On Jan. 27, it was reported that two men were facing charges after they were accused of scamming wealthy individuals who were interested in investing in New York ticket businesses. According to the report, authorities stated that the men enticed more than a dozen individuals to invest $81 million in the ticket businesses.
New York residents may be interested in learning that Alanis Morissette’s entertainment manager embezzled $4.8 million from her. He also admitted to embezzling about $2 million more from two other clients who were not named.
The former head of an energy service company pleaded guilty to misappropriating $18.5 million in taxable profits to invest them in a mining operation in the Congo Republic. On Jan. 4, 2017, the man agreed to pay $670,000 as restitution for New York state taxes he evaded in 2006, 2007 and 2008. He also admitted to state felony charges of offering a false instrument of filing and tax fraud.
The former head of an energy service company pleaded guilty to misappropriating $18.5 million in taxable profits to invest them in a mining operation in the Congo Republic. On Jan. 4, 2017, the man agreed to pay $670,000 as restitution for New York state taxes he evaded in 2006, 2007 and 2008. He also admitted to state felony charges of offering a false instrument of filing and tax fraud.
A settlement was reached in a civil fraud lawsuit that was filed against a medical practice with several offices in New York. On Oct. 21, the U.S. Attorney for the Southern District of New York announced that Hudson Valley Hematology Oncology Associates would pay $5.31 million and admit to misconduct. The medical practice has offices in Yorktown, Hawthorne, Poughkeepsie, Carmel, Mount Kisco and Fishkill.
New York residents are likely familiar with the concept of white-collar crime that involves fraud by those in the business or financial sectors. One type of white-collar crime is securities and commodities fraud, and this involves various schemes related to investments and the stock market.
You may wonder why you should care about money laundering. The fact is having a basic understanding of white collar crimes is beneficial to everyone. This includes entrepreneurs aiming to set up a successful business endeavor and associates within a business working to build their career. Regardless of your status in the business world, having a basic understanding of these crimes can help you to ensure you are not balancing too closely to the edge between legal and illegal practices.
The collapse of New York-based Lehman Brothers in September 2008 triggered a financial crisis that threatened the very survival of the world’s capital markets, and experts, journalists, politicians and everyday Americans reacted angrily in the aftermath when it became clear that not a single Wall Street executive would be prosecuted. Some pundits claimed that the lack of prosecutorial action was a sign that the whole financial system was rigged, but the federal prosecutor who led the Enron investigation believes that no fraud actually took place.
According to an indictment that was filed in Manhattan on June 28, three men were charged for allegedly defrauding investors in films in what has been termed as an advanced-fee scheme. All three were taken into custody after the indictment was handed down.
New York residents may be aware that the reality television celebrity Abby Lee Miller has been accused of hiding assets and making false declarations during her Chapter 11 bankruptcy. The ‘Dance Moms” star is alleged to have kept $775,000 of income she earned for her role on the popular Lifetime Channel show away from her creditors. Media sources reported on June 27 that the 50-year-old television personality had entered pleas of guilty to charges that she structured financial transactions to conceal assets.