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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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Ex-Bank Leumi execs to repay part of bonuses after U.S. tax probe

Ex-Bank Leumi execs to repay part of bonuses after U.S. tax probe

Three former senior executives at Bank Leumi will return part of the bonuses they received after Israel’s second largest bank agreed a $400 million settlement with U.S. tax authorities, the company said on Monday.Leumi agreed to make the payment last December to settle two separate investigations into whether it helped American clients, largely in its […]

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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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New York Business Owner Sentenced to Prison for Failure to Pay Employment Taxes

New York Business Owner Sentenced to Prison for Failure to Pay Employment Taxes

A Dix Hills, New York, resident and business owner was sentenced to serve more than one year in prison today in the Eastern District of New York for employment tax fraud, announced Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division. “Business owners that use ‘off the books’ payrolls cheat the […]

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Kentucky Businessman Sentenced in New York Federal Court for $53 Million Tax Scheme and Massive Fraud that Involved Bribery of Bank Officials

Kentucky Businessman Sentenced in New York Federal Court for $53 Million Tax Scheme and Massive Fraud that Involved Bribery of Bank Officials

Acting Assistant Attorney General Caroline D. Ciraolo of the Department of Justice’s Tax Division and U.S. Attorney Preet Bharara of the Southern District of New York announced that a Kentucky businessman was sentenced today to serve 12 years in prison. Wilbur Anthony Huff, 53, of Caneyville and Louisville, Kentucky, was also ordered to pay more […]

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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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Ex-Credit Suisse bankers spared prison in U.S. tax evasion case

Ex-Credit Suisse bankers spared prison in U.S. tax evasion case

WASHINGTON (Reuters) – A U.S. judge on Friday decided not to require prison time for two former Credit Suisse Group AG bankers who pleaded guilty to helping U.S. customers evade taxes by using Swiss accounts. U.S. District Court Judge Gerald Lee sentenced Andreas Bachmann and Josef Dorig to serve five years of unsupervised probation and […]

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Commerzbank Settles Money Laundering Charges For $1.45 Billion

Commerzbank Settles Money Laundering Charges For $1.45 Billion

Commerzbank AG and its U.S. branch agreed to pay a total of $1.45 billion in penalties for laundering $263 million for Iranian and Sudanese companies, the Federal Bureau of Investigation said. The settlement also covers the bank’s role in a separate money laundering scheme tied to accounting fraud at the Japanese camera and electronics maker, […]

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Former Miami-Dade County Employee Sentenced for Tax Evasion

Former Miami-Dade County Employee Sentenced for Tax Evasion

Former Miami-Dade County Employee Sentenced for Tax Evasion, as reported in the DOJ Press Release. A Coral Gables, Florida, resident and former employee of the General Services Administration (GSA) of Miami-Dade County was sentenced to serve 51 months in prison for tax evasion to be followed by three years of supervised release, and ordered to pay […]

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California Investment Manager Sentenced to 225 Months in Prison for $33 Million Fraud Scheme

California Investment Manager Sentenced to 225 Months in Prison for $33 Million Fraud Scheme

California Investment Manager Sentenced to 225 Months in Prison for $33 Million Fraud Scheme, as reported in the DOJ Press Release. A California investment manager was sentenced yesterday to serve 225 months in prison for orchestrating a $33 million Ponzi scheme resulting in $15.2 million in losses to investors. Assistant Attorney General Leslie R. Caldwell […]

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Las Vegas Man Sentenced to Prison for Conspiring to Submit False Federal Income Tax Returns

Las Vegas Man Sentenced to Prison for Conspiring to Submit False Federal Income Tax Returns

As reported in the DOJ press release, a Las Vegas man was sentenced to serve 15 months in prison to be followed by three years of supervised release and ordered to pay $192,632 in restitution to the Internal Revenue Service (IRS), announced Acting Deputy Assistant Attorney General Larry J. Wszalek for the Justice Department’s Tax […]

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Utah Accountant Sentenced for Filing Over $9 Million in False Tax Refund Claims and $300 Million Fictitious Financial Instrument

Utah Accountant Sentenced for Filing Over $9 Million in False Tax Refund Claims and $300 Million Fictitious Financial Instrument

As reported in the DOJ Press Release, a Heber City, Utah, man was sentenced to serve 78 months in prison for filing false claims for income tax refunds and for filing a fictitious financial instrument, announced Acting Deputy Assistant Attorney General Larry J. Wszalek for the Department’s Tax Division and the Internal Revenue Service (IRS). […]

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Former New Jersey Chiropractor Sentenced to Prison for Fraud

Former New Jersey Chiropractor Sentenced to Prison for Fraud

As reported in the DOJ Press Release, a  man formerly of Neptune, New Jersey, was sentenced in the U.S. District Court for the District of New Jersey to serve 54 months in prison to be followed by five years of supervised release, the Justice Department and the Internal Revenue Service (IRS) announced. In February 2014, a […]

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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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Sonoma Resident Sentenced To Two Years In Prison For Filing False Tax Return

Sonoma Resident Sentenced To Two Years In Prison For Filing False Tax Return

Sonoma Resident Sentenced To Two Years In Prison For Filing False Tax Return, as reported by the DOJ. SAN FRANCISCO – Sandra Lynn Vitorelo, AKA Sandra Mathewson, was sentenced yesterday to two years in prison and ordered to pay $91,442 in restitution for failure to report misappropriated funds on tax return, announced U.S. Attorney Melinda […]

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Former Oakland CPA Sentenced To 36 Months In Prison For Preparing False Returns

Former Oakland CPA Sentenced To 36 Months In Prison For Preparing False Returns

Former Oakland CPA Sentenced To 36 Months In Prison For Preparing False Returns, as reported by the DOJ. OAKLAND – Jeffrey Deshon Applewhite, AKA Jeffrey Donald Mason, was sentenced today to 36 months in prison and ordered to pay $9,249 in restitution for assisting in the preparation of false federal income tax returns for clients […]

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Credit Suisse Sentenced for Conspiracy to Help U.S. Taxpayers Hide Offshore Accounts from Internal Revenue Service

Credit Suisse Sentenced for Conspiracy to Help U.S. Taxpayers Hide Offshore Accounts from Internal Revenue Service

Credit Suisse AG was sentenced for conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the Internal Revenue Service (IRS).  Credit Suisse pleaded guilty to conspiracy on May 19.  The sentencing of the Swiss corporation is the result of a years-long investigation by U.S. law enforcement authorities […]

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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