In 2024, federal agencies ramped up enforcement of white-collar crime, leading to substantial financial penalties and lengthy prison sentences. The year’s most notable cases—spotlighted by the IRS Criminal Investigation Division—underscore the high stakes for individuals and organizations facing legal scrutiny.
For those under investigation or indictment, the experienced white-collar crime defense attorneys at Griffin Durham Tanner & Clarkson LLC offer strategic, high-level defense to protect your rights, reputation, and future. Call (404) 891-9150 or contact us online for a confidential consultation.
January 2024: Three major cases in the first month of the year
Conservation easement fraud: Promoters sentenced to 23 and 25 years
CPA Jack Fisher and attorney James Sinnott were convicted for selling over $1.3 billion in fraudulent conservation easement deductions, leading to $450 million in tax losses. Both were sentenced to more than two decades in prison.
| Key charges: Tax fraud, conspiracy under 18 U.S.C. § 371. |
| Takeaway: The IRS continues to prioritize enforcement against abusive tax shelters. Professionals promoting or using such structures should seek immediate legal guidance when facing an audit or subpoena. |
José Huizar convicted in Los Angeles pay-to-play scheme
Former L.A. City Councilman José Huizar was sentenced to 13 years for running a bribery and racketeering conspiracy, accepting millions in gifts from real estate developers in exchange for political favors.
| Key charges: Racketeering (RICO), bribery, tax evasion. |
| Takeaway: Public officials and their associates can face harsh penalties under the federal RICO Act (18 U.S.C. § 1961 et seq.). White-collar investigations often expand to include tax and obstruction charges. |
OneCoin laundering: Attorney sentenced to 10 years
Former law firm partner Mark Scott was sentenced for laundering $400 million in proceeds from the OneCoin crypto fraud. He used shell companies and offshore accounts to move the funds and collected over $50 million in fees.
| Key charges: Money laundering, wire fraud conspiracy. |
| Takeaway: Attorneys and professionals acting as intermediaries in financial transactions are under increased scrutiny. Compliance and documentation are key to avoiding personal liability. |
March 2024
The FTX collapse: Sam Bankman-Fried sentenced to 25 years
Sam Bankman-Fried (SBF), once the face of cryptocurrency innovation, received a 25-year prison sentence and was ordered to pay $11 billion in forfeiture for one of the largest financial frauds in U.S. history. Prosecutors alleged that SBF misappropriated billions in customer deposits from FTX and used the funds for personal investments, political contributions, and lavish real estate purchases.
| Key charges: Wire fraud, securities fraud, money laundering, and conspiracy under 18 U.S.C. §§ 1343, 1344, and 1956. |
| Takeaway: High-growth industries like crypto are not immune to regulatory scrutiny. Executives must maintain strict financial controls, and when facing investigation, seek counsel experienced in financial fraud defense. |
Jacksonville Jaguars employee embezzles $22 million
Amit Patel was sentenced to 6.5 years for using his role in the Jaguars’ credit card program to embezzle over $22 million. He used the funds for gambling, real estate, and personal travel.
| Key charges: Wire fraud, illegal monetary transactions. |
| Takeaway: Internal fraud is a persistent risk for organizations. When employees face accusations, legal counsel must act quickly to manage parallel criminal, civil, and regulatory proceedings. |
April 2024
Binance CEO and company plead guilty
Changpeng Zhao, CEO of Binance, the world’s largest crypto exchange, was sentenced to four months in prison in April 2024. Binance Holdings Limited agreed to pay a $4.3 billion penalty for failing to maintain an effective anti-money laundering program and for violating the Bank Secrecy Act (31 U.S.C. § 5311 et seq.).
| Takeaway: Companies in emerging financial sectors must comply with AML laws and international sanctions. Federal scrutiny is intensifying, and compliance missteps can lead to multi-billion-dollar penalties. |
July 2024
$100 million Army grant fraud: Janet Yamanka Mello sentenced
Mello, a former Army civilian employee, was sentenced to 15 years in federal prison for stealing over $100 million in youth program grant funds. She used a fake business to receive fraudulent grant checks, then diverted the funds for personal luxuries.
| Key charges: Wire fraud, identity theft, and tax evasion. |
| Takeaway: Fraud involving federal programs is aggressively prosecuted under the False Claims Act (31 U.S.C. §§ 3729–3733) and related statutes. Early intervention by defense counsel can be critical in reducing exposure. |
August 2024
Former attorney sentenced for role in bank collapse
Robert Kowalski was sentenced to 25 years for embezzlement and fraud tied to the collapse of Washington Federal Bank. He used false loan disbursements and filed fraudulent bankruptcy claims to hide assets.
| Key charges: Bank fraud, embezzlement, tax fraud. |
| Takeaway: Federal sentencing for financial crimes often reflects the scale of harm. Defendants must be prepared to mount a detailed and strategic defense early in the investigative process. |
September 2024
Massive identity theft scheme targets IRS
Abraham Yusuff was sentenced to over 14 years in prison for leading a $110 million identity theft refund fraud targeting the IRS. He and co-conspirators stole taxpayer data and impersonated tax professionals to divert funds.
| Key charges: Tax fraud, wire fraud, identity theft. |
| Takeaway: Large-scale tax fraud schemes often trigger parallel charges under 18 U.S.C. §§ 1343 and 1028A. Effective defense requires early forensic analysis and negotiation with federal authorities. |
November 2024
Bitcoin Fog operator sentenced for laundering $400 million
Russian-Swedish citizen Roman Sterlingov was sentenced to over 12 years in federal prison for operating Bitcoin Fog, a darknet cryptocurrency mixing service used to launder funds tied to narcotics and cybercrime. He was also ordered to forfeit nearly $400 million.
| Key charges: Money laundering, conspiracy under 18 U.S.C. § 1956. |
| Takeaway: Digital anonymity tools are no shield against criminal prosecution. Individuals and businesses operating in high-risk financial sectors must implement strict AML compliance programs. |
Other major white-collar developments
- Eric Adams bribery investigation: The NYC mayor faces charges for allegedly soliciting bribes and abusing public office for campaign support and luxury travel.
- Senator Bob Menendez corruption case: Menendez faces decades in prison following a high-profile federal bribery conviction involving gold bars, cash, and foreign influence.
Defending your future in the face of federal white-collar charges
At Griffin Durham Tanner & Clarkson LLC, we defend clients across the country against federal white-collar charges, including wire fraud, tax fraud, embezzlement, conspiracy, and money laundering.
Our attorneys include former federal prosecutors who understand the government’s tactics and know how to strategically challenge the evidence at every phase—investigation, indictment, trial, and appeal. Contact us online or call (404) 891-9150 to request a consultation today.