Tax Fraud

News & Analysis as of

New Hampshire Man Pleads Guilty Regarding Accounts in Switzerland, Israel, and Jersey

On October 20, 2014, Menashe Cohen pleaded guilty in New Hampshire federal court to one count of filing a false income tax return for failing to report the existence of his Swiss and Israeli bank accounts on his 2009 tax...more

Former UBS Banker Trial Begins in Florida

Opening statements were heard on Tuesday and the first government witness testified yesterday in the trial of ex-UBS AG banking executive Raoul Weil. Prosecutors have sought to show him as the driving force behind the bank’s...more

Belgian Tax on the conversion of bearer securities incompatible with EU-legislation

The Law of 14 December 2005 on the abolition of bearer securities provided (a.o.) in the obligation to convert the bearer securities into dematerialized securities or registered securities, by no later than 31 December 2013....more

Facebook and IMs Provide Key Evidence to Prosecutors in Criminal Cases

Two recent events demonstrate how prosecutors are increasingly turning to other forms of electronic information to construct their cases. First, Francisco R. Legaspi, now 61, who had been a fugitive for the past 22 years, was...more

Bank Julius Baer Customer Implicated in Alleged Tax Fraud

Reuters is reporting that Bank Julius Baer is cooperating with French authorities in their criminal investigation into an alleged value-added-tax (“VAT”) fraud in the EU Emissions Trading System. ...more

Russia requests that INTERPOL issue a Red Notice for William Browder again

Russia's preoccupation with obtaining a Red Notice against William Browder continues. I first addressed this issue here. For those who haven't followed the case, William Browder is the chief executive officer and co-founder...more

Florida Doctor Sentenced for Defrauding the IRS

On May 9, 2014, a Florida doctor was sentenced to serve two years in prison and three years supervised release for conspiring to defraud the Internal Revenue Service (IRS). The doctor was found guilty of concealing millions...more

The IRS will not flag, identify or otherwise note a SSN that may be subject to identity theft and subsequent tax fraud. Go figure....

Nearly every day there’s another news story about another company suffering a data breach, either as a result of a lost or stolen device or because the company was hacked. Talk to any number of knowledgeable attorneys skilled...more

Swiss Bank Pleads Guilty In Alleged Tax Evasion Conspiracy

On May 19, the DOJ announced that a Swiss bank pleaded guilty and entered into agreements with federal and state regulators to resolve a multi-year investigation into the bank’s alleged conspiracy to assist U.S. taxpayers in...more

Whistleblowers Could be the First Responders Against Fraud

We knows who the first responders are. When a student opened fire at a Nevada middle school on Monday morning, October 21, 2013, teacher Michael Landsberry sacrificed his life to protect the children in the school. Teacher...more

New York AG Settles Tax Fraud Case against Lantheus Medical Imaging For $6.2 Million

Lantheus Medical Imaging Inc. – formerly, Bristol-Myers Squibb Medical Imaging – recently agreed to pay $6.2 million to settle a qui tam suit alleging that it committed tax fraud. The plaintiff, a Lantheus tax servicer,...more

Ex-Israeli Banker Indicted for Assisting Americans in Tax Fraud

On April 30, 2014, a federal grand jury in Los Angeles, California, indicted Shokrollah Baravarian for Klein conspiracy: conspiracy to defraud the United States by impairing and impeding the IRS. ...more

Court’s Ruling Holding Corporate Officer Responsible for Trust Fund Recovery Penalty Illustrates Risk of Personal Liability for...

A district court in the Northern District of California has held that the officer of a now-defunct corporation is personally responsible for the Trust Fund Recovery Penalty based upon the company’s failure to collect, account...more

Recent Sentences for Federal Tax Crimes in 2014 – Part 3

Today we conclude our review of recent sentences imposed in federal tax crime cases in 2014. In our two previous posts here and here, we reviewed sentences relating to Foreign Bank Account, Tax Evasion, Employment Tax, False...more

New York’s Appellate Division Affirms New York Attorney General’s Ability To Proceed With Tax Fraud Suit Against Sprint

Last spring, a New York trial court denied Sprint’s motion to dismiss the New York Attorney General’s lawsuit alleging tax fraud under the New York False Claims Act (NY FCA). Specifically, the NY AG claims that Sprint...more

First Lady Of Tax Fraud

The IRS just issued its Criminal Investigation Annual Report. Budget constraints caused the staffing of Special Agents to drop to the lowest numbers in recent history, but 2013 included a 12.5 percent increase in...more

Can SOX Go Overseas? The Debate Continues

The continuing controversy over whether retaliation claims under the Sarbanes-Oxley Act ("SOX") cover activities outside the United States continues to play out in the courts and administrative bodies. The two leading cases...more

Complaint about Foreign Tax Violations Sunk Under SOX

On February 12, 2014, the Fifth Circuit in Villanueva v. U.S. Department of Labor held that an employee did not engage in protected activity under SOX when he reported alleged violations of Columbian tax laws to U.S....more

Gentleman’s Club Owner Hit With Fraud Penalty

A new Tax Court decision just came out – Potter v. Commissioner, TC Memo 2014-18. The case involved a “gentleman’s club” owner in Michigan. In December 2006 IRS special agents engaged in an undercover investigation of...more

Behind Royal Allegations: Leveraging the Fraud Triangle to Positively Impact Your Anti-Corruption Training

It seems that the Spanish royal family can’t do anything right these days. Recall that the initial tarnish on the family came from legal, albeit unseemly occurrences (i.e. rumors of the King’s extra-marital affairs, the...more

Beanie Babies Creator Seeks Probation for $107 Million UBS Account

The Chicago Tribune reports that Beanie Babies creator Ty Warner, who pleaded guilty last year to one of the largest tax frauds in Chicago-area history, has asked the federal court to sentence him to probation. His sentencing...more

Raminfard Guilty Plea Highlights Complexity Of International Tax Compliance, Seriousness Of Violations, Importance Of IRS Offshore...

Los Angeles Businessman, David Raminfard, pleaded guilty on November 4th, 2013 in the Federal District Court in Los Angeles to conspiring to defraud the United States, the Justice Department and Internal Revenue...more

FinCEN: Accountant and Elder Abuse

We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception. In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance: 1)...more

HM Revenue & Customs - Tax Evasion Enforcement

There has been much publicity regarding tax avoidance of late in the UK. In the age of austerity, tax avoidance by companies is scruitnised by the press and is a hot topic with the public....more

Grand Jury Indicts Swiss Lawyer and Banker in Tax Evasion Scheme

A New York federal grand jury recently indicted a Swiss lawyer and bank executive for their roles in allegedly assisting US citizens with hiding assets in Swiss bank accounts, allowing the US citizens to evade income taxes....more

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