In March 2021, the Second Circuit Court of Appeals clarified its application of Morrison v. National Australia Bank Ltd., a 2010 Supreme Court case that limited the application of Section 10(b) of the Securities Exchange Act to “transactions in sec…
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A person who is charged with federal income tax fraud may face both civil and criminal penalties. The severity of the penalties will vary based on the nature and extent of the fraud. Criminal penalties for federal income tax fraud can result in subst…
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In June 2021, the Third Circuit Federal Court of Appeals denied the prosecution’s request for rehearing on a case that reversed the convictions of four Wilmington Trust Corp. executives. The decision leaves in place a unanimous panel decision that…
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Defense Attorneys Seek Downward Departure from Federal Sentencing Guidelines Defendant Ruben Weigand was charged with conspiracy to commit bank fraud in violation of 18 U.S.C. §1349. He was charged with participating in a scheme to trick banks into…
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It has been over a year since Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which authorized forgivable small business loans through the Payroll Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) p…
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The increasing popularity of cryptocurrencies like Bitcoin and Ethereum has prompted the IRS, Department of Justice (DOJ), and other government agencies to aggressively investigate and prosecute people who use digital assets to commit crypto tax frau…
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On March 2, 2021, the New York Attorney General announced a $105 million settlement against a New York City hedge fund manager and his firm for alleged tax evasion. The claim was filed by a whistleblower client under the New York False Claims Act and…
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In March, software innovator John McAfee and his bodyguard, a decorated former-Navy Seal named Jimmy Gale Watson, Jr., pled Not Guilty to federal criminal charges in New York federal court. The pair face charges of fraud, conspiracy, and money launde…
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Van Buren v. United States was the Supreme Court’s first opinion interpreting the Computer Fraud and Abuse Act (CFAA) of 1986. Originally drafted as an anti-hacking statute, the Act prohibits people from accessing computers or computer systems “w…
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Jonathan Nora was convicted of conspiracy to commit healthcare fraud, conspiracy to pay or receive illegal healthcare kickbacks, and aiding and abetting healthcare fraud. He appealed to the Fifth Circuit Court of Appeals, claiming his convictions wer…
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