For billing purposes, let me give you my contact information:
Jim Culbertson
24735 SE 56th St.
Issaquah, WA 980029
I understand your time is valuable and don't know what business will ultimately ensue from this communication so you
may want to bill me for this time in the event that further business justifying your time investment does not come to fruition.
Background:
As I have said, I have recently attended the SS conference in Panama City. There I was most frightened by Mr.
Nestmann. I believe that the US has lost sight of many of its founding principals and is no longer the bastion of freedom it
once was. It seems prudent, therefore, to have some assets in places outside the US and it seems they will only be safe
from the US if the US does not know that they exist.
On a separate but related track, I looked at a number of properties in Panama through the Prima Panama connection. In
fact, it was in discussing this problem with Paul McBride that I was urged to contact you whom Paul holds in the highest
regard. At first I thought I could just buy the properties and the money would be in Panama and problem
solved. Unfortunately it seems it is more complicated than that. If I buy a property I own a Panama
corporation. According to my CPA I'm supposed to report ownership in any foreign corporation to the US
government. This seems to defeat the purpose.
Question:
How does a US citizen legally get funds to Panama without the knowledge of the US government and how can those
funds be profitably invested without the US government knowing about them. Note that avoiding taxes is not the issue but
I don't see how I can keep the government from knowing about the assets if I must report them whether taxes are due or
not.
Thanks in advance for any thoughts you have on this,
Jim Culbertson

From: Mossfon Trust Corporation
Sent: Fri 6/2/2006 3:35 PM
To: INTRANET@tradedirect.biz
Cc: Ramsés Owens - Lawyer
Subject: Sovereign Society Conference
Dear

:

This is a proof message. You can feel comfortable writing to this e-mail address.
Yours truly,
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Please send all your messages to our departmental email account:

4

 From: INTRANET@lradedirect.biz
Sent: Domingo, 04 de Iunio de zone 05:42 pm
To: Mosston Trust Corporation

Subject: Sovereign Socier Conterence/ . mvias

Mr. Owens and Ms. Mikailova:

Thank you fol establishing this secure means ot communication. It is untortunate that privacy is such a ditlicult thing to
come by but in this case I think it well worth the etfort.

For biIIin purposes, let me give you my contact inIormation:

   

un els and your Ime is Valuable and don't know what business will ultimately ensue flom this communication so you
may want to bill me to! this time in the event that tunhel businessjustitying you! time investment does not come to tmition.

Backglound:
As I have said, I have recently attended the 55 oonterenoe in Panama city. There I was most trightened by Mr.

. I believe that the US has lost sight of many ot its tounding principals and is no longel the bastion ot tleedom it
once was. It seems pmdent, thelefole, to have some assets in places outside the US and it seems they will only be sate
trom the US it the US does not know thatthey exist.

On a separate but related track, I looked at a number oI properties in Panama through the _connection, In
tact, it was in discussing this problem with _that I was urged to contact you whom ids in the highest
regard. At first I thought I could just buy the properties and the money would be in Panama and problem

solved. Unfortunately it seems it is more complicated than that. It I buy a propeny I own a Panama

oolpolation. According to my CPA I'm supposed to report ownership in any Ioreign corporation to the us

government. This seems to deleat the purpose.

 

Question:
How does a us citizen IegaIIy get Iunds to Panama without the knowledge oI the us government and how can those
Iunds be profitably invested without the us government knowing about them. Note that avoiding taxes is not the issue but
I don't see how I can keep the government trom knowing about the assets it I must repon them whether taxes are due or
not,

Thanks in advance tor any thoughts you have on this,

From: Mossfon Trust Corporation
Sent: Mon 6/5/2006 10:11 AM
To: INTRANET@tradedirect.biz
Cc: Betsy Degracia - Mossfon Trust; Daisy Chacón - Mossfon Trust
Subject: Sovereign Society Conference - 1

Dear Mr.

:

Thanks for your contact information for billing purposes. If for any reason you purchase a company
or a Trust structure, the invoice would be issued under such company or trust structure, in order to
avoid mentioning your address.
In the event that further business justifying our time invested does not come to fruition, then we would
be charging US$100.00 / hour.
Our comments are as follows:
a. You are absolutely right as to the fact that it seems prudent to have some assets in places
outside the US. However, we should be careful to take money and assets out of the US, as
the US IRS have been all this time receiving reports about its existence. Regrettably, we
cannot advice on USA tax issues, as we are not qualified to render legal opinions based on
USA laws and rules. We have clients who “donate” assets, “expend” money, invest money,
purchase properties, and sometimes it is fully declared and informed to US, and sometimes
the client just announces that he expended or donated the money/assets, or simply made an
investment in a company that went into bankruptcy;
b. Your CPA is correct. You are always supposed to report ownership in any foreign corporation
to the US government through the typical IRS forms;
c. As explained above, you can spend the money, you can donate the money (paying some
taxes of course), you can take the money in cash, you can do a bad investment; you can
purchase something and not receive anything (an expensive piano, an expensive
software). You can receive an invoice from Panama or any other location and that would
justify some of the outgoing moneys. You can also declare everything to the tax
administration. Any decision you make, please be aware that you will have to sign a
“disclaimer” to us. We can only “suggest”, but the final decision to take the money out of the
country is fully yours, and under the professional opinion of someone in USA;
d. As long as the money is already outside, the next step is ours (Mossfon). We can receive the
money in Escrow through an intermediate company, and later on send the money to the final
shield structure;
e. As there is no tax exchange information treaty with Panama, the money under a trust structure
will never be disclosed. The assets bought with such money will never be disclosed
neither. The best scheme is to have the property under a corporation whose shares are under
a 100% confidential private foundation. The Private Foundation is our favorite trust structure.
I hope to have answered your questions.
If you have any further queries please do not hesitate to contact us.
6

 Yours truly,
s
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Please send all your messages to our departmental email account: mftrust@mossfon.com

From: INTRANET@tradedirect.biz
Sent: Domingo, 04 de Junio de 2006 05:42 p.m.
To: Mossfon Trust Corporation
Subject: Sovereign Society Conference/ - 1329185
Mr. Owens and Ms. Mikailova:
Thank you for establishing this secure means of communication. It is unfortunate that privacy is such a difficult thing to
come by but in this case I think it well worth the effort.
For billing purposes, let me give you my contact information:
Jim Culbertson
24735 SE 56th St.
Issaquah, WA 980029
I understand your time is valuable and don't know what business will ultimately ensue from this communication so you
may want to bill me for this time in the event that further business justifying your time investment does not come to fruition.
Background:
As I have said, I have recently attended the SS conference in Panama City. There I was most frightened by Mr.
Nestmann. I believe that the US has lost sight of many of its founding principals and is no longer the bastion of freedom it
once was. It seems prudent, therefore, to have some assets in places outside the US and it seems they will only be safe
from the US if the US does not know that they exist.
On a separate but related track, I looked at a number of properties in Panama through the Prima Panama connection. In
fact, it was in discussing this problem with Paul McBride that I was urged to contact you whom Paul holds in the highest
regard. At first I thought I could just buy the properties and the money would be in Panama and problem
solved. Unfortunately it seems it is more complicated than that. If I buy a property I own a Panama
corporation. According to my CPA I'm supposed to report ownership in any foreign corporation to the US
government. This seems to defeat the purpose.
Question:
How does a US citizen legally get funds to Panama without the knowledge of the US government and how can those
funds be profitably invested without the US government knowing about them. Note that avoiding taxes is not the issue but
I don't see how I can keep the government from knowing about the assets if I must report them whether taxes are due or
not.
Thanks in advance for any thoughts you have on this,
Jim Culbertson

