Wednesday, December 2

Tag: tax fraud

CBN Freeze Adebutu Kessington’s Bank Accounts For “Tax Fraud”
Business

CBN Freeze Adebutu Kessington’s Bank Accounts For “Tax Fraud”

The move by the apex bank comes months after the Economic and Financial Crimes Commission launched an investigation into the activities of Adebutu for alleged tax fraud and economic sabotage. The Central Bank of Nigeria has frozen the bank accounts of 38 Nigerian companies. This is as scarcity of dollars at the parallel market during the week forced the naira down to N465 against a United States dollar. Nigeria is presently facing one of its biggest dollar crunch in recent years with the impact hurting critical sectors of the economy. In a circular dated September 4, Bello Hassan, CBN’s Director of Banking Supervision, asked banks to place the accounts of the 38 companies on Post-No-Debit (PND) order “You are hereby required to place the under listed accounts on Post-No-Debi...
Ex-Chelsea Striker, Diego Costa Handed 6-month Prison Sentence and Slapped with £482k Fine by Spanish Authorities in Tax Fraud Case
Sport

Ex-Chelsea Striker, Diego Costa Handed 6-month Prison Sentence and Slapped with £482k Fine by Spanish Authorities in Tax Fraud Case

Former Chelsea striker, Diego Costa made an appearance at a Madrid court on Thursday to ratify a deal he made with Spanish prosecutors to resolve a tax fraud case against him. According to AS, Costa was handed a six-month prison sentence, which he will not serve, and a total fine of €543,000 (£482,000) after the Atletico Madrid striker defrauded the Spanish state of more than €1m (£900,000) in 2014. In a court filing published last month, the 31-year-old did not declare payments of just over €5m (£4.4m) from his 2014 transfer from Atletico to Chelsea in his tax return, as well as more than €1m (£900,000) in image rights. Due to the fact that Spanish law allows penal sentences below two years for non-violent crimes to be exchanged for a financial penalty, Costa agreed to pa...
Messi Reveals why he Almost Dumped Barcelona
Sport

Messi Reveals why he Almost Dumped Barcelona

Barcelona captain, Lionel Messi, has admitted he almost left the club in 2016, because of the scrutiny on him amid a tax row with Spanish government. In an interview with radio station RAC1, Messi claimed he and his father were being ‘mistreated’. The two men were found guilty of tax fraud and handed a 21-month suspended prison sentence. However, Messi appealed the verdict in 2017 and it was eventually changed to a £223,000 fine. Jorge’s sentence was also changed from 15 months in prison to a €180,000 fine. “At that time, with the mess of the treasury, I wanted to leave, not for wanting to leave Barca but wanting to leave Spain. “I felt that I was being very mistreated and I didn’t want to stay here. I never had an official offer because everyone...
Meet Rui Pinto, The 30-Year-Old Who Exposed Manchester City
Sport

Meet Rui Pinto, The 30-Year-Old Who Exposed Manchester City

Football Leaks hacker Rui Pinto - the man who exposed Manchester City's breaking of Financial Fair Play rules - remains in prison awaiting a court case. Pinto hacked his way into club emails from his Portugal home in 2015 and then passed them on to the media and sparked the investigation into City's finances. Despite being widely praised by the football world, Pinto was arrested and sent to prison, and will face a trial for 90 different counts of hacking, sabotage and fraud. Pinto was denied an appeal on Thursday and has been in jail since last March, while awaiting a verdict by the Lisbon Court of Appeal. News of UEFA's decision to ban City from the Champions League for the next two seasons saw Pinto's name start trending with the hashtag #freePinto on Friday night. Borus...
EFCC Investigating Kessington Adebutu ‘Baba Ijebu’ Over Tax Fraud
News

