Finance & Banking Criminal Law Immigration

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SEC Charges EB-5 Fund Operators and Finders

The Securities and Exchange Commission (the “Commission” or “SEC”) has become increasingly active in enforcing alleged violations of U.S. securities laws arising under the EB-5 Immigrant Investor visa program. EB-5...more

Latest GTO Reflects FinCEN’s Aggressive Approach to Anti-Money Laundering

On April 21, 2015, the Treasury Department’s Financial Crimes Enforcement Network issued a geographic targeting order, an anti-money laundering device focused on trade-based money laundering schemes used by drug cartels,...more

FinCEN and ICE Issue Geographic Targeting Order Against Electronics Exporters in the Miami Area

On April 21, 2015, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) served a Geographic Targeting Order (GTO) on about 700 electronics exporter businesses in the Miami area, in an investigation into cash...more

The SEC Brings Another Case Centered on the EB-5 Immigration Program

The government’s EB-5 program is supposed to be a win win for everyone. For immigrants seeking admission to the United States it is supposed to provide a path to citizenship if the requirements, centered on the investment of...more

Kazakhstan’s Law on Legalisation of Property

Legalisation allows release from liability and legitimises the turnover of property. The Law on Amnesty of Kazakhstan Citizens, Repatriates (Oralmans), and Individuals Having Kazakhstan Permanent Residence Permit in...more

FinCEN Advisory Addresses Risks Presented By Citizenship-by-Investment Program

On May 20, FinCEN issued Advisory FIN-2014-A004, warning financial institutions about the risk of illicit financial activity conducted by individuals with passports from St. Kitts and Nevis (SKN), which allows individuals to...more

UPDATE: Developments in the Ukraine and Impact on Investments

On Sunday, Crimea voted to secede from Ukraine. The EU and U.S., which consider Sunday’s referendum in Crimea to be illegal, retaliated with sanctions. The nature of these is set out below as a further update to the Alert...more

SEC Brings Case Involving EB-5 Investment Program

It’s not often that the securities enforcement and immigration law worlds collide, but I suppose it occasionally happens....more

Non-Citizens Risk Immigration Status for Offshore Bank Accounts

The increased focus by the IRS on foreign income has generated a lot of news and a slew of criminal prosecutions. While US citizens need to consider the possibility of monetary penalties or a long prison sentence, resident...more

FBAR Conviction of NJ MD Affect Dual Nationals

On January 11, 2012 Michael Reiss, a physician from NJ was sentenced for failing to report offshore (Swiss) bank accounts(11:CR:0068),United States District Court SDNY. The sentencing memos of the U.S make some important...more

Are FBAR Settlement Programs Provoking Expatriation?

Since 2009 the IRS and some state governments have initiated settlement programs designed to encourage taxpayers with offshore financial accounts to come forward with the expectation that by doing so they will avoid criminal...more

Fleeing The Mexican Drug War: Foreign Investors’ Immigration Issues - The Matrix of U.S. Legal Considerations

Background and Context: •Mexico’s Drug War •Drugs going North and Guns going South •Since President Calderon’s election in Dec. 2006, it is estimated there have been over 36,000 deaths •DOJ considers the Mexican drug...more

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