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Conviction

Cayman National units admit helping U.S. clients evade taxes

Cayman National units admit helping U.S. clients evade taxes

NEW YORK (Reuters) – Two units of Cayman National Corporation Ltd pleaded guilty to U.S. charges on Wednesday as part of a $6 million settlement of an investigation into how the financial services firm helped Americans evade paying taxes.  Click here for the link to the Department of Justice Press Release. Cayman National Securities Ltd […]

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Julius Baer settling U.S. tax case, ex-bankers to plead guilty

Julius Baer settling U.S. tax case, ex-bankers to plead guilty

NEW YORK (Reuters) – Two former Julius Baer bankers are expected to plead guilty on Thursday for helping wealthy American clients evade taxes as U.S. prosecutors unveil a $547 million settlement with the Swiss bank, a person familiar with the matter said. Daniela Casadei and Fabio Frazzetto, former client advisers at Julius Baer, are expected […]

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Credit Suisse granted exemption to continue U.S. pension business

Credit Suisse granted exemption to continue U.S. pension business

NEW YORK (Reuters) – The U.S. Department of Labor on Thursday said it granted Credit Suisse Group AG an exemption from certain restrictions stemming from its guilty plea to helping Americans evade taxes, effectively allowing the bank to continue to manage $2 billion in U.S. retirement money. The Zurich-based bank can keep managing U.S. pension […]

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AdvisorHUB founder sentenced to 18 months in prison for tax evasion

AdvisorHUB founder sentenced to 18 months in prison for tax evasion

NEW YORK (Reuters) – Andrew Parish, founder of broker gossip website AdvisorHUB, was sentenced on Friday to 18 months in prison for not paying federal employment taxes for his workers at a separate business in 2009, according to court filings. Parish, 40, pleaded guilty in May to one count of failing to turn over employment taxes to […]

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Ex-U.S. Representative Grimm gets prison time for tax evasion

Ex-U.S. Representative Grimm gets prison time for tax evasion

NEW YORK (Reuters) – Former U.S. Representative Michael Grimm was sentenced to eight months in prison for felony tax evasion in Brooklyn federal court on Friday, seven months after he pleaded guilty and resigned from Congress. Grimm, a Republican who represented a district in the New York City borough of Staten Island, admitted in December […]

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HSBC Condemns Past Practices As Pressure Grows Over Swiss Accounts

HSBC Condemns Past Practices As Pressure Grows Over Swiss Accounts

LONDON (Reuters) – The head of HSBC’s private bank has told staff past practices that may have allowed some clients to dodge taxes are unacceptable, with the company facing pressure on both sides of the Atlantic over its conduct. HSBC this week admitted failings in compliance and controls in its Swiss private bank and faces […]

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Julius Baer to take $350 million charge as end to U.S. tax probe nears

Julius Baer to take $350 million charge as end to U.S. tax probe nears

ZURICH (Reuters) – Julius Baer said on Tuesday it would book $350 million against first-half results towards an expected settlement in a U.S. criminal investigation into how the Swiss bank helped wealthy Americans dodge taxes. The provision is far less than what most analysts had expected, with some estimates as high as 850 million Swiss […]

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Swiss banks in U.S. criminal probe face longer wait

Swiss banks in U.S. criminal probe face longer wait

ZURICH (Reuters) – A U.S. criminal investigation into how Swiss banks such as Julius Baer allegedly helped wealthy Americans to hide their money is likely to stretch into next year, the U.S. ambassador to Switzerland signalled in a newspaper interview. The criminal probe into a handful of banks has paved the way for a programme […]

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Stay Tuned For More Swiss Bank Deals Over Tax Evasion

Stay Tuned For More Swiss Bank Deals Over Tax Evasion

NEW YORK (Reuters) – More Swiss banks that helped wealthy Americans evade taxes will soon strike agreements with the U.S. Department of Justice to avoid prosecution, an official overseeing the U.S. government program told Reuters. “I would stay tuned,” Acting Assistant Attorney General Caroline Ciraolo of the Justice Department’s Tax Division said in an interview […]

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Tax Return Preparers Convicted of Assisting Wealthy Clients Hide Millions in Secret Offshore Accounts at Israeli Banks

Tax Return Preparers Convicted of Assisting Wealthy Clients Hide Millions in Secret Offshore Accounts at Israeli Banks

As reported in the DOJ Press Release, a federal jury sitting in Los Angeles convicted two California tax return preparers of one count of conspiracy to defraud the Internal Revenue Service (IRS) and two counts  of willfully failing to file a Report of Foreign Bank and Financial Accounts (FBAR) announced Acting Deputy Assistant Attorney General […]

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UBS whistelblower Birkenfeld lodges request for return to Europe

UBS whistelblower Birkenfeld lodges request for return to Europe

FORT LAUDERDALE, Fla./ZURICH (Reuters) – Ex-UBS banker Bradley Birkenfeld, a whistleblower in a tax fraud case involving the Swiss bank for which he was awarded $104 million after serving more than two years in prison, has lodged a request to be allowed to return to Europe. I have attached some pleadings recently filed in the […]

