Word: fraud
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...identical twins Hassan and Abbas O. (under German law they cannot be named in full). The unemployed and Lebanese-born brothers have lived in the northern German state of Lower Saxony since age 1 but still have not been granted permanent residency. They have criminal records for theft and fraud. (See pictures of the annual Twins Days festival...
...elements of the IRS's guidance focus on investors being entitled to a theft loss deductible in the year the fraud is discovered, except to the extent there is a claim with a reasonable prospect of recovery...
...three times in connection with sex offenses - he was never charged in the cases of attempted rape and public exposure, but he served a sentence for a rape conviction in the late 1960s. (He was also acquitted for lack of evidence on a charge of arson related to insurance fraud in the 1980s.) Yet when Fritzl told police that his daughter had joined a cult, they apparently believed him, despite the fact that he was a convicted sex offender and that there was no evidence that such a cult was operating in Austria. Fritzl also claimed that the three children...
...always the first go-to place for financial-fraud survivors trying to recoup lost money. But with the April 15 tax clock ticking, figuring out what to do about recovery, both from taxes and from the Securities Investor Protection Corp. (SPIC), has become a mind-boggling maze for accountants and their Ponzi-victim clients. At a hearing yesterday, Madoff pleaded guilty to his decades-long crime, was handcuffed and ordered to jail. Sentencing is scheduled for June, but he could potentially be sentenced to 150 years on 11 counts. (Read "The Madoff Hearing: A Guilty Plea, but No Catharsis...
There's no unanimity about what to do in regard to Ponzi and other fraud recovery when it comes to taxes. Ponzi survivors are getting a litany of mixed signals from bulletins, tax-adviser reports, panel discussions and the Web. And to make matters worse, many of those trying to get their tax returns in quickly are being slow-danced by their former feeder-fund managers, who, under advisement, have been slow in sending out amended statements, or K-1s; they have until Oct. 15, the final deadline for 2008 filings. (See a TIME video from outside the courthouse...