Wednesday, January 20, 2021

tax fraud

Hunter Biden says he is facing federal tax probe

The Justice Department is investigating the tax affairs of President-elect Joseph R. Biden Jr.’s son Hunter, he disclosed in a statement on Wednesday. The investigation is being led by the U.S. attorney’s office in Delaware. It was opened in late...

IRS uncovers $2.3 billion fraud in 2020 across 1600 investigations

The IRS uncovered $2.3 billion in tax fraud during the 2020 fiscal year, according to an annual report released by the agency on Monday. The Criminal Investigation Division of the IRS said in its report that its current priorities include Covid-19-related fraud,...

Geneva freezes Robert Brockman’s billions over US tax fraud case

The Geneva public prosecutor has blocked over a billion dollars of a US businessman's money in Geneva banks as part of the biggest tax evasion case in US history. The 79-year-old billionaire, Robert Brockman has been accused of tax...

Billionaire Robert Smith faces potential tax crimes over offshore transactions

When billionaire Robert Smith ended his 2019 Morehouse College commencement speech by vowing to pay off student debt for the entire graduating class, cheers of “MVP, MVP, MVP!” rose from students and faculty on the Atlanta campus. What the audience...

Harvard professor linked to Wuhan university faces tax charges

Prosecutors in the United States brought tax charges on Tuesday against a Harvard University professor accused of lying to authorities about his ties to a China-run recruitment programme and funding he allegedly received from the Chinese government for research. Charles...

IRS ignores wealthy people that failed to pay taxes

The Internal Revenue Service (IRS) is letting hundreds of thousands of high-income individuals duck their tax obligations, according to a government watchdog report. The Treasury Inspector General for Tax Administration found that 879,415 high-income individuals who didn’t file returns cumulatively failed to...

Dozens of U.S firms that received COVID-19 bailouts paid no taxes in 2019, used offshore tax havens

Last month Zagg Inc, a Utah-based company that makes mobile device accessories, received more than $9.4 million in cash from a U.S. government program that has provided emergency loans to millions of businesses hit by the coronavirus. The money was...

Uganda court summons 3 UK law firms for enabling $1.1 billion tax avoidance scheme

The Commercial Court has summoned three United Kingdom-based law firms who were the masterminds of the deal in which Tullow Oil plc avoided paying taxes worth $1.1 billion (about Shs4.1 trillion) to the Ugandan national treasury following an agreement...

Accounting firm tax scam used homeless people as dummy directors, shut down amid probe

An accounting firm at the centre of a massive tax avoidance scheme which exploited homeless and drug-addicted people has had its registration cancelled in the wake of an ABC investigation. Last month the ABC revealed a group of Victorian accountants...

Five Deutsche Bank ex-board members under investigation for tax evasion

Deutsche Bank AG said five former management board members are under investigation for tax evasion, days after the first two bankers were convicted in Germany’s long-running Cum-Ex scandal. The bank disclosed the information in its annual report Friday without identifying...

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Seven Hong Kong bankers arrested for laundering $813 million

Seven current and former Hong Kong bankers were arrested in a series of raids on Tuesday as police moved...
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