Posted by Chenglu Xia. In his article, “Bitcoin Will Be Taxed as an Asset: Israel Tax Authority,” Samburaj Das states that Israel government will have a new regulation on cryptocurrency. The official tax authority is making a change, transferring bitcoin’s role from the cryptocurrency to an asset. However, Israel’s official authority is not the only …
Author Archives: blogbusinesslaw
Enron: The Smartest Guys in the Room
Posted by Shellian A. Murray. The basis for this blog will be an Enron story” The Smartest Guys in the Room (2005)” which was retrieved from the documentary listings on Netflix. A 2929 Entertainment, a Wagner/Cuban Company, Magnolia Pictures, HDNet Films. The documentary takes a behind the scenes look at the reliable energy company whose …
DMX Pleads Not Guilty to Tax Fraud
Posted by Ahmed Alzahrani. In this article, the rapper DMX is accused of evading tax. The rapper pleaded not guilty to any of the charges against him. He was later released in prison after spending one day in jail; this was after he paid $500,000 bond. The persecutor asserts that Earl Simmons also known as …
BofA Reaches $17 Billion Settlement with Feds Over Sale of Securities
Bank of America reached a settlement with federal prosecutors over the sale of mortgage-backed securities in the run-up to the 2008 financial crisis. BofA will pay 10 billion cash and about 7 billion in consumer aid. Most of BofA’s trouble is inherited from its purchase of Countrywide Financial. BofA was charged with misrepresenting the quality …
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Jail for Landlord – Tax Fraud
Posted by Abdullah Almohammadi. 51-year-old Steven Croman is a landlord with more than 141 apartment buildings in Manhattan. In 2016, was arrested for the allegations of obtaining loans fraudulently and committing tax fraud. Croman pleaded guilty for giving false business records, grand larceny, and criminal tax fraud. He was sentenced to one year jail and …
Wells Fargo’s Employees Fraud with Customers
Posted by Gurpreet Kaur. CNN Money released an article on Well Fargo’s employees secretly withdrawing money from customers’ bank account and transferring to new accounts since 2011. The article was published on September 8th of this year and Wells Fargo bank was forced to fire 5,300 employees in Los Angles for setting up accounts for customers. …
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Embezzlement and Forensics
Posted by Ahmed Alhadaith. Embezzlement is an illegal activity which several business owners have found themselves in over the years. One of the most recent cases in the United States involved one Jonathan Todd. He was an entertainment manager and through his dealings; he allegedly embezzled funds from some of his clients. Some of the …
Wells Fargo’s Employees Fraud with Customers
Posted by Gurpreet Kaur. CNN Money released an article on Well Fargo’s employees secretly withdrawing money from customers’ bank account and transferring to new accounts since 2011. The article was published on September 8th of this year and Wells Fargo bank was forced to fire 5,300 employees in Los Angles for setting up accounts for customers. …
Continue reading “Wells Fargo’s Employees Fraud with Customers”
Energy Investor Sentenced for Tax Evasion
Posted by Kelly Shaw. Morris Zukerman, age 72, plead guilty in June 2016 to obstructing the IRS as well as tax evasion. He was sentenced to 70 months in prison for his criminal offenses in March 2017. Morris sold a co-owned petroleum products company, which was owned by a subsidiary of his investment firm M.E. …
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Energy Investor Sentenced for Tax Evasion
Posted by Kelly Shaw. Morris Zukerman, age 72, plead guilty in June 2016 to obstructing the IRS as well as tax evasion. He was sentenced to 70 months in prison for his criminal offenses in March 2017. Morris sold a co-owned petroleum products company, which was owned by a subsidiary of his investment firm M.E. …
Continue reading “Energy Investor Sentenced for Tax Evasion”