Kylie Jenner Warned Of Legal Trouble If Found Guilty Of Faking Tax Returns For Billionaire Status

Kylie Jenner was warned by a lawyer of a potential legal trouble if she were found guilty of faking her tax returns to achieve her billionaire status.

Jenner was listed as among the youngest billionaires by Forbes. However, the same publication released a new report questioning the 22-year-old’s wealth.

According to Jan Handzlik, top financial fraud lawyer, the “Keeping Up With the Kardashians” star could potentially be subjected to criminal investigation and even be put in jail if the allegations that she faked her tax report would be proven true.

“My guess is that at a minimum the SEC will begin what they call an informal inquiry and then perhaps elevate that to a formal investigation, which gives them subpoena power,” Handzlik told Mail Online.

“In this matter you've got a mixture of things that may lead to both civil and criminal scrutiny early on: obviously the celebrity aspect, the large amount of the alleged exaggeration, and the highly public nature. All of this is like catnip to a prosecutor or the SEC, because it will lead to very heavy coverage of what takes place. If the Department of Justice decides to make this a criminal case… if there were to be a conviction, that could include jail time for any individuals who were responsible.”

According to the report from Forbes, Jenner is no longer a billionaire. Back in November, Coty acquired Kylie Cosmetics and upon release of its filings to the public, it was found out that the reality star’s business was “significantly smaller, and less profitable” than what the family portrayed it to be.

“Forbes now thinks that Kylie Jenner, even after pocketing an estimated $340 million after taxes from the sale, is not a billionaire,” the report read.

Forbes admitted that it couldn’t prove if Jenner’s documents were fake. However, it still wrote, “Kylie’s camp has been lying.”

Jenner has already responded to the issue on Twitter.

“What am i even waking up to. i thought this was a reputable site.. all i see are a number of inaccurate statements and unproven assumptions lol. i’ve never asked for any title or tried to lie my way there EVER. period,” she wrote, referring to Forbes.

Jenner’s lawyer Michael Kump also issued a statement regarding the matter. According to Klump, the Fobres article is “filled with outright lies.”