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Criminal

Administrative judge’s decision against ex-nursing home executive set for review

Administrative judge’s decision against ex-nursing home executive set for review

The SEC plans to review an administrative judge’s initial decision against Laurie Bebo, the former CEO of nursing home operator Assisted Living Concepts. Bebo in October was ordered to pay $4.2 million and hit with other sanctions for accounting and disclosure violations that included a scheme to falsify occupancy rates at the company’s facilities. The […]

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Texas tycoon Wyly engaged in massive tax fraud, IRS tells court

Texas tycoon Wyly engaged in massive tax fraud, IRS tells court

DALLAS (Reuters) – Texas tycoon Sam Wyly engaged in “lies, deception and fraud” in a years-long scheme to dodge taxes on $1.1 billion held in offshore trusts, a lawyer for the Internal Revenue Service said on Wednesday. The IRS made those claims at the start of a trial in federal bankruptcy court in Dallas in […]

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UBS charged with disclosure violations in sales of structured notes

UBS charged with disclosure violations in sales of structured notes

UBS AG will pay $19.5 million to settle an SEC complaint that it misled investors in its sales of structured notes, marking the first such charges to be brought by the commission. The Swiss bank is one of the largest issuers of structured notes, which are hybrid financial products that include both a debt security […]

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U.S. manufacturer subject to multiple agency investigations over Swiss tax strategy

U.S. manufacturer subject to multiple agency investigations over Swiss tax strategy

In a form filed with the Securities and Exchange Commission (SEC), Caterpillar Inc., which last year was the subject of a Senate hearing on multinationals shifting profits out of the U.S., revealed that numerous investigations by the Justice Department, IRS, and SEC were ongoing with respect to its tax strategies and overall business structure.According to […]

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SEC Obtains Asset Freeze in Ponzi Scheme Involving Loans to Professional Athletes

SEC Obtains Asset Freeze in Ponzi Scheme Involving Loans to Professional Athletes

The Securities and Exchange Commission announced fraud charges against a former professional football player and others, alleging they operated a Ponzi scheme that raised more than $31 million from investors who were promised profits from loans to professional athletes. Click here for the press release. The SEC’s complaint was unsealed.  It was filed under seal […]

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Auditors Continued to Mishandle Internal Control Reviews in 2014

Auditors Continued to Mishandle Internal Control Reviews in 2014

Helen Munter, the director of the PCAOB’s Division of Registration and Inspections, said audit firms are still having problems when they review clients’ financial reporting controls. Some firms have addressed the issue, and audit regulators have noted some improvement. But the firms still have more work to do to fully address the problems. The PCAOB’s […]

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Fund Manager Charged with Diverting Investor Money to Side Business

Fund Manager Charged with Diverting Investor Money to Side Business

The SEC Enforcement Division alleged that VERO Capital Management LLC and three executives funneled $4.4 million in investor money into a subsidiary while hiding their actions from investors. The firm was also accused of failing to properly safeguard client assets. The SEC accused a New York fund manager and three of its executives on December […]

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SEC Charges Offshore Business and Two Individuals Behind Scheme to Conceal Ownership of Microcap Stocks

SEC Charges Offshore Business and Two Individuals Behind Scheme to Conceal Ownership of Microcap Stocks

As reported by the SEC, “SEC Charges Offshore Business and Two Individuals Behind Scheme to Conceal Ownership of Microcap Stocks.” FOR IMMEDIATE RELEASE 2014-189 Washington D.C., Sept. 9, 2014 — The Securities and Exchange Commission today charged two individuals managing an offshore business intended to help clients evade U.S. securities laws with concealing the ownership […]

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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