From: Mossfon Trust Corporation
Sent: Fri 6/2/2006 3:35 PM
To: INTRANET@tradedirect.biz
Cc: Ramsés Owens - Lawyer
Subject: Sovereign Society Conference
7

 under a different message, in which case we would need to submit our note of
charges. Thanks for your comprehension in this regard;
4. Panama is a tropical country. We are in the middle of the Americas. Only in Nicaragua it rains
more that in Panama. Smithsonian Tropical Research Institute is located in Panama. Panama
is also a relatively poor country. The gross domestic product per capita is ¼ the USA
one. These are good arguments to have a Foundation in Panama rather than in USA.
Yours truly,
s
n
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w
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Please send all your messages to our departmental email account: mftrust@mossfon.com

From: INTRANET@tradedirect.biz
Sent: Tuesday, June 06, 2006 12:58 PM
To: Mossfon Trust Corporation
Subject: RE: Sovereign Society Conference - 1

Dear Mr. Owens:
Thank you for your thoughtful comments. Perhaps I can trouble you further with some clarifying
questions?
Let us suppose that you create a Private Foundation for me and a Corporation whose shares are
100% contained in the Private Foundation. At what point do the funds become completely
private? Does this occur as soon as they hit Escrow or not until deposited in the corporation's
name? At what point is there absolute privacy such that the US government can never know (unless
I tell them) what happens to those funds?
If the above paragraph is true, then what is required is a plausible reason/story for the funds to move
to Panama and to the point of complete privacy. The best story will be one in which it is likely that the
funds will not return or one in which it is plausible that no income is generated for the IRS to be
interested in.
How difficult is it to set up a Panamanian nonprofit organization to do research and how restrictive is
such a structure - ie what are the reporting and oversight requirements in Panama? How private
could it be? How do Panamanians feel about stem cell research?
As an alternative I could set up a for profit company with the same objective and a high probability of
failure. What I probably need in either case is a compelling reason for attempting this in Panama
instead of in the US. Any thoughts on the differences between the two countries in this regard?
Thank you again for your thoughts,
Culbert
5

 From:
Sent:
To:
Cc:
Subject:

Mossfon Trust Corporation
Tuesday, June 06, 2006 5:45 PM
INTRANET@tradedirect.biz
Legal Assistant
Sovereign Society Conference

Dear Mr.
Always very happy to be of assistance. Our comments follow:
1. If we create a Private Foundation and the underlying company for you, the funds become
completely private (US cannot know) as soon as the funds are deposited under a bank
account or investment account in the name of the underlying company or the private
foundation. It actually does not occur when the money hit Escrow;
2. We gave you some ideas in our last message regarding the ways to take the money out of the
country. You are right as to the idea that the best story will be one in which it is likely that the
funds will not return or one in which it is plausible that no income is generated for the IRS to be
interested in. However, these ideas would have to be performed by you according to the
opinions and advice from your accountants and tax experts in USA. We can only receive
money and keep it in custody and so superficial suggestions;
3. A Panama Private Foundation is actually a nonprofit organization. A Private Foundation can
perfectly do research and such Foundation can be registered in Panama under the “nonprofitable organizations” register. However, such Private Foundation cannot receive money
from the public as “donations”. Additional information regarding public non-profit organization,
the legal requirements to create these foundations and comments about the possibility for
these public foundations to do stem cell research would be something that would be given
under a different message, in which case we would need to submit our note of
charges. Thanks for your comprehension in this regard;
4. Panama is a tropical country. We are in the middle of the Americas. Only in Nicaragua it rains
more that in Panama. Smithsonian Tropical Research Institute is located in Panama. Panama
is also a relatively poor country. The gross domestic product per capita is ¼ the USA
one. These are good arguments to have a Foundation in Panama rather than in USA.
Yours truly,
s
n
e
w
O
s
é
s
m
a
R
m
o
c
.
n
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f
s
s
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f
s
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.
w
w
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Please send all your messages to our departmental email account: mftrust@mossfon.com

