Tax Evasion

  • The Different Types of White-Collar Crime Laws in Texas

    …. Both Texas and U.S. legislation list activities that are typically considered white-collar crimes: The U.S. Constitution’s Commerce Clause authorizes federal authorities to regular white-collar crimes. Multiple federal agencies, including the Environmental Protection Agency (EPA), SEC, FBI, U.S. Customs, Department of Labor (DOL), U.S. Postal Service…

    The Law Office of Matthew D. Sharp- 9 readers -
  • Connecticut Man Pleads Guilty in Securities Fraud Scheme

    …. The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker services, employment matters, strategic consulting and counseling, broker litigation…

    Eccleston Law Offices- 12 readers -
  • What Is a Federal Crime?

    … typically fall into the categories listed above, though not always. This list contains some of the most commonly prosecuted federal crimes: Mail fraud Bank robbery Drug smuggling Tax fraud or tax evasion Distributing illegal pornography through the Internet Destroying or defacing federal property Plane hijacking Human trafficking across state lines…

    Matthew Sharp/ The Law Office of Matthew D. Sharp- 23 readers -
  • Day of Reckoning Arrives For Thieving IP Attorney

    … A former senior in-house intellectual property counsel for Hunter Douglas was sentenced Wednesday to nearly six years in federal prison for his role in a fraudulent billing scheme involving fake patent searches. The former patent attorney pleaded guilty in April to federal felony charges of tax evasion and mail fraud arising from his theft…

    Michael E. Mccabe Jr./ IPethics & INsights- 25 readers -
  • Law360

    … as a shield for tax evasion penalties. In a more than 400page ruling, U.S. Bankruptcy Chief Judge Barbara J. Houser rejected the Wyly brothers’ defense that they could hide behind the advice of tax lawyers and other professionals to funnel their funds into a web of offhore trusts out of reach of the Internal Revenue Service, saying that Sam Wyly…

    Due Diligence- 26 readers -
  • When in Doubt, Sue! (“Panama Papers”)

    … heard from several folks with unreported accounts. Those are the smart ones. Many others will bury their heads and hope the nightmare ends. It won’t. The IRS whistleblower program pays awards to those with information about unreported taxes. That is how former UBS banker Bradley Birkenfeld received a $102 million whistleblower award. There are more…

    Due Diligence- 12 readers -
  • The Panama Papers – Looking for Whistleblowers

    … (including dual nationals) evade taxes, we are interested. The laws protecting whistleblowers vary from country to country. UBS whistleblower Bradley Birkenfeld received a $102 million award (USD) but can’t return to Switzerland. HSBC whistleblower Herve Falciani is wanted in Switzerland. Before you take any action, speak to us first…

    Due Diligence- 36 readers -
  • Comptroller of Currency ’16 Whistleblower Opportunities

    … and hiding bas loans from auditors may violate banking laws, however. In that case, if the behavior is significant, whistleblower awards may be available under FIRREA for those who step forward and report the misconduct. Bank Secrecy Act and Anti Money Laundering The federal government continues to pursue banks that help Americans commit tax…

    Due Diligence- 21 readers -
  • Fighting a Failure to Declare Penalty (19 USC 1497) issued by CBP

    … to ensure that parties declare valuable merchandise they have purchased abroad. This is important for many reasons, including tax evasion, money laundering, and the development of trade and commerce statistics. Low value items sometimes fall under CBP’s personal exemption rules and do not have to be declared. These rules vary depending…

    Mike Ivancie/ Ivancie Law- 89 readers -
  • Swiss Convict Tax Whistleblower in Absentia

    … a video link. He was scheduled to come to Miami and meet with several whistleblower lawyers but was afraid to leave France. We had to settle for a video conference. Falciani was staying in France to avoid arrest by Swiss authorities. Because he holds both French and Italian citizenship, he cannot be extradited from those countries. Despite Falciani…

    Due Diligence- 17 readers -
  • The Long Arm of the IRS (Tax Evasion Post)

    … money in a Swiss account. Today that man, Peter Canale, is awaiting his fate when sentenced this December. Canale, age 62, is facing 5 years in prison. Tragically, Canale’s tale is a family affair. His brother, Michael, pleaded guilty to similar charges in 2012 and was sentenced to 6 months in prison. The two bankers from UBS that helped Peter…

    Due Diligence- 41 readers -
  • India Signs FATCA Agreement With US

    … in India or receive income from India, you may be at risk. It is important to disclose information about your offshore assets before the IRS comes knocking on your door. There are amnesty and streamlined reporting options available but those are only available if you come into compliance immediately. Once the IRS gets your name through a subpoena…

    Due Diligence- 16 readers -
  • Hong Kong the New Money Laundering Destination?

    … reporting by people entering the country with more than HK$120,000. A government anti-money laundering task force suggested a reporting threshold of HK$160,000 (about $15,000 USD). In rejecting the proposal, one legislator said, “I wonder if anyone would launder money by carrying a huge amount of cash from one place to another.” A trade group…

    Due Diligence- 18 readers -
  • Two More Swiss Banks… FBAR Post

    … taxpayers set up fake trusts and foundations in St. Kitts and Liechtenstein. Nominee accounts have long been a subterfuge for tax evasion. There use has become so prevalent that the IRS considers the use of a shell or nominee entity to be an affirmative act of tax evasion. Both willful failure to file an FBAR and tax evasion are felonies punishable by 5…

    Due Diligence- 13 readers -
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