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Avon China Pleads Guilty to Violating the FCPA by Concealing More Than $8 Million in Gifts to Chinese Officials

Avon China Pleads Guilty to Violating the FCPA by Concealing More Than $8 Million in Gifts to Chinese Officials

Avon China Pleads Guilty to Violating the FCPA by Concealing More Than $8 Million in Gifts to Chinese Officials, as reported in the DOJ Press Release. Avon Products Inc. and Avon Products (China) Co. Ltd. Will Pay More than $135 Million in Criminal and Regulatory Penalties Avon Products (China) Co. Ltd. (Avon China), a wholly owned […]

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No more secrets – Swiss banks learn to shape up, not shut up

No more secrets – Swiss banks learn to shape up, not shut up

ZURICH (Reuters) – Switzerland’s allure as a place to stash cash has been badly damaged by a U.S.-led campaign against tax cheats, and the country’s roughly 140 private banks can no longer rely on a reputation for secrecy to attract wealthy customers. To try and compensate for the hundreds of billions of Swiss francs withdrawn […]

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Medical Device Inventor Sentenced to Prison for Tax Fraud – California Man Hid Millions in Bank Accounts in India and Dubai

Medical Device Inventor Sentenced to Prison for Tax Fraud – California Man Hid Millions in Bank Accounts in India and Dubai

Medical Device Inventor Sentenced to Prison for Tax Fraud – California Man Hid Millions in Bank Accounts in India and Dubai, as reported by the DOJ. Ashvin Desai, of San Jose, California, was sentenced yesterday to serve six months in prison and six months and one day of home confinement for concealing more than $8 […]

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September 15, 2014 – Last Day For Category 2 Banks to Disclose – – Offshore Unreported Income

September 15, 2014 – Last Day For Category 2 Banks to Disclose – – Offshore Unreported Income

As widely reported, Banks have been moving and dodging the U.S. Department of Justice and the opportunity to participate in some version of “let’s make a deal,” so the Bank will not be prosecuted criminally or assessed civil penalties.  The latest is the upcoming deadline imposed by the Department of Justice on Category 2 Banks. […]

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Connecticut Man Who Used Offshore Accounts Sentenced to Prison for Tax Evasion and Conspiracy

Connecticut Man Who Used Offshore Accounts Sentenced to Prison for Tax Evasion and Conspiracy

As reported in the DOJ Press Release, John Cote, formerly of Danielson, Connecticut, was sentenced today to serve 46 months in prison by U.S. District Judge Vanessa Bryant, the Justice Department and the Internal Revenue Service (IRS) announced.  Cote was convicted in January 2014 of four counts of tax evasion along with conspiracy to defraud […]

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Ex-Casino Owner, Nevada Businessman and Former National Football League Player Found Guilty in Massive Tax Fraud Scheme

Ex-Casino Owner, Nevada Businessman and Former National Football League Player Found Guilty in Massive Tax Fraud Scheme

As announced in the DOJ Press Release, a Las Vegas jury returned guilty verdicts yesterday against Alan Rodrigues, a former casino owner from Henderson, Nevada, Weston Coolidge, a former businessman from Las Vegas, and Joseph Prokop, a former National Football League punter from Upland, California, for conspiracy and fraud related to their promotion of a […]

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Former Jenkens & Gilchrist Attorney Sentenced In Manhattan Federal Court To 15 Years In Prison For Orchestrating Multibillion-Dollar Criminal Tax Fraud Scheme

Former Jenkens & Gilchrist Attorney Sentenced In Manhattan Federal Court To 15 Years In Prison For Orchestrating Multibillion-Dollar Criminal Tax Fraud Scheme

Former Jenkens & Gilchrist Attorney Sentenced In Manhattan Federal Court To 15 Years In Prison For Orchestrating Multibillion-Dollar Criminal Tax Fraud Scheme, as announced by the DOJ. Paul M. Daugerdas Personally Received More than $95 Million in Fees from Tax Shelter Scheme that Generated Over $7 Billion of Fraudulent Tax Deductions. Preet Bharara, the United […]

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Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation

Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation

Swiss Asset Management Firm and Related Companies Agree to Resolve Criminal Tax Investigation – The Swisspartners Group Is Paying $4.4 Million in Forfeiture and Restitution, as reported by the DOJ. James M. Cole, the Deputy Attorney General of the Department of Justice, Kathryn Keneally, the Assistant Attorney General for the Tax Division of the Department […]

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Tropical Fish Importer Pleads Guilty in New York Federal Court to Piranha Import Violations

Tropical Fish Importer Pleads Guilty in New York Federal Court to Piranha Import Violations

Tropical Fish Importer Pleads Guilty in New York Federal Court to Piranha Import Violations, as announced by the DOJ. Joel Rakower, along with his solely-owned corporation, Transship Discounts Ltd., pleaded guilty today in federal court in Brooklyn, N.Y., to violating the Lacey Act by mislabeling imported piranhas, announced Acting Assistant Attorney General Robert G. Dreher […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney