Criminal Tax Law: Why You Should Enlist a Lawyer and Not Go It Alone

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    A university professor recently pleaded guilty to under-reporting taxes, but the alternative could have been much worse. The case illustrates the wisdom of working with a criminal tax attorney if the IRS accuses you of wrongdoing.

    Criminal Tax Case Background: Allegations of Fraud

    The Accused: Edward S. Adams, a law professor at the University of Minnesota

    The Claimant: U.S. Internal Revenue Service

    The Claims: Adams allegedly acquired over $4 million from investors of Apollo Diamond and Apollo Gemstone Corp., two companies with which Adams was financially linked, and paid about $2.5 million to his law firm. According to the IRS, Adams supposedly misled investors about the trajectory of their money. Also, according to the IRS, Adams allegedly used offside tactics to persuade investors to convert their stock into a new company with ties to Adams.

    Charges: Initially, Adams faced a 14-count embezzlement indictment and criminal tax changes.

    Criminal Tax Case Settlement: Pleading Down

    In the end, Adams pleaded to the misdemeanor crime of under-reporting $596,000 worth of stock sales. The judge set sentencing for January. And thanks to Minnesota’s sentencing guidelines, Adams will likely avoid jail.

    It’s unclear whether or not he’ll keep his job. The university will only say that “his status will be reviewed in accordance with University policies and procedures.”

    That Adams was able to significantly plead down his sentence is a testament to good lawyering. It’s a reminder that having a skilled attorney on your side almost always results in a more favorable outcome.

    Criminal Tax Law: It’s Wise to Work with a Criminal Tax Lawyer

    If Mr. Adams didn’t work with an attorney, his case probably would’ve ended differently. It’s tempting to represent yourself, but if you want to secure the best possible outcome, work with a criminal tax attorney. They know the legal nooks, crannies, and loopholes you need.

    Our team of criminal tax lawyers helps people and businesses accused of tax malfeasance, including evasion, fraud, under-reporting, and more. We’re discreet, knowledgeable, and networked.

    If the IRS or state regulator is on your back, get in touch today. Let’s start exploring your options.

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