft Guaranty Corp. and Wright Brothers Aircraft Title. Although one of the defendants owns these companies, both defendants allegedly used the owner trust and escrow services to perpetuate criminal enterprise since 2016 involving illicit aircraft transactions valued at approximately $350 million.
The Indictment
David G. Mayer is a member of the global Aviation Practice Group at Shackelford, McKinley & Norton in Dallas, which handles private aircraft matters, including regulatory compliance, tax planning, purchases, sales, leasing and financing, risk management, insurance, aircraft management and operations, hangar leasing, and related corporate work. Mayer frequently represents corporations and high- and ultra-high-net worth individuals and other aircraft owners, flight departments, lessees, borrowers, operators, sellers, purchasers, corporations and managers, as well as lessors and lenders. He can be contacted at [email protected].
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