Meehan asks Newell, who poses as an anesthesiologist, to deposit around $10,000 cash in her account, because so many of his patients are uninsured and they pay in cash. He can’t deposit the money, which he claims he’s reported to the IRS, in his own account, because of his ex-wife. He needs to be a little creative in his accounting.
Newell then offers to put the money with her own cash.
So many warning bells. First, nobody goes to a hospital with a wallet full of hundreds to pay for surgery. If he is hiding assets from an ex, clearly there’s a lot of trouble still hanging around from this previous relationship.
Be wary of anyone who says they need to be a little creative in their accounting. What do they mean by “creative”? What does the IRS think of this strategy?
Don’t commingle cash assets. Especially with someone who says he’s creative in his accounting.