Florida and Ponzi schemes… never a week goes by without news of another Florida fraudster being caught in a massive fraud scheme. This week is no exception. The Securities and Exchange Commission announced charges against two Florida hedge fund managers. The men are accused of funneling more than a billion dollars of investor money into […]
The Dark Side of Home Foreclosures – Wrongful Foreclosures Post
[Post updated 2020] Since our economic crisis began in 2008, we have all heard the depressing mortgage foreclosure statistics. According to the Mortgage Brokers Association, every 3 months, 250,000 new families enter into foreclosure. 138,000 foreclosures alone were commenced in April of this year according to the government. And for every home in foreclosure, as […]
Now Coming to a Church Near you… the IRS?
by Brian Mahany According to an Internal Revenue Service report released last month, there are 1.8 million tax exempt organizations in the United States that collectively control well over $3 trillion in assets. In recent years, the IRS has increased its scrutiny of the non-profit center. The Criminal Investigation Division (IRS CID) is now jumping […]
When Good Lawyers Turn Bad
[Post updated] Lawyers are not held in high regard by many people. That is unfortunate since 99% of them do great work. Most lawyers get themselves in trouble when they get in over their heads and fail to seek help. Unfortunately a few are simply corrupt. The U.S. Securities and Exchange Commission charged one Minnesota […]
Fraudulent Conveyance Post – Homestead Exemptions Don’t Always Work
Why do so many fraudsters live in Florida? Some would say it is the climate but more probably, it’s Florida’s unlimited homestead exemption. Under Florida law, creditors cannot force the sale of one’s primary residence to satisfy claims and judgments. Many asset recovery lawyers and creditors believe that protection is absolute and simply give up. […]
Think Uncle Sam is Zealous About Tax Evasion Prosecution?
[Updated May 2020] It’s a rainy day in Macau, a former Portuguese island colony off the coast of China. My work as an asset protection and asset (fraud) recovery lawyer frequently takes me to interesting spots in the world. This week is no exception. Many nations are popular for Americans seeking to diversify their banking […]
Thousands of New IRS Agents Hit the Streets
A just released report shows the IRS collected $400,000,000,000 less in 2009 than in 2008. (Yes, that is 400 billion.) No surprise there – the economy remains in a slump and placing food on the table occupies a higher importance than paying taxes for many families. The same report, released by the Treasury Inspector General […]
Send In The Clowns! (Do you know who is managing your money?)
In January I wrote a piece titled “Do You Know Who Is Handling Your Money?” That piece discussed how TV star Willie Adams (star of reality television show “Broke and Famous”) was now licensed to be a financial planner. Willie isn’t alone. The newest entrant in my personal “Hall of Shame” is Kevin Trudeau. Trudeau […]
Fraudulent Transfer Post – How Can I Sue a Debtor Who Transferred His Assets?
Can Someone Transfer Their Assets to Avoid A Debt? No! A fraudulent conveyance, also known as a fraudulent transfer, is an attempt to avoid debt by transferring money to another person or company. It is generally a civil matter meaning that one cannot go to jail for it, but in some jurisdictions there is […]
Sex Changes and Breast Augmentation – What’s Fraud, What’s Legal?
In 2009, we represented an individual who was criminally charged by the IRS for fraudulent tax returns. Although we achieved a great result for the client, his attempt to deduct his wife’s breast enlargement surgery was rejected by the U.S. Tax Court. It turns out, however, that removal of one’s penis is tax deductible. Why […]