Ponzi is Not the Dude on Happy Days – Fraud in the Marketplace

A few years ago I was asked to be an expert witness on a federal court case involving several management members of an investment firm, which I will call Big Scheme (“BS” for short). BS was selling interests in foreign mortgage products. At least that’s what BS was marketing to unsuspecting investors in the U.S. …

Keep Reading

Family Limited Partnership Failures

We see a lot of tax cases about family limited partnerships (FLPs) and family limited liability companies (FLLCs) that have bad facts that ultimately lead to the loss of any valuation adjustments for estate and gift tax purposes (e.g., discounts for lack of control or lack of marketability). Some of the more common “bad facts” …

Keep Reading

Key Person

We often think of key people with admiration. If it weren’t for them, your business certainly wouldn’t be what it is today. First, what is a key person? A key person is someone, who if they resigned, died, or became disabled, could not be readily replaced and the loss would negatively affect your business. While many …

Keep Reading