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Michael Blum’s Assets Frozen for Evading Tax

Michael Blum’s Assets Frozen for Evading Tax

Running a business comes with many responsibilities besides manufacturing or offering services to clients. There is the financial part of it that, if not handled well, can lead to huge losses. Every business and individual are also required to file for their taxes annually. And failing to pay the taxes can lead you to a lot of trouble.

Well, Michael Blum is currently facing the law after the authority revenue department realized he has been evading taxes. A while back, he talked to Hedgeye and mentioned the film he had just released about how the future would be. And although none was it had been implemented yet, tech enthusiasts loved it. However, Blum didn’t file returns from all the proceedings he got from the project or his fat pay cheque from Hedgeye. No one knows how he has been getting away with this, but he is a tech guru, so it’s not that surprising.

Following these findings, his assets have been frozen. He has also been asked to appear in court for his final verdict. This may significantly affect his position at Hedgeye as he might lose the shares he has in the company.

Final Thoughts

It’s easy to become greedy and want it all to yourself. Everyone feels a pinch from the tax deductions, but the consequences of evading them are much worse than paying them.

Michael Blum may have to pay all his taxes and fines before resuming his normal life, which will cost him his entire assets.

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