Archive | Tax Evasion

New Hampshire Resident Pleads Guilty to Tax Evasion Scheme

December 20, 2017  |   Posted by :   |   Tax Evasion   |   0 Comments

New Hampshire tax payer Gary P. Borak will serve 2 years in federal prison pay $168k in restitution to US government and have 3 years of supervised release or defrauding the US treasury out of $168k taxes due. Taxpayer amended 2007 and filed delinquent tax returns for 2008 (but never filed 2009 thru 2016). Taxpayer […]

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DMX Pleads Guilty to Tax Fraud, Faces Jail Time

December 01, 2017  |   Posted by :   |   Tax Evasion   |   0 Comments

Rapper also known as Earl Simmons admits he hid millions of dollars in revenue in order to dodge $1.7 million in taxes See complete article at thewrap.com

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​ The Paradise Papers – Secrets of the Global Elite

November 06, 2017  |   Posted by :   |   International Tax Planning,Panama Papers,Paradise Papers,Tax Evasion   |   0 Comments

The International Consortium of Investigative Journalists (ICIJ) has recently leaked 13.4m documents from Appleby offshore law firm (Bermuda), Asiaciti Trust (family owned trust co.) and Co registries in 19 secrecy jurisdictions. The Paradise Papers include: nearly 7m documents including loan agreements, financial statements, e-mails, trust deeds and other financial records from the last 50 years. […]

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Malta Car Bomb Kills Panama Papers Journalist

October 19, 2017  |   Posted by :   |   Panama Papers,Tax Evasion   |   0 Comments

Daphne Caruana Galizia, famed Malta Investigative Journalist, who was leading the Panama Papers investigation into corruption in Malta, was murdered by car bomb on Oct 16, 2017. Known as a “One Woman Wikileaks”, her recent revelations (from information disclosed in the Panama Papers) implicated the current Malta Prime Minister Joseph Muscat, his wife, and two […]

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The US and World Wide Tax Evasion

August 31, 2017  |   Posted by :   |   FATCA/FBAR,Tax Evasion   |   0 Comments

Although with the implementation of the Foreign Account Tax Compliance Act (FATCA), America has taken the lead in attacking US taxpayers who evade taxes by hiding assets offshore (held thru anonymous companies) in 2017 America has become the world’s biggest tax haven. In America, today 14 states allow US Companies to be formed without the […]

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Offshore Tax Evasion & Compliance: OECD/CRS and FATCA

August 07, 2017  |   Posted by :   |   International Tax Planning,Tax Evasion   |   0 Comments

For foreign investors who become EB-5 Visa holders or other US green card they will be subject to annual US world wide tax reporting for income and disclosure of all offshore financial accounts over $10,000 that they own or control (FBAR filing: FinCen Form 114) and foreign financial assets over $50,000 (FATCA/Form 8938 attached to […]

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Panama Papers Update: Pakistan Prime Minister Resigns

July 31, 2017  |   Posted by :   |   Panama Papers,Tax Evasion   |   0 Comments

As reported on 7/28/17 by the NY Times Nawaz Sharif, Pakistan Prime Minister, resigned after the Pakistan Supreme Court ordered his removal for corruption. In 2016, the Panama Papers disclosed that Sharif and 3 of his children owned expensive residential real estate in London held anonymously thru offshore companies. The Court held that Sharif was […]

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Monaco striker Radamel Falcao pays €8.2m in tax case

July 24, 2017  |   Posted by :   |   Tax Evasion   |   0 Comments

Monaco forward Radamel Falcao has paid E8.2m ($9.3m US) to tax authorities in Spain as part of an ongoing investigation into alleged tax evasion. Spanish Tax Authorities are investigating Falcao for tax evasion. They allege he failed to correctly declare 5.6m Euros in income earned from image rights between 2012-2013 while at Atletico Madrid. If […]

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Recording Artist and Performer DMX Charged With Tax Fraud

July 17, 2017  |   Posted by :   |   Tax Evasion   |   0 Comments

Rapper DMX (aka Earl Simmons) was arrested in NY on 7/13/17 and charged with 14 separate counts of tax fraud and tax evasion for a multi-year scheme to hide millions in income from the IRS and pay $1.7m due in taxes. He faces 40 years in jail for not paying $1.7m in taxes incurred between […]

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Offshore Tax Evasion & Worldwide Soccer

July 05, 2017  |   Posted by :   |   Tax Evasion   |   0 Comments

With the publication of the Panama Papers in 2016, some of the world’s wealthiest individuals were revealed as tax cheats who hide their assets offshore through anonymous companies. Worldwide soccer has now been thrust under a similar spotlight as some of its brightest stars are being prosecuted for tax evasion, fraud and related crimes. In […]

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