EFCC Investigating Kessington Adebutu ‘Baba Ijebu’ Over Tax Fraud

Kessington Adebutu, Nigeria’s gambling mogul whose business empire has enjoyed decades of patronage as a household name across the country, has become a new target of a vast corruption investigation by the Economic and Financial Crimes Commission (EFCC), PREMIUM TIMES can report. As part of the investigation on Tuesday, anti-graft detectives at the EFCC office in Lagos detained and questioned Segun Adebutu, son of the octogenarian, questioning him on matters ranging from alleged tax fraud to economic sabotage, sources familiar with the development told PREMIUM TIMES. Anti-graft officials said Mr Adebutu’s business activities recently became a subject of their suspicion following a petition from another betting company, Western Lotto. The December 2019 petition from Western Lotto,...
Nigerian Man Exposed In The USA, Sent To Jail Over $12 Million Tax Fraud
News

Nigerian Man Exposed In The USA, Sent To Jail Over $12 Million Tax Fraud

A Nigerian man, Babatunde Olusegun Taiwo, has been sentenced to four years in prison for stealing the identities of US citizens to file fraudulent tax return claims, made possible through data leaked in security incidents, The Guardian reports. The US Department of Justice (DoJ) in a statement said Taiwo, alongside co-conspirators including Kevin Williams, used the personal identifying information (PII) of individuals leaked due to a data breach at a payroll company to file false returns with the US Internal Revenue Service (IRS). DoJ said Taiwo and his co-conspirators filed more than 2,000 fraudulent tax returns that claimed more than $12 million in refunds, of which the IRS paid out $889,712. “The Department remains committed to prosecuting those who use stolen identities to steal ...
Ex-Liverpool And Real Madrid Star Xabi Alonso Acquitted Of Tax Fraud In Spain
Sport

Ex-Liverpool And Real Madrid Star Xabi Alonso Acquitted Of Tax Fraud In Spain

Former Liverpool and Real Madrid midfielder, Xabi Alonso has been acquitted of tax fraud in Spain. The Spainaird, 38, and current coach of Segunda División B club Real Sociedad B was tried for three counts of tax fraud state prosecutors said he had committed between 2010 and 2012. He was playing for Real Madrid at the time. According to prosecutors, the case revolved around nearly £2million Alonso evaded in tax from image rights. But the former footballer repeatedly protested his innocence and even decided to go to trial instead of paying the Spanish Treasury the tax it was claiming plus fines. His trial ended last month and he was facing two and a half years in prison after state prosecutors lowered their initial demand that he will be jailed for 5- years. On Tuesday, Nove...
Lionel Messi Wanted To Leave Barca During His Tax Fraud, No Club Offered A Deal
Sport

Lionel Messi Wanted To Leave Barca During His Tax Fraud, No Club Offered A Deal

Lionel Messi wanted to leave Barcelona in the midst of his case for tax fraud, he has revealed, but remained at the Nou Camp when no offers came forward. Messi and his father were both found guilty of tax fraud in July 2016 and were handed suspended 21-month prison sentences and the forward ordered to pay a 1.7million Euro fine. Messi believes his reputation as a one-club player ultimately dissauded clubs from making an approach. “At that time, with the government mess, I wanted to leave, not for wanting to leave Barca but wanting to leave Spain,” Messi told Catalonian broadcaster RAC1. “I felt that I was being very mistreated and I didn’t want to stay here. I never had an official offer because everyone knew my idea to stay here.” “It was very difficult for me and my family ...
Nigeria Accounts For Bulk Of Africa’s $90 Billion Stashed Assets – ICPC
News

Nigeria Accounts For Bulk Of Africa’s $90 Billion Stashed Assets – ICPC

The Independent Corrupt Practices and other Related Offences Commission (ICPC) has said Nigeria accounts for the bulk of Africa’s $90 billion assets stashed abroad yearly. It regretted that the continent never received the same amount in aid from development partners in 12 months.ICPC Chairman, Prof. Bolaji Owosanoye, at an African Union (AU) event in Bauchi, lamented that the citizens suffer one denial or the other on account of graft. Represented by the ICPC commissioner in the state, Abubakar Dutsinma, he said tax fraud and illicit financial flow investigations were also being conducted by the commission as well as prosecution of corruption and money laundering. He hinted that efforts were geared towards the recovery of stolen wealth for Nigeria’s transformation. The ICPC boss...
Court Orders Jay Jay Okocha’s Arrest Over Tax Fraud
Sport

