John McAfee arrested, indicted on tax evasion charges, sued for fraud

Posted on October 15, 2020 by Camron Hoorfar

Cybersecurity eccentric, John McAfee, is under arrest in Spain awaiting extradition to the United States after being indicted on federal tax evasion charges. The filing alleges that McAfee deliberately not only avoided paying federal taxes from tax years 2014 through 2018 but also tried to hide considerable assets from the IRS. He allegedly hid those assets, including a yacht, a vehicle, real estate, bank accounts, and cryptocurrency, by purchasing and titling them under another name. McAfee has in the past taunted the IRS and bragged on Twitter about not filing tax returns for eight years. The DOJ alleges that he made millions in unclaimed earnings. There are also allegations that $23 million of his income was from committing fraud. If he is found guilty of the tax charges, McAfee could face up to five years in prison and a fine of $250,000 on each of the five counts of tax evasion and up to one year in prison and a fine of up to $100,000 on each of the five counts of willful failure to file a tax return.

 Inquiring about taxes? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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New forgiveness application for PPP borrowers with smaller loans

Posted on October 14, 2020 by Camron Hoorfar

Small businesses that obtained PPP loans of $50,000 or less can now use a streamlined application to apply for forgiveness. This is expected to affect about 3.6 million borrowers according to the SBA. The SBA and Treasury Department remain committed to making the forgiveness process as simple as possible while providing protections against fraud. The new form is a single page of required information and a page where voluntary information could be submitted voluntarily.

Confused by the effects of the coronavirus? We can help. Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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OxyContin Maker Purdue Nears Guilty Plea Agreement in U.S. Criminal Probe

Posted on October 13, 2020 by Camron Hoorfar

Purdue Pharma LP, the OxyContin maker controlled by members of the wealthy Sackler family, is nearing an agreement to plead guilty to criminal charges as part of a deal to resolve U.S. Justice Department probes into its alleged role in fueling the nation’s opioid crisis. Purdue lawyers and federal prosecutors are working on a plea deal that could be released in a few weeks. U.S. prosecutors are negotiating a settlement of civil claims also carrying a financial penalty that allege unlawful conduct in Purdue’s handling of prescription painkillers.

 Being sued? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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Restaurant Chain Ruby Tuesday Files for Chapter 11 in Delaware

Posted on October 12, 2020 by Camron Hoorfar

Restaurant chain Ruby Tuesday Inc. filed Chapter 11 bankruptcy in Delaware as it seeks to stabilize its finances during the pandemic. The filing comes after the company reached an agreement with secured lenders to support a restructuring plan. Ruby Tuesday’s restaurants will operate as usual while the firm attempts to recover from the effects of the COCID-19 crisis. Liabilities are estimated between $100 million and $500 million, according to the Delaware court filing. The brand includes more than 500 company-owned and franchised restaurants that employ almost 28,000 staff.

Planning to file for bankruptcy but need help? We can help. Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment. 

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Oct. 15 deadline nears for taxpayers who requested tax filing extensions

Posted on October 11, 2020 by Camron Hoorfar

The IRS reminds taxpayers who filed an extension that the October 15 deadline to file is quickly approaching. Taxpayers should file on or before this deadline. Taxpayers are urged to file electronically, request direct deposit for refunds, and pay amounts due as soon as possible to reduce penalties and interest.

