North America
North America | 31 Aug 17
US tax workers jailed for using foreign IDs in $5m scam
Three Americans have been convicted of using the stolen identities of foreign nationals to conspire to defraud the US Internal Revenue Service (IRS) of more than $5m (£3.9m, €4.2m) over the course of four years.
Cayman-based Bernie Madoff feeder fund author of own demise
After a 12-week trial, liquidated Cayman Islands investment fund Primeo, which invested with infamous Ponzi scheme Bernard L Madoff Investment Securities (BLMIS), was found to be “to a very substantial degree the author of its own misfortune”, a judge has ruled.
Investors hedge US equity positions
European investors have been responding to this year’s dollar weakness by hedging their investments in US equities, according to Morningstar data.
North America | 25 Aug 17
US rapper faces 44 years in jail for $1.7m tax fraud case
US rapper DMX, facing 44 years jail for a massive tax fraud, has been ordered to check into a rehabilitation facility to seek treatment after violating bail conditions.
North America | 23 Aug 17
US adviser creates alter ego to defraud pro athlete over fees
The US Securities and Exchange Commission (SEC) has charged an adviser with defrauding a professional athlete and his wife by deceiving them about the advisory fees they were paying and making up a person to testify to his goodwill.