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Forfeiture Posts
Playing with House Money
May 15, 2023
Playing with House Money
Just as the walls seemed to be closing in on young entrepreneur Charlie Javice, a bit of offense has left her opponent, JPMorgan, in an entirely uncomfortable position largely of its own making. Javice founded a college loan planning entity called Frank, that appeared to be doing so well that JP Morgan bought it in…
Good News: The Feds Can’t Freeze Your Assets to Stop You from Hiring a Lawyer
Apr 15, 2016
Good News: The Feds Can’t Freeze Your Assets to Stop You from Hiring a Lawyer
Republished with permission from FEE.org, originally published April 12, 2016 There are limits to what the government can take from you. The Supreme Court recently ruled that the Constitution forbids the government from freezing a defendant’s “untainted” assets in advance of prosecution. The ruling is a significant victory for those caught in the government’s crosshairs. It…
More Money, More Problems – Another Billion Dollar Settlement for the DOJ
Sep 10, 2014
More Money, More Problems – Another Billion Dollar Settlement for the DOJ
This summer BNP Paribas, one of the five largest banks in the world, agreed to a $9 billion settlement with the U.S. Department of Justice. The settlement figure may seem nothing short of economic shock and awe; indeed it was the largest criminal penalty in U.S. history. What could justify such a staggering fine and…
The Taxman Cometh for US Holders of Foreign Bank Accounts
May 22, 2014
The Taxman Cometh for US Holders of Foreign Bank Accounts
U.S. citizens and residents with unreported assets abroad may be feeling a steady increase of pressure these days. The July 1, 2014 effective date of the Foreign Assets Tax Compliance Act (FATCA) is looming. The number of countries that have agreed to enforce FATCA is growing (almost daily). That means the banks in those countries…