Financial Crimes

Knowing When To Say When: Tax Practitioners & The Rules Governing the Giving of Legal Advice
Listen During its previous term, in a case that definitely took a back seat to the Affordable Care Act, same-sex-marriage, and the other high-profile disputes that the Supremes attempted to resolve, the High Court might have changed the way that doctors, dentists, accountants, lawyers, and other professionals have done business for decades. In North Carolina …
Court Authorizes IRS To Issue John Doe Summonses For Records Relating to U.S. Clients Who Used A Shell Company To Conceal Offshore Accounts
Listen On December 18, 2014, U.S. District Judge Vernon S. Broderick entered an order authorizing the IRS to issue summonses requiring the following companies to produce information about U.S. taxpayers who allegedly evaded federal taxes by using the services of Sovereign Management & Legal Ltd. (Sovereign): • Federal Express Corporation, doing business as FedEx Express, …
Lessons Learned From The Recent Conviction of Swiss Banking Giant Credit Suisse
Listen When European financial giant Credit Suisse AG pleaded guilty to assisting U.S. taxpayers evade federal income tax, there was a great deal of swagger at the Justice Department. Former Attorney General Eric Holder, in classic Clint Eastwood style, boldly proclaimed that “no financial institution. . .is above the law,” and that any other bank …
Today’s Criminal Justice System: Does It Live Up To What The Founding Fathers Envisioned It To Be?
Listen “A diligent prosecutor can convince a grand jury to indict a ham sandwich.” This quote by New York Court of Appeals Chief Judge Sol Wachtler was made even more famous in the Tom Wolfe novel The Bonfire of the Vanities. Apropos of nothing, Judge Wachtler also once referred to the death penalty as “the …
Government Expands Forfeiture Program
Listen In 1984, George Orwell’s novel about a dystopian near-future society, Oceania was constantly at war with one of its geopolitical rivals. The grandfatherly yet sinister O’Brien later admitted that victory over Eurasia or Eastasia was not the war’s objective – the ongoing conflict was simply an excuse for the totalitarian government to intervene in …
L.A. Fashion District: The Most Recent Target of the U.S. Government’s Crackdown On Money Laundering & The BMPE
Listen The Los Angeles Fashion District spans 100 blocks, with over 2,000 businesses selling fashions and accessories at 30% to 70% off retail prices. Saturdays are the busiest Los Angeles Fashion District shopping days, when wholesale-only shops open to the general public. The Sunday shopping epicenter is Santee Alley, between Olympic and Pico Boulevards, where …