by Brian Mahany
Many investors believe the government will watch their back and protect them from investment frauds. While most will admit that the government can’t stop every fraud from occurring, few believe that the government itself can be charged with fraud. Think again. Federal regulators from the SEC brought the first ever complaint against a …
Category Archives: Uncategorized
SEC Sues New Jersey for Fraud (or What Happens When the Regulators Break the Law)
Fraudsters Beware - Homestead Exemptions Don’t Always Work
(Asset Protection and Asset Recovery blog post)
by Brian Mahany
Why do so many fraudsters live in Florida? Some would say its 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 lawyers and creditors believe that protection is …
Tax Evasion in China Could Put You in Front of a Firing Squad!
by Brian Mahany
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 risks and …
Are Your Assets Safe in the Isle of Man? Yes.
by Brian Mahany
Situated mid-way between England and the Republic of Ireland sits the small, 227 square mile nation of the Isle of Man. With a population of just 80,000 residents, the Isle of Man is a popular destination for offshore asset protection. A recent statement by the chief executive of the Isle of Man Financial …
Thousands of New Tax Cops Hit the Streets!
by Brian H. Mahany
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 …
Business Owners Beware - Here Comes Another Whistleblower Program
by Brian Mahany
They say the devil is always in the details and that certainly applies to much of the recent financial reform legislation coming from Capitol Hill these days. Jilted lovers and disgruntled employees have reported billions of dollars of unpaid taxes since the IRS revamped it’s whistleblower program. Why have they done so? Congress …
When It Comes To Banking, “Don’t Ask, Don’t Tell” Is The Best Policy (offshore accounts)
by Brian Mahany
Government tax authorities asking banks and credit card companies for information on foreign account holders is hardly news these days. The I.R.S. does it, so do Germany, Britain and many other countries. Officials want to know when their citizens transfer wealth overseas or open foreign accounts. Generally the practice is legal if the …
How Stupid Can They Be? Plenty! (Fraudulent Conveyance Post)
How Stupid Can They Get? Plenty Stupid!
(A discussion of fraudulent conveyances)
by Brian Mahany
It was inevitable - massive fraud in the government’s bailout program from 2008. The U.S. Troubled Assets Relief Program (or “TARP”) had it’s first major arrest. Charles Antonucci, former head of New York’s Park Avenue Bank, was indicted for fraud, embezzlement and misappropriation. …
Clawbacks - Latest Tool in Fraud and Asset Recovery
Clawbacks! Friend or Foe - you decide.
by Brian Mahany
The term “clawback” is relatively new. In fact, you won’t find it in most dictionaries and even the on-line Wiktionary is quite vague in its definition; “Any recovery of a performance related payment based on discovery that the performance was not genuine.” But ask the victim or …
Send In the Clowns (Asset Recovery & Protection)
by Brian Mahany
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 …