Tax Crime | FinTelegram News

Category: Tax Crime

August 11, 2024

Hunter Biden Accused of Involvement in Romanian Influence Scheme Amidst Ongoing Legal Battles

Hunter Biden, son of U.S. President Joe Biden, faces fresh accusations from federal prosecutors in his ongoing tax evasion case, who allege he accepted payments from a Romanian oligarch seeking to exert influence over U.S. government agencies. The charges form part of a broader legal case against Hunter Biden, who is accused of evading $1.4 million in taxes between 2016 and 2019 while allegedly spending millions on luxury items, drugs, and escorts.

May 18, 2024

Update on Binance Nigeria Case: Executive Denied Bail Over Money Laundering Charges Over Flight Risk!

Working for the crypto exchange Binance may pull you into severe troubles, as shown in the case in Nigeria. Recently, a Nigerian court denied bail to Tigran Gambaryan, the Binance compliance officer facing charges of tax evasion and money laundering. The Federal High Court in Abuja presided over by Judge Emeka Nwite, ruled that Gambaryan, a former IRS special agent, is likely to abscond if released on bail.

May 11, 2024

FinTelegram Update: Binance Executive Seeks US Government Intervention From Nigerian Detention

Tigran Gambaryan, a senior executive at crypto giant Binance, has issued a public plea for assistance from the United States government through a video released from his detention in Nigeria. Gambaryan, the head of financial crime compliance at Binance, confirmed his month-long detention in a video that has gained considerable traction online. The video evidently was recorded in early March 2024 and found its way to X just recently.

May 10, 2024

Binance Nigeria Case: Government Dismisses the Blackmail Allegations; Nadeem Ajawalla to be Extradited!

In a recent development in Nigeria, the national authorities have dismissed claims by Binance's CEO, Richard Teng, regarding alleged demands for a substantial bribe, labeling the accusation as a strategic diversion and an attempt at blackmail. These allegations surfaced amidst severe criminal charges against Binance. Teng had alleged in a blog post that unnamed Nigerian officials sought a $150 million bribe in cryptocurrency to halt an ongoing investigation into the company's activities.

April 5, 2024

Binance Executive Detained in Nigeria Faces Court Over Alleged Tax Evasion and Money Laundering in High-Stakes Legal Drama

The Binance drama in Nigeria continues. In a move that has sent shockwaves through the global crypto market, one of the top executives from Binance, the behemoth of the crypto exchange world, found himself in the docks of an Abuja court this Thursday. The charges? Tax evasion and money laundering—a duo of accusations that spell serious trouble not just for the individuals involved but potentially for Binance's operations within Nigeria and beyond.

November 8, 2023

Italian Tax Authorities Seize €779M From Airbnb In Alleged Unpaid Taxes!

In a significant move, Italy's financial law enforcement agency, the Guardia di Finanza, has reportedly confiscated a massive sum of €779 million from the well-known accommodation-sharing platform Airbnb. The seizure is part of an ongoing investigation into alleged tax evasion by the company. Airbnb has expressed itsnd disappointment at the actions taken and said it's just following EU rules instead.

Tax Crime

October 13, 2023

Impressive: Former Formula 1 Boss Bernie Ecclestone To Pay £653 Million to UK Tax Authority!

Bernie Ecclestone, the ex-head of Formula 1, has been handed a suspended prison sentence after admitting to fraud charges. The 92-year-old failed to disclose over £400 million in a Singapore trust to UK tax officials in 2015. The court was informed that Ecclestone has consented to a civil agreement to pay nearly £653 million to HM Revenue and Customs (HMRC). As a result, he received a 17-month prison sentence, which has been suspended for two years.

June 23, 2023

German Court Issues Arrest Warrant Against Former Steinhoff CEO Markus Jooste!

The Oldenburg Regional Court in Germany has issued an arrest warrant in the trial of the South African national Markus Jooste, the former head of the Steinhoff furniture group, formerly the parent company of the now insolvent Kika and Leiner furniture chains in Austria. South Africa Minister in the Presidency Khumbudzo Ntshavheni said the government had not received an extradition request from German authorities for the disgraced former CEO.

