Birds Eye
An action for wrongdoing brought forth by the government on behalf of the citizens and the jurisdiction against a person accused of violating the law
What is a criminal action?
Statements sufficiently important or relevant to a reasonable person in acting or making a decision
What is materiality?
A lawful means of lowering one's tax bill through legitimate deductions, credits and shelters.
What is tax avoidance?
A scheme in which the debtor hides assets or other relevant information to harm the creditors' ability to collect payement
What is a concealed assets scheme in a bankruptcy case?
Illicit or stolen assets are deposited into a financial institution or taken out of the country
What us placement stage of money laundering?
Simultaneous criminal and civil actions against the same defendant that are based upon a single set of facts
What is a parallel proceeding?
Employees/agents must act solely in the best interests of their employers/principals without any self-dealing, conflicts of interest, or other abuse of the principals for personal advantage.
What does the fiduciary duty of loyalty require?
An itemized expense subtracted from gross income or assets to reduce the taxpayer's total tax liability
What is a tax deduction?
A planned bankruptcy in which a fraudster orders goods using credit with no intention of repaying the debt and then conceals the proceeds or flees the jurisdiction with them
What is a planned bustout scheme?
A seemingly legitimate business that is used by criminals to launder illicit assets
What is a front business?
Laws based on the usages and customs of a society as interpreted by the judiciary (often referred to a judge-made law)
What is common law?
Individuals in a fiduciary relationship must act with such care an an ordinary prudent person would employ in similar positions
What does the fiduciary duty of care require?
Tax collected from the proceeds of the sale of goods and services
What is a consumption tax?
A scheme in which a debtor attempts to conceal their assets by transferring the assets to another person or company for the purpose of hindering, delaying or defrauding a creditor.
What is a fraudulent conveyance scheme?
A money laundering scheme in which a subject structures a financial deposit into several transactions, each less than the currency transaction reporting threshold in that jurisdiction
What is a structuring/smurfing scheme?
An approach to litigation usually found in common law countries where the parties to the proceeding drive the search for evidence
What is an adversarial judicial system?
The use of a country's mail system to perpetrate fraud
What do mail fraud laws prohibit? OR what is mail fraud?
A consumption tax that is imposed on a narrow class of goods or services (eg tobacco or gasoline) and is usually assessed one time per jurisdiction at the manufacturer or wholesaler level
What is an excise tax?
A type of bankruptcy that involves the liquidation of the debtor's asset's to pay creditors' claims and a discharge of all dischargeable debts
What is liquidation bankruptcy?
The launderer makes advance payments on insurance premiums as a way to store or transfer illicit assets
What is an insurance prepayment scheme?
An element of jurisdiction referring to the physical location where the lawsuit is to be tried
What is venue?
When an individual engages in an act designed to impede or obstruct the investigation or trial of other substantive offences?
What is obstruction of justice?
A country that offers low rates of taxation to corporations and individuals
What is a tax haven?
A type of bankruptcy that reorganizes the debtor's financial affairs and allows it to continue as a going concern.
What is reorganization bankruptcy?
A cryptocurrency featuring a peer-to peer network that allows users to send units of the currency to each other online without the use of a traditional financial institution. John B is a big investor
What is bitcoin?