Court Orders Jay Jay Okocha’s Arrest Over Tax Fraud

A court has ordered the arrest of former Super Eagles star, Austin Okocha, over tax evasion charges. This was ordered by the Lagos Division of the Lagos State High Court in Igbosere. Jay Jay Okocha has repeatedly failed to appear before the court to answer why he allegedly failed to pay his income taxes. Premiumtimes reports that Adedayo Akintoye, the judge, issued the warrant for the arrest of the former Eagles captain on January 29 and thereafter adjourned until February 19. However, on February 19, the prosecution had not effected the arrest forcing the judge to, again, adjourn till April 15 and ordered that the warrant is executed by then. The football star is facing a three-count charge instituted by the Lagos State Ministry of Justice bordering on failure to furnis...
Bonang Matheba Tax Fraud Case Struck Off The Roll, Admission Of Guilt Fine Paid
Lifestyle

Bonang Matheba Tax Fraud Case Struck Off The Roll, Admission Of Guilt Fine Paid

The tax fraud case against Bonang Matheba has on Tuesday morning been struck off the roll at the Johannesburg Specialised Commercial Crimes Court, after she paid an admission of guilt fine of R30,000. Bonang had been charged for not paying personal tax from 2008 - 2017 and company tax from 2014 - 2017. The state prosecutor informed the court that Bonang had paid an admission of guilt fine and therefore they were requesting that the matter be removed from the court. The request was granted by the judge. The charge sheet, seen by TshisaLIVE states that Bonang paid the amount of R30,000 at the court on Monday as part of her admission of guilt. R22,000 was paid for personal taxes not filed and R8,000 for company taxes, listed under Bonang Matheba Entertainment (Pty) Ltd. Several...
Bonang Matheba Hires New Team Amid R10m Tax Fraud Lawsuit
Scandals and Rumours

Bonang Matheba Hires New Team Amid R10m Tax Fraud Lawsuit

Bonang Matheba has hired a new audit team to work with Sars in an attempt to sort out her issues with the taxman, her management have revealed to TshisaLIVE. The star was summonsed to appear in Johannesburg Specialised Commercialised Crimes Court on Thursday over tax fraud allegations but failed to show up because she was in New York where she led a discussion at the United Nations General Assembly on Tuesday. She was set to answer questions over both her personal and business tax returns. National Prosecuting Authority spokesperson Phindi Mjonondwane confirmed to TshisaLIVE that a warrant for the star's arrest had been issued by Magistrate Benita Oswell but was not effective unless she failed to appear at her next court appearance in October. Bonang's management, Celebrity Servic...
Tax Fraud: Mourinho Agrees To Pay £700,000 Fine In Out-Of-Court Agreement
Scandals and Rumours

Tax Fraud: Mourinho Agrees To Pay £700,000 Fine In Out-Of-Court Agreement

Manchester United manager Jose Mourinho has reached an out-of-court agreement with Spanish prosecutors over an alleged £2.9million tax fraud, it has been reported. The former Real Madrid boss is said to have admitted two charges of tax fraud and agreed to pay a £703,000 fine. Prosecution sources said the agreement had been 'sealed' and would be formalised in the next few weeks, according to the Spanish newspaper El Mundo.
Jose Mourinho Arrives In Court In Madrid For Tax Fraud Hearing Before Chelsea Clash
Sport

Jose Mourinho Arrives In Court In Madrid For Tax Fraud Hearing Before Chelsea Clash

Mourinho is accused of defrauding the Spanish tax authorities of £2.9million during his time in charge of Real Madrid between 2010 and 2013 by not declaring profits from image rights. The Portuguese manager, who has denied the charges, was mobbed by photographers and reporters on his way into the hearing, which was due to start at 10am – just two days before United face title rivals Chelsea. The case has threatened to disrupt United's preparations for their trip to Stamford Bridge on Sunday. The club brought Mourinho's weekly press conference forward 24 hours from its usual slot to Thursday, while his No 2 Rui Faria and his coaching staff will oversee training when he is out of the country. He settled a previous claim against him in 2014, paying a penalty of £1m, but prosecutors claime...
Carvalho Given Prison Sentence For Tax Fraud In Spain
Sport

