Kylie Jenner could face criminal investigation and even JAIL over 'web of lies' surrounding her company's value after Forbes claimed she faked billionaire status, top financial fraud attorney reveals Kylie Jenner could face a criminal investigation over alleged exaggerations of her company's value, financial fraud attorney Jan Handzlik told DailyMail.com The 22-year-old was kicked off Forbes Billionaire list on Friday in a shock move The outlet said financial filings with the Securities Exchange Commission (SEC) show she may have been lying about the success of her cosmetics firm Handzlik said: 'My guess is that at a minimum the SEC will begin an informal inquiry and then perhaps elevate that to a formal investigation' The controversy has exploded around a $1.2 billion deal for Jenner’s Kylie Cosmetics, in which she sold a 51% stake to makeup giant Coty for $600M Forbes downgraded Kylie's net worth from more than $1 billion to just under $900M, claiming the family likely showed them tax returns with ‘false numbers’ The top attorney said if a federal investigation found Kylie had committed financial fraud, she could face jail time and fines of ‘staggering amounts’ Kylie tweeted: 'i've never asked for any title or tried to lie my way there EVER. period' https://www.dailymail.co.uk/news/ar...ion-alleged-exaggerations-companys-value.html
I'm confused. Its fraud to say you made more? wouldn't that just mean you owe more to the IRS? Wouldn't they love that? I mean, Kardashians are scum, but I would understand more if she said it was worth less than it really is?
No, you submit your real taxes and then make up fake ones to submit to the bank or other financial institutions.
No man. #1, forging tax returns is fraud. People try to do that shit to provide banks with a look at them making more money than they do to get loans and shit. #2 giving different financials to journalists and shareholders is also bad. You can't portray you make more to shareholders. That is securities fraud.
thansk for the answers @SlyPokerCat @SlyPokerDog I do feel more educated now, but really. All i care about now is getting sly $50 bucks to make me a rock star!
Common sense explanation: If you might gain something by lying, you might be liable. I have no company to invest in, so I can claim, and I hereby do, that I am a billionaire. I'll write up a false tax return to impress you. Sue me and see how far you get without damages.
Some people use that to get bank loans or in this case to enhance their reputation so that their business profits.
