Monday, June 17, 2019

Covering Assets

In today’s “Fraud of the Day,” a Las Vegas, Nevada man tried to guard against the legal ramifications of hiding more than $3 million dollars in assets from the Internal Revenue Service (IRS). Read on to find out how his tax fraud scheme and his hidden...

Engineering Fraud

Criminals go to great lengths to engineer fraud schemes that are undetectable. The owner of a Honolulu, Hawaii-based engineering services firm and his accountant carried out what they thought to be a well-designed plan to divert money that was intended for federal employment and income taxes...

Faker

Not to be an alarmist, but if you somehow forgot to file your 2018 Income Tax Return, you’ve got until 11:59:59 pm tonight. If you need more time, visit the IRS website here to find out how to file  an extension. (Just a suggestion – don’t...

No Matter How You Slice It

According to the 2018 Pizza Power Report, the U.S. pizza market is worth $45.1 billion, with about $18.5 billion in revenue coming from independent operators. (As you might guess, competition is steep between the 75,243 pizzerias located across the nation.) The report also mentions that in 2017,...

A Different Kind of Bank Robber

Not all bank robbers wear a black ski mask and enter through the front doors toting a firearm. Some operate smugly from within the walls of a financial institution, concealing that they are diligently transferring funds to bank accounts they manage. Today’s fraudster is a former...

Paranoia

Just the mention of “Internal Revenue Service (IRS)” or “taxes” in general is enough to cause paranoia in some individuals. Then, consider the fake robocalls that often trick consumers into paying money to the agency via credit card or wire transfer. (Just so you know, the...

Help Yourself

There are several places where it’s ok to help yourself. For example, at an “All You Can Eat Buffet,” it’s ok to fill your plate as many times as you’d like as long as you pay for it. While staying at a hotel, travelers can...

No Laughing Matter

The Friars Club is a private institution in Manhattan, New York known for uproarious roasts and celebrity events for its members who are well-known in the entertainment industry. (Famous members include the likes of Frank Sinatra, Jack Benny and Lucille Ball as well as current entertainers...

The Bottom Line

The term “bottom line” generally refers to the last line of a financial statement that reveals whether an organization is making a profit or loss. It can also describe the most important thing that should be considered. The bottom line of today’s fraud article...

Investigating the Investigator

The job of an Internal Revenue Service (IRS) Criminal Investigator is to pursue individuals who break the tax law. So, it is ironic that a Sacramento, California woman, who worked for the IRS Criminal Investigation Division as an investigator, found herself being pursued by...
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