DAVID OLSON BLOG


Category: White Collar Crime


JULY  12 2017
New Law Says That Bitcoin Is Money Laundering… Now
New Law Says That Bitcoin Is Money Laundering… Now

 

 

The Florida legislature recently revised its financial laws, stating that Bitcoin can be used for money laundering. Previously this was not the case – because Bitcoin was not regarded as actual money.

 

Here’s an explanation of how the laws have changed and what this means for you.

 

Understanding Bitcoin and How It Can Get You into Trouble

 

What is “Bitcoin”? A bitcoin is a form of digital monetary exchange that is accepted as a payment method by many legitimate websites such as Amazon, Overstock.com, Target, Expedia, and Dell. However, bitcoins can be difficult to define …

SEP. 26 2016
Bitcoin Isn’t Money Laundering, Says Florida Court
Bitcoin Isn’t Money Laundering, Says Florida Court

If you are in the tech world, you might have heard about the ongoing case of the State of Florida vs. Michell Abner Espinoza. Abner was accused of money laundering and unauthorized transmission of money, but for many, the ruling affects more than just one man’s prison sentence. The case discussed the definition and distinction of “Bitcoin,” commonly regarded as an online measurement of currency.

 

The case’s final ruling in July may come as a shock to many Bitcoin users. The state of Florida ruled that Bitcoin isn’t money, and selling it is not considered “transmission” under Florida law. …

JUNE  7 2016
Federal Reforms Mean Nothing for State White Collar Crime Charges
Federal Reforms Mean Nothing for State White Collar Crime Charges

During and immediately following the 2008 financial crisis, there was an appetite to see those responsible punished for the white collar crimes that led to the whole debacle. But some punishments were so insanely harsh that in more recent years there’s been a push to reform federal sentencing.

 

Recently, a federal panel decided to move forward with making reforms to the way federal judges penalize white collar crimes. The reforms would look closer at the intentions behind each person involved in a white collar crime, as well as giving harsher sentences to criminals who severely affected numerous victims and …

APR. 25 2016
The Best Defenses for Corporate Fraud
The Best Defenses for Corporate Fraud

 

Corporate fraud is one of the FBI’s top priorities. While it’s true that this type of fraud has always been an issue, the Enron scandal of 2001 really seemed to put corporate fraud on the mainstream “map”.

 

Enron, named by Fortune magazine as “America’s Most Innovative Company” for six years in a row prior to the scandal, kept massive debts off of their balance sheets, which resulted in shareholders losing $74 billion – yes, with a b – thousands of investors and employees losing their pensions, and many employees ultimately losing their jobs.

 

WorldCom, Tyco, HealthSouth, Freddie …