Sometimes I don’t have to look very hard to find something important to our readers. Literally upon logging into my email this morning was a discussion on LinkedIn about a new small business lending program being marketed through accountants. Is that a wonderful new tool for CPAs to help clients with cash flow problems or […]
Former CPA Gets 3.5 Years in Prison, $100 Million Restitution For Tax Evasion Role
by Brian Mahany A former CPA and banker at Deutsche Bank AG was sentenced to 3-1/5 years and ordered to pay $115,700,000 for his role in helping clients evade taxes. David Parse will have to serve about 3 years before eligible for early release. He was convicted of mail fraud and obstruction charges. Prosecutors say […]
Insurance Agent Indicted In Novel Scam
by Brian Mahany According to records obtained from the clerk of the Federal District Court in Baton Rouge, Louisiana, Timothy Schlatre was indicted earlier this week in a novel insurance scam designed to generate huge commissions by making false statements and fraudulent applications. Schlatre was charged with both money laundering and mail fraud. If convicted […]
FBI, SEC Lose Focus on Recovering Assets for Fraud Victims
by Brian Mahany “With the FBI focusing its efforts on gathering intelligence and information, and the Securities and Exchange Commission dogged by accusations of failing to go after the pocketbooks of the largest Wall Street offenders, it may be time for the private sector to pick up the sword in the fight to recover assets […]
Uncle Sam Goes After Another Welfare Benefit Plan Scheme
by Brian Mahany The IRS and U.S. Department Justice Department have a special relationship with welfare benefit plan promoters and the brokers and insurance agents that sell them. They hate them. For over a decade, the IRS has declared that many welfare benefit plans are fraudulent and abusive tax shelters. Many of the promoters are […]