From: INTRANET@tradedirect.biz
Sent: Tuesday, June 06, 2006 12:58 PM

 A thousand apologies for my tardy response. I have recently purchased two properties here in the US and have been
distracted with negotiations and inspections and repair orders. In addition my two children are now out of school and so I
find my time is not my own.
I believe I understand the answers to my questions thus far. One I don't completely understand is the line that goes -

The only possible way is to make an investment in a double taxation treaty country, wait for 2-3
years, and make the money come back through this treaty tax avoidance jurisdiction (treaty
shopping);
Perhaps you could elaborate on this line?
Thanks and more later...
Jim

From: Mossfon Trust Corporation
Sent: Wed 6/14/2006 2:49 PM
To: INTRANET@tradedirect.biz
Cc: Ramsés Owens - Lawyer
Subject: Sovereign Society Conference /1336270omRO
Dear Mr. Culbertson:
We kindly ask you for an acknowledge receipt of our below email.
We gladly await your reply and express our most sincere appreciation for your interest in our services.
Cordially,

Olga Mikhailova on behalf of Ramses Owens
MOSSFON TRUST CORP.
Arango-Orillac Blgn.
54th Street East
Panama
 (507) 214 9372/73
 (507) 263 8972
 mftrust@mossfon.com
www.mossfontrust.com

From: Mossfon Trust Corporation
Sent: Monday, June 12, 2006 8:12 AM
To: INTRANET@tradedirect.biz
Subject: Sovereign Society Conference /1336270omRO

Dear Mr.
Thanks for your message below. Happy to be of assistance again.
(1) Thank you for being so sincere in your words. Here in Panama, thankfully this particular
research does not worry our government;
(2) There are actually no restrictions concerning the Private Foundation or an underlying entity
that needs to be aware of. You are right as to the fact that once money moves into a
2

 (3)

(4)

(5)

(6)
(7)
(8)
(9)

corporation outside of USA it is difficult to get it back without double or triple taxation. The
only possible way is to make an investment in a double taxation treaty country, wait for 2-3
years, and make the money come back through this treaty tax avoidance jurisdiction (treaty
shopping);
The issue relating to the type of entity concerns more to the USA system than the Offshore
system. For the Offshore stage, the important subject is to take the money to them
Offshore. It does not really matter if it is an Offshore Limited Liability Company or a
Corporation, or an IBC, or a BV or a BC, or a LLP. Take the money Offshore is the main fact;
In Panama, there is no restriction whatsoever regarding funds of a Private Foundations,
which can be invested or distributed wherever in the world and will never be subject to taxes
in Panama. However, the client will have to create an scenario in his place of domicile to do a
tax efficiency scheme;
USA doesn't recognize the Panamanian Private Foundation as a legal structure. However,
USA always characterize the Private Foundation in order to tax it. The IRS always
characterizes the Foundation depending how it works. If the income is disbursed to the
beneficiaries and such beneficiaries take decisions, they characterize the Foundation as a
corporation. If the beneficiaries do not take decisions, they characterize the Foundation as a
Trust;
It is better if the Foundation is characterized as a Trust;
In the IRS forms, there is nowadays some check boxes where the Private Foundation can be
selected;
The Private Foundation is usually nor recorded in USA as a disregarded entity bit as a Trust,
of course, only when the Private Foundation is fully disclosed by the client to the IRS;
We have right now a special offer by which we create a Private Foundation/company
combination for a flat fee of US$4,500.00. It includes Charter Documents, Regulations,
nominee officers and directors, bank account and management of funds, provision of
authorized signatories, neutral phone and fax numbers and mail forwarding services for both
the private foundation and its underlying company.

Yours truly,
s
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w
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s
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t
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all your messages to our departmental email account: mftrust@mossfon.com

ANET@tradedirect.biz
, June 09, 2006 11:21 AM
Trust Corporation
: Sovereign Society Conference

wens:
T
p
l
t

again for your insightful comments and please do not be bothered with the stem cell /
dation research question. I had intended to ask more about the political climate than the
icalities at this time. As you are no doubt aware our President is somewhat sensitive on
ell issue and I only wondered whether you have similar political influences in Panama that
3