Daniel C. Davidson was quoted in a February 14, 2024 Law360 article titled “First Purely Tax Crypto Indictment Signals More On Tap” on the financial activities likely to capture the IRS criminal unit’s attention in the crypto sphere. The article discusses possible implications of the Department of Justice’s early February announcement of the novel indictment of Frank Richard Ahlgren III, who allegedly underreported capital gains from a legal sale of bitcoin.
From the article:
Structuring bank deposits and using proceeds to purchase luxury items are fact patterns that will likely get the IRS criminal unit’s attention in the crypto sphere, according to Daniel Davidson of Kostelanetz LLP.
When authorities see what they consider as evidence of structuring transactions and using the proceeds on luxury expenses, “that raises their antenna in any context,” Davidson said.
Click here to view the webpage version of the article.