Carvalho Given Prison Sentence For Tax Fraud In Spain

BARCELONA (Reuters) – Former Chelsea and Real Madrid defender Ricardo Carvalho was sentenced to seven months in prison and fined 142,882 euros ($167,000) on Friday for crimes against the Spanish tax authority, a Spanish court filing said. Spanish law is such that any sentence under two years for a non-violent crime rarely requires a defendant without previous convictions to serve jail time. Carvalho, 39, who now plays for Chinese Super League outfit Shanghai SIPG, was found guilty of hiding income from image rights in 2011 and 2012 while playing for Real, where he played between 2010 and 2013, avoiding 545,981 euros in tax. He returned the amount and pleaded guilty to the charges, which the court said in a statement lead to his sentence being reduced from the Spanish public prosecutor's...
Jorge Mendes Among Cristiano Ronaldo Advisers Brought Into Tax Fraud Case
Sport

Jorge Mendes Among Cristiano Ronaldo Advisers Brought Into Tax Fraud Case

Portuguese agent Mendes is being imputed into the case because Ronaldo referred to him and fellow representatives Luis Correia and Carlos Osorio as his closest 'team' who he 'pays very well not to have problems and this sort of nonsense'.According to El Mundo, judge Monica Gomez Ferrer wants to verify the trio's degree of participation and responsibility in the winger's 14.7 million euro image rights tax discrepancy when court reconvenes on October 19.
Rapper DMX Busted On Tax Fraud Charges
Celebs

Rapper DMX Busted On Tax Fraud Charges

Rapper DMX has been arrested in New York on federal tax fraud charges. Prosecutors say the rapper, whose given name is Earl Simmons, owes $1.7 million in taxes and has engaged in a multi-year scheme to conceal millions of dollars of income from the Internal Revenue Service. Prosecutors say Simmons raked in millions from his songs, including the 2003 hit “X Gon’ Give it to Ya,” and avoided paying taxes by setting up accounts in other’s names and paying personal expenses largely in cash. The 46-year-old Yonkers native was arrested on Thursday. He’s to appear in Manhattan federal court on Friday. A telephone call to his previous lawyer’s office went unanswered. In 2015, Simmons spent more than two months in a New York jail for failing to pay child support.
Angel Di Maria Handed One-Year Jail Term For Tax Fraud
Sport

Angel Di Maria Handed One-Year Jail Term For Tax Fraud

Paris Saint-Germain forward Angel Di Maria has been given a suspended one-year jail sentence and fined £1.76m for tax fraud in Spain. Di Maria admitted two counts of tax fraud totalling £1.16m during his four-year spell with Real Madrid between 2010 and 2014, related to his image rights. The 29-year-old made a deal with Spanish tax authorities to avoid a trial, with each of the two counts coming with a six-month sentence. But he will almost certainly not spend any time behind bars as sentences of under two years in Spain are suspended providing the convicted person has no criminal record. Di Maria left Madrid in August 2014 and signed a five-year deal with Manchester United after a £59.7m deal was agreed. He would only play for one season at Old Trafford before moving on to PSG in the...
Mourinho Denies Spain’s Tax Fraud Allegation
Sport

Mourinho Denies Spain’s Tax Fraud Allegation

Manchester United manager José Mourinho is innocent of tax fraud and had his tax affairs ratified by the Spanish government, according to his advisers. Mourinho was accused by prosecutors of defrauding Spain of €3.3m (£2.9m; $3.6m) in taxes while he was Real Madrid coach from 2011 to 2012. A prosecutor said Mourinho, 54, did not declare income from image rights in order to get an “illicit benefit”, but a statement released on his behalf said he “has not received any notification”. The Gestifute Media release added: “To this date, neither the Spanish tax authorities, nor the public prosecutor have contacted Jose Mourinho or his advisers who were hired for the inspection process.” The statement also said Mourinho “paid more than €26m in taxes, with an average tax rate of over 41%...
Cristiano Ronaldo Is Going Nowhere – Perez
Sport

Cristiano Ronaldo Is Going Nowhere – Perez

Real Madrid president, Florentino Perez, has said Cristiano Ronaldo is not going anywhere this summer and that they have received no offers for the player. Perez also confirmed that the 32-year-old has a release clause of £1billion. Ronaldo has been linked with an exit from the Santiago Bernabeu, due to accusations of tax fraud, but Perez does not think that his player has done anything untoward. “It has affected me how the media treated Cristiano, the presumption of innocence was not respected,” Perez told Onda Cero. “I believe everyone must comply with their tax obligations and I know that Cristiano always does things the right way. “Cristiano has the same corporate structure he had in England, where he spent many years without problems. I am sure that Cristiano complies w...
Cristiano Ronaldo Vows So ‘Stay Quiet’ Over Tax Fraud Allegations
Sport

Cristiano Ronaldo Vows So ‘Stay Quiet’ Over Tax Fraud Allegations

Cristiano Ronaldo said “sometimes the best answer is to be quiet” in the wake of allegations he defrauded the Spanish tax office of £14.7m. The Portugal captain has been accused by Madrid’s regional state prosecutor of four counts of tax fraud relating to image rights payments. Ronaldo’s representatives have denied the allegations while the 32-year-old’s club side, Spanish and European champions Real Madrid, have also thrown their support behind the forward and backed him to prove his innocence. The four-time Ballon d’Or winner spoke briefly when quizzed on the subject by reporters following a training session with Portugal on Wednesday, saying he had a “clear conscience”. And Ronaldo issued another short message on social media on Thursday. Accompanying a photo of himself h...
Cristiano Ronaldo Faces Up To 5 Years Jail Term For Tax Fraud
Sport

Cristiano Ronaldo Faces Up To 5 Years Jail Term For Tax Fraud

Real Madrid superstar, Cristiano Ronaldo could face a five-year prison sentence in Spain for tax fraud summing up to 15million Euros between 2011 and 2013.  The country's tax office have passed a file to prosecutors, who will decide whether to press charges against the Portuguese Real Madrid attacker. This is coming in days after Spain's Supreme Court confirmed a 21-month jail term handed down last year to Barcelona forward, Lionel Messi and his father Jorge, who manages his finances.  Both were convicted in 2016 of defrauding Spain of 4.1m euros (£3.5m) in taxes.
Supreme Court Confirms Messi Fraud Sentence
Sport

Supreme Court Confirms Messi Fraud Sentence

Spain’s Supreme Court on Wednesday confirmed a 21-month jail sentence and 2.09-million-euro ($2.25 million) fine imposed on Lionel Messi for tax fraud, months after the Barcelona football star lodged an appeal. The Argentina international and his father Jorge Horacio Messi were in July 2016 found guilty of using companies in Belize, Britain, Switzerland and Uruguay to avoid paying taxes on 4.16 million euros of Messi’s income earned from his image rights from 2007-09. The income related to Messi’s image rights that was hidden includes endorsement deals with Danone, Adidas, Pepsi-Cola, Procter & Gamble and the Kuwait Food Company. Both Messi and his father were given 21 months in jail — sentences likely to be suspended as is common in Spain for first offences for non-violen...
Alexis Sanchez Admits to Tax Fraud Totalling £865,000
Sport

Alexis Sanchez Admits to Tax Fraud Totalling £865,000

Arsenal star Alexis Sanchez confessed to tax fraud in Spain of almost €1million. The Chilean owned up to defrauding the Spanish treasury of €983,000 (£865,000) between 2012 and 2013 when he was playing for Barcelona. In his statement to a Catalan court, via video link from London, Sanchez confessed to two counts of tax fraud. According to Europa Press, the Arsenal star is understood to have already returned the money he admitted to withholding. As a consequence of his repayment, he is not likely to have to face a trial with an agreement to be reached by both parties. This would involve the defence team of Sanchez negotiating with the prosecution an adequate fine to compensate for the delay in tax payments. The allegations initially came to light in November 2016 when it was propo...