The more assets you handle, the more complicated your tax returns get. If you are under investigation or facing charges of tax evasion, it is crucial to take immediate steps to protect yourself and your reputation.
In any criminal case, it is up to the government to provide evidence supporting each and every element of every charge. Most people have heard the term "burden of proof" and know that, in criminal cases, prosecutors must present relevant, reliable evidence proving the truth of the charges beyond a reasonable doubt. The latter is referred to as the standard of proof.
Raoul Weil, former Chairman and Chief Executive Officer of Global Wealth Management & Business Banking, received good news last week when he was found not guilty of conspiracy to commit tax fraud. Those charges were connected to accusations that the company was involved in tax evasion by helping its clients hide billions of dollars in offshore accounts.
There are many people across Florida who have visited a psychic, had their palms read or flipped over a Tarot card or two. Many people would agree that the legitimacy of these practices is only as real as a person believes them to be. Proving that a psychic prediction or vision is accurate can be quite subjective; but proving that a psychic defrauded clients out of money is a process that requires facts and evidence.
Federal prosecutors have indicted a Fort Lauderdale psychic advisor on 15 counts of conspiracy, fraud, money laundering and tax offenses, even after two prior attempts to charge her were rejected by federal magistrates and criticized as "shameful" and "slipshod." Prosecutors were forced to drop several federal charges and reduce the alleged financial losses -- and the remaining case could be tainted by the main complainant's close ties to police and a reasonable claim of anti-Roma bias.
Tax Day came and went yesterday, which means many in Florida are likely breathing a sigh of relief, having filed their returns. While some are waiting for hefty refunds - or just celebrating being settled up for the year - others may not be so lucky. Sometimes deadlines slip through the cracks and the consequences can be serious.
Last week we discussed the popularity of tax refund fraud in Florida and efforts by state law enforcement officials to combat fraudulent tax returns. Those crimes are also being fought on a federal law.