May 30, 2023

German Tax Lawyer Sentenced To 99 Months Prison Time For His Role In The Cum-Ex Scheme!

After the trial, which lasted just under a year, the court considered it proven that the accused tax lawyer Hanno Berger had participated in cum-ex stock deals between 2006 and 2008, which led to unjustified tax refunds of €113 million. He was sentenced to eight years and three months in prison. In 2017, the Attorney General's Office brought charges against Berger and five former Hypovereinsbank employees from London and Munich for serious tax evasion.

April 6, 2023

Opposition Confronts German Chancellor Olaf Scholz With His Involvement In The Cum-Ex Tax Fraud Scheme!

The Cum-Ex scheme was an international big-style tax fraud. Banks, stock traders, and lawyers had obtained billions from European treasuries through suspected fraud and speculation..

April 5, 2023

Dubai Is No Safe haven: Alleged CumEx mastermind in Denmark’s largest tax fraud must be extradited!

After a lengthy legal tug-of-war, the court in Dubai has ruled that Sanjay Shah, the alleged mastermind in the so-called DKK 12.7 billion dividend fraud case, must now be extradited from Dubai to Denmark. This ended a legal tug-of-war that had lasted several years. He and another Briton named Anthony Mark Patterson allegedly unjustly pocketed billions of kroner in dividend tax refunds. Shah faces 12 years in prison if found guilty. He pleaded not guilty.

September 1, 2022

Bitcoin Evangelist Michael Saylor Accused Of $25 Million Tax Fraud Under False Claims Act!

Via Twitter, District Attorney General Karl Racine announced that his authority is suing MicroStrategy co-founder and Executive Chairman Michael Saylor for evading $25 million in district taxes. The complaint alleges that MicroStrategy conspired to help Saylor evade the taxes. Under Saylor's leadership, MicroStrategy spent close to $4 billion acquiring bitcoin at an average price of $30,700, and he has said he considers the company’s stock a sort of bitcoin ETF.

Paxum Bank: The Offshore Bank for the Porn Industry!

Paxum Bank, an offshore financial institution based in Dominica, has found itself at the center of controversy due to its connections with high-risk industries and recent revelations about its relationship with the embattled Tate brothers. Specializing in serving the adult entertainment sector, the bank has become a key player in providing financial services to businesses often shunned by traditional banks. However, this niche focus has also drawn scrutiny from regulators and investigators.

Tate Brothers Case: The Misogynist Influencers Used Offshore Accounts to Launder Proceeds from Sexual Exploitation!

New evidence suggests that the influencer Andrew Tate and his brother Tristan Tate used offshore accounts, including Paxum Bank, to conceal profits from their controversial webcam business. The Tates are facing serious charges, including human trafficking and money laundering. This case highlights the need for robust AML/KYC practices, particularly for payment processors in high-risk sectors like adult entertainment.

UK FCA Charges First Individual for Operating Illegal Crypto ATM Network for Money Laundering!

The UK Financial Conduct Authority (FCA) has charged London-based Olumide Osunkoya with running an illegal crypto ATM network, marking the first case of its kind in the UK. As crypto ATMs are increasingly used for money laundering, the FCA's crackdown on unregistered operators underscores the need for strict regulatory compliance. The ATM scheme allegedly processed £2.6 million in crypto transactions.

Public-Listed Crypto Exchange Coinbase Has to Face Shareholder Lawsuit Over SEC Risks!

U.S. crypto exchange Coinbase must face a shareholder lawsuit accusing it of downplaying regulatory risks, specifically the chances of being sued by the SEC. While a U.S. judge dismissed parts of the case, the key allegation of misrepresenting regulatory risks will proceed. This case underscores the importance of transparency in the crypto sector, where regulatory uncertainties continue to loom large, particularly in the U.S.

U.S. Regulator SEC Charges Seven Public Companies for Violating Whistleblower Protection Rules!

The U.S. Securities and Exchange Commission (SEC) charged seven public U.S. companies with using agreements that restricted employees from reporting securities law violations, resulting in over $3 million in penalties. The SEC takes strict action against organizations and individuals who seek to contractually restrict whistleblowers' rights. The regulator needs insiders to disclose financial wrongdoing and compliance violations.