Investment Advisor and Attorney Sentenced for Overseas Money Laundering

The Department of Justice issued a press release detailing the sentencing of two Caribbean-based professionals, an investment advisor and an attorney, for laundering money through undisclosed offshore accounts.

As this latest release from the Department of Justice indicates, the focus on the use of undisclosed offshore accounts whether it be for tax evasion or money laundering is the highest priority action-item for the Tax Division and the IRS. Those taxpayers that continue to avoid compliance, deemed “ostrich taxpayers” by the IRS, should come forward immediately and disclose accounts through one of the various IRS programs.

Direct Quote Tax Division: “The sentences imposed by the court today show that those who use offshore accounts and entities for money laundering and tax evasion will be punished,” said Deputy Assistant Attorney General Ronald A. Cimino for the Justice Department’s Tax Division.

Direct Quote IRS Criminal Investigations: “Today’s sentencings close the door on a business built on skirting the law,” said Chief of IRS-Criminal Investigation Richard Weber. “This investigation reinforces our commitment to investigate and prosecute criminals worldwide who conduct illegal financial transactions, launder money or attempt to conceal the true source of their income in order to evade paying taxes. This should send a clear message to those involved in this type of crime-we will find you.”

About Five Stone Tax Advisers

Five Stone Tax Advisers has years of experience negotiating directly with the IRS to get the best possible outcome for you. Our International Tax Advisory and Compliance unit has a team of tax attorneys, certified public accountants and enrolled agents that form a single sourced point of contact that will provide services for all the legal, compliance and financial reconstruction aspects of these cases.

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Five Stone Tax
by Five Stone Tax

Five Stone Tax is America’s trusted tax adviser, offering full-service tax solutions with the goal of making sure all of our clients pay the lowest amount of taxes legally possible. As the most effective tax representation company in America, our team consists of the best Tax Attorneys, Enrolled Agents, case managers, and administrators in the industry.

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