I'm neither a legal nor a tax expert, but I'm pretty sure that faking income from one source to cover up income from another source as to avoid taxes counts as money laundering in