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Money laundering

IRS Explains Its New Position On Civil Forfeiture In Structuring Cases

IRS Explains Its New Position On Civil Forfeiture In Structuring Cases

IRS Commissioner John Koskinen, testifying before the House Committee on Ways and Means Subcommittee on Oversight on Financial Transaction Structuring, has explained IRS’s new policy (first announced in October of 2014) under which it will no longer pursue the seizure and forfeiture of funds associated solely with “legal source” structuring cases (i.e., where the funds […]

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Commerzbank AG Admits to Sanctions and Bank Secrecy Violations, Agrees to Forfeit $563 Million and Pay $79 Million Fine

Commerzbank AG Admits to Sanctions and Bank Secrecy Violations, Agrees to Forfeit $563 Million and Pay $79 Million Fine

As announced in the DOJ Press Release, Commerzbank AG, a global financial institution headquartered in Frankfurt, Germany, and its U.S. branch, Commerzbank AG New York Branch (Commerz New York), have agreed to forfeit $563 million, pay a $79 million fine and enter into a deferred prosecution agreement with the Justice Department for violations of the […]

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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 Fresno Business CFO Charged with Embezzling and Money Laundering

Former Fresno Business CFO Charged with Embezzling and Money Laundering

Former Fresno Business CFO Charged with Embezzling and Money Laundering, as reported by the DOJ. FRESNO, Calif. — Anthony Lester, 51, of Fresno, was indicted today by a federal grand jury, charging him with mail fraud and money laundering, United States Attorney Benjamin B. Wagner announced. According to court documents, Lester was the controller at […]

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Three Plead Guilty to Bank Secrecy Act Violations in Connection with Check Cashing Scheme

Three Plead Guilty to Bank Secrecy Act Violations in Connection with Check Cashing Scheme

Three Plead Guilty to Bank Secrecy Act Violations in Connection with Check Cashing Scheme, as reported by the DOJ. Three men have pleaded guilty in Brooklyn, N.Y., for their roles in a check cashing scheme designed to evade anti-money laundering reporting requirements, announced Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division […]

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Frontman in Rock Band Sentenced to 7 years in Federal Prison after Pleading Guilty in Multi-Million Dollar Loan Fraud Case

Frontman in Rock Band Sentenced to 7 years in Federal Prison after Pleading Guilty in Multi-Million Dollar Loan Fraud Case

Frontman in Rock Band Sentenced to 7 years in Federal Prison after Pleading Guilty in Multi-Million Dollar Loan Fraud Case as announced by the DOJ Press Release. This announcement caught my eye and I pulled, from PACER, some of the court filings, to wit, the Sentencing Memorandum for the Defendant, the Government’s Combined Position re […]

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Two Plead Guilty to Money Laundering Conspiracy in $10.5 Million Medicare Fraud Scheme

Two Plead Guilty to Money Laundering Conspiracy in $10.5 Million Medicare Fraud Scheme

As reported in the DOJ Press Release, Two Plead Guilty to Money Laundering Conspiracy in $10.5 Million Medicare Fraud Scheme, two men from Miami have pleaded guilty to laundering millions of dollars obtained through a $10.5 million Medicare fraud scheme using shell companies they controlled. Acting Assistant Attorney General Mythili Raman of the Justice Department’s […]

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Alabama Tax Return Preparers and 19 Foreign Nationals Charged with Conspiring to Defraud the United States, Identity Theft and Money Laundering

Alabama Tax Return Preparers and 19 Foreign Nationals Charged with Conspiring to Defraud the United States, Identity Theft and Money Laundering

As reported in the DOJ Press Release,the Justice Department announced that a 14-count superseding indictment was unsealed, charging JB Tax Professional Services Inc., Jacqueline J. Arias and Jose Bayron Estrada, of Spruce Pine, Ala., along with 19 foreign nationals, many of whom resided in the New Orleans area, with conspiracy to defraud the United States […]

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U.S. wants to seize assets tied to Russian tax refund scheme

U.S. wants to seize assets tied to Russian tax refund scheme

As reported in the news in Reuters, New York, Sept 10 (Reuters) – U.S. authorities are looking to seize luxury apartments and other property that they say was used by Russian companies to launder proceeds from a $230 million tax fraud. The scheme was uncovered by Sergei Magnitsky, a lawyer who died in a Russian […]

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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