In the state of Oklahoma and elsewhere, the law defines wire fraud as the act of trying to defraud people through equipment that's connected by interstate wires. This includes telephones, fax machines, computers, radios and even television. Common forms of wire fraud...
Why is hiding an offshore account illegal?
Simply opening an offshore bank account in Oklahoma is not illegal. However, by the same token, it is not tax-exempt either. If your reasons for investing in an offshore account are legitimate, you can do so without worry. Consequences of opening an offshore account...
What to know about embezzlement
In the state of Oklahoma, embezzlement is a serious charge that can result in several years in prison. While some cases involve small sums of money, large-scale embezzlement can involve thousands or millions of dollars. Here's a rundown of the definition of...
Can you open an offshore account?
When you hear about offshore accounts in the media, it might involve a celebrity hiding their money overseas for tax evasion purposes. However, there's nothing illegal about having an offshore account. Anyone can have an offshore account, even ordinary people in...
Assistant police chief charged with embezzlement
A former senior Oklahoma law enforcement official faces a felony count of embezzlement in connection with four stolen firearms. The 46-year-old Lawton resident was serving as the Medicine Park Police Department’s assistant chief when he was taken into custody on Oct....
Why insider trading is illegal
Insider trading is considered to have taken place when an individual violates a fiduciary duty by selling or buying a security based on information that is not available to the public concerning that security. People in Oklahoma have likely heard about insider trading...
What is a Ponzi scheme and how does it work?
Ponzi schemes in Oklahoma and elsewhere in the country are scams that typically prey on people who want to make money on the stock market but don't know where to start. The fraudulent investor promises large returns with little or no risk. Unfortunately, the scam...
Auto dealer executives accused of defrauding lenders
The president, compliance officer and comptroller of a chain of Oklahoma car dealerships have been indicted by a federal grand jury on wire fraud, conspiracy to commit wire fraud, aggravated identity theft and forgery charges. Initial reports do not indicate whether...
What happens during an IRS audit in Oklahoma
Contrary to popular belief, an IRS audit doesn't necessarily mean that a crime was committed. In many cases, the individual who filed the taxes might have accidentally made an error. The IRS could conduct a minor audit through the mail to correct numerical errors. In...
3 Oklahoma men indicted in alleged $1.7 million wire fraud scam
Authorities in Oklahoma City have issued charges against three men after a federal grand jury approved an indictment against them. Investigators described allegations against the men that involved finding abandoned accounts for the receipt of royalties from mineral...