 Inquiring about taxes? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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Jackson County, Missouri Issues New Order about Bond and Release procedures

Posted on October 10, 2020 by Camron Hoorfar

IT IS HEREBY ORDERED, effective immediately and continuing until November 30, 2020, as follows: 1. Any defendant arrested on a warrant who is to be delivered to the JCDC with any of the following bonds/bond amounts: A. $5,000.00/10% or any lesser amount; B. $5,000.00/secured or any lesser amount; C. $5,000.00/10%/secured or any lesser amount; D. Cash only bond of $500.00 or any lesser amount; shall be released on their own recognizance (ROR) with the monetary bond amount to be the same as set forth in the bond documents (for example, $5,000.00 ROR). 2. Any additional conditions of release shall apply and be communicated to the defendant. 3. Notwithstanding any return date on the bond, the defendant shall be given a next court date approximately thirty (30) days from the release, on the day and time indicated on the warrant, with said date to be determined by the judicial officer/division in which the defendant’s case is pending and with said date to be communicated to said defendant prior to said defendant’s release on his/her own recognizance. IT IS FURTHER ORDERED that any law enforcement agency arresting a defendant on such warrant is authorized to release any defendant on the terms set forth above without transporting said defendant to the JCDC

In a tough spot? Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com

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Pressure Mounts on SBA to Forgive Loans, Prevent Fraud

Posted on October 9, 2020 by Camron Hoorfar

The Treasury Department and SBA have not yet forgiven any of the 5.2 million emergency coronavirus loans issued to small businesses. Small businesses that received Paycheck Protection Program funds, as well as their banks, have been frustrated by the difficulty in applying for loans to be forgiven. SBA announced last week that it had received only 96,000 loan applications and has not processed any applications. Treasury and SBA officials have said they plan to begin considering the applications soon. SBA officials say they opened the system for forgiveness August 10. The agency has 90 days to consider each application after it receives bank approval, according to the CARES Act.

Confused by the effects of the coronavirus? We can help. Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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Southwest Seeks Pay Cuts from Unions to Avoid Layoffs Through 2021

Posted on October 8, 2020 by Camron Hoorfar

Southwest Airlines said that it is asking unions to agree to pay cuts in order to prevent furloughs and layoffs as the industry struggles to slow losses from the coronavirus pandemic Unions represent about 83% of Southwest employees. Non-union staff salaries are to be cut by 10 percent until January 1, 2022, when they will return to the current level. The union representing Southwest pilots said that it had tentatively agreed to meet and discuss cost savings if a second COVID-19 relief package does not pass. American Airlines and United Airlines began furloughing 32,000 employees when a ban on job cuts expired.

Are you affected financially due to the coronavirus? We can assist you. Contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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Almost 1,600 Customers Say Wells Fargo Paused Their Mortgage Payments Without Their Consent

Posted on October 7, 2020 by Camron Hoorfar

Nearly 1,600 Wells Fargo customers say the bank paused their mortgage payments without their consent according to communication that the bank sent to two U.S. senators in August and September. The letters also indicate that the bank didn’t know how many customers had been affected by its practice of placing them in so-called forbearance programs. In July, an NBC News investigation detailed how Wells Fargo had suspended customers’ mortgage payments without their permission during the COVID-19 pandemic. Placing customers in unwanted forbearance can harm borrowers’ credit reports. The conduct can prevent borrowers from refinancing their home loans to benefit from record-low interest rates. Wells Fargo stated that it was trying to help borrowers potentially harmed by the pandemic by pausing their mortgage payments.

Are you a victim of a similar fraudulent matter? Contact our office at 816-524-4949, or you can visit our website at hoorfarlaw.com to see what our attorneys can assist you with.

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Regal Cinemas to Close All U.S. Theaters This Week

Posted on October 6, 2020 by Camron Hoorfar

Cineworld announced today that it will close all of its movie theaters in the United States this week after the postponement of the new James Bond film left a big hole in schedules. The closures affected 536 U.S.-based Regal Cinemas and 127 Cineworld and Picturehouses in the U.K. The closures will happen on Thursday. Approximately 45,000 employees are affected. Cineworld did not share any plans for a reopening date and claimed it would be watching the situation closely. Many U.S. theaters have reopened after being closed due to the coronavirus in March, but audiences have been slow to return as the country has continued to struggle with coronavirus.

Struggling financially? Please contact our office at 816-524-4949 or you can visit our website at hoorfarlaw.com to schedule an appointment.

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