Category: Asset Protection Planning

New Hampshire Man Pleads Guilty To Filing False Tax Return

Monday, October 20, 2014

For Immediate Release

U.S. Attorney’s Office, District of New Hampshire

WASHINGTON – A Hampton, New Hampshire, man pleaded guilty today in the U.S. District Court for the District of New Hampshire to filing a false federal income tax return for tax year 2009, the Justice Department and Internal Revenue Service (IRS) announced.

According to court documents, Menashe Cohen, an oriental carpet dealer, and his sister maintained an undeclared bank account at UBS in Switzerland that had a bal

Former Florida Resident Indicted for Tax Evasion and Failing to Report Foreign Bank Accounts

FOR IMMEDIATE RELEASE Wednesday, February 10, 2021 Former Florida Resident Indicted for Tax Evasion and Failing to Report Foreign Bank Accounts A federal grand jury returned an indictment today charging Lucia Andrea Gatta, a former resident of Palm Beach County, Florida, with tax evasion and failing

Los Angeles Man Pleads Guilty to Not Reporting over $1 Million Held in Israeli Offshore Accounts

Los Angeles Man Pleads Guilty to Not Reporting over $1 Million Held in Israeli Offshore Accounts Monday, August 20, 2018 For Immediate Release U.S. Attorney’s Office, Central District of California LOS ANGELES – A Los Angeles man pleaded guilty today in U.S. District Cou

Azizur Rahman Indictment FBAR case

ALEXANDRIA, Va. – A federal grand jury returned an indictment today charging a Herndon man with failing to file Reports of Foreign Bank and Financial Accounts (FBARs) and filing false documents with the IRS.

According to the indictment, Azizur Rahman, 70, had a financial interest in and signature authority over more than 20 foreign financial accounts, including accounts held in Switzerland, the United Kingdom, the Republic of Singapore, and Bangladesh. For the years 2010 through 2016, Rahman allegedly did not disclose his interest in all of his financial accounts on annual FBARs, as required by law. Rahman also allegedly filed false individual tax returns for the tax years 2010 through 2016 that did not report to the IRS all

A professor and researcher at Massachusetts Institute of Technology (MIT)

The defendant allegedly failed to disclose his work for the People’s Republic of China to the U.S. Department of Energy BOSTON – A professor and researcher at Massachusetts Institute of Technology (MIT) was charged and arrested today in connection with failing to disclose contracts, appointments

Dr. Charles Lieber – Wuhan University of Technology

Dr. Charles Lieber was found guilty of concealing his affiliation with the Wuhan University of Technology and his participation in China’s Thousand Talents Program

BOSTON – The former Chair of Harvard University’s Chemistry and Chemical Biology Department was convicted by a federal jury today in connection with lying to federal authorities about his affiliation with People’s Republic of China’s Thousand Talents Program and the Wuhan University of Technology (WUT) in Wuhan, China, as well as failing to report income he received from WUT.

Dr. Charles Lieber, 62, was convicted following a six-day jury trial of two counts of making false statements to federal authorities, two counts of maki

U.S Treasury Sanctions Lazarus Group in virtual currency heist, largest theft to date

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019. This includes over $455 million stolen by the Lazarus Group, a Dem

Jury Convicts Southern Illinois University-Carbondale Professor of Concealing Foreign Bank Account from the Internal Revenue Service

Jury Convicts Southern Illinois University-Carbondale Professor of Concealing Foreign Bank Account from the Internal Revenue Service Benton, Ill. – Dr. Mingqing Xiao, 60, of Makanda, Illinois, was convicted by a federal jury on Wednesday, May 4, 2022, in connection with lying to federal authorit

Recently enacted legislation termed “CTA” that may affect your tax planning

Recently enacted legislation termed “CTA” may affect your tax planning.

The recently enacted legislation is part of the National Defense Authorization Act (NDAA) enacted by Congress on January 1, 2021, through the override of a presidential veto. The NDAA is a series of federal laws primarily specifying the annual budget and expenditures of the United States Department of Defense. The NDAA for Fiscal Year 2021 includes the expansive Anti-Money Laundering Act of 2020 (AMLA). The AMLA bolsters existing anti-money laundering legislation through several amendments to the Bank Secrecy Act (BSA), which has been the primary statutory vehicle for financial institutions to assist the federal government in detecting and preventing money laundering since its passage in 1970. The amendme

New Panama laws for declaration of the ultimate Beneficial Owners

If you have not learned from the Panama Papers debacle, then listen up to the newly enacted Panama laws for declaration of the ultimate Beneficial Owners’ reporting requirements. Penalties are extremely harsh! The resident agent will be sanctioned with fines ranging from $1,000 to $50,000 for