We frequently post stories about both Americans and foreign bankers prosecuted for tax evasion involving unreported offshore accounts. U.S. taxpayers are usually prosecuted for filing a false tax return (a 3 year felony) or failure to file an FBAR (5 years). Bankers, lawyers and accountants associated with these taxpayers are frequently charged with conspiracy to […]
IRS Cracks Down On Captive Insurance Arrangements
Accountants and tax lawyers are seeing a rise in IRS audits directed at companies using captive insurance arrangements. While big businesses have long used captives as a way of managing risk, IRS efforts appear to be directed at smaller companies that rely on section 831(b) of the tax code. (In July we reported on the […]
"Corruption Part Of County Business" – Whistleblower Post
The front page headline in this morning’s Atlanta Journal Constitution says it all – Grand Jury: Corruption Part of County Business. Some would say we are becoming immune to government corruption but thankfully most people are still outraged. A special grand jury in suburban Atlanta conducted a year long investigation and found corruption at all […]
Health Care Fraud – Feds Arrest 75 People
Health care fraud costs Americans $80 billion per year according to the FBI. And the cost is rising! The feds can’t lock up the culprits fast enough – if they can even find them. Law enforcement officials in Puerto Rico are trying to make a dent; the Justice Department announced that 75 people were arrested in […]
22 Year Sentence Upheld In Hollywood Investment Fraud Case
There is a popular perception that courts simply give white collar fraudsters a slap on the wrist – a quick court appearance in the afternoon and then home in time for dinner. While we believe that the government hasn’t prosecuted enough criminal fraud cases against the big banks and Wall Street, federal judges do hand […]
Anatomy of a False Claims Act Lawsuit
Recently we wrote about the record false claims act (whistleblower) award paid to pharmacist T. Mark Jones an his company Ven-A-Care. The sheer size of the awards – $597,000,000.00 is itself newsworthy and an inspiration to whistleblowers everywhere. Every time we write about a false claims act case, we get questions from readers. In this […]
America Needs Whistleblowers
In recent months we have railed against the lack of criminal prosecutions tied to the economic meltdown. While tens of millions of Americans remain unemployed (or underemployed / working for significantly less pay / upside down on their mortgages), no executives from America’s Too Large To Fail, Too Large To Jail banks are behind bars. […]
Pharmacists Hit Whistleblower Lottery – Collects $597 Million!
The average Joe buys the occasional Powerball ticket hoping to win a few million bucks. T. Mark Jones, a pharmacist from Key West, decided to roll up his sleeves and become a whistleblower. His investigation of Big Pharma’s overbilling schemes saved taxpayers $3 billion dollars and earned $597,000,000.00 in whistleblower award money. Some say “crime […]
Rules For Expatriation? How About An Exit Tax!
As taxes continue to climb, more and more Americans are getting fed up. While its common to hear people in taverns and lunch counters across the country threaten to simply give up their citizenship, record numbers are actually doing so! Renouncing one’s citizenship and leaving the country is called expatriation. Of course many people who […]
Anderson Scott Hall Faces New Charges In Abaco Securities Scam
In June we wrote about Anderson Scott Hall, head of Abaco Securities International. At the time, Hall was awaiting trial on 20 counts of wire and mail fraud. Prosecutors say he bilked millions of dollars from teacher and school district employees near Jacksonville, Florida. Hall’s case was scheduled for trial in August but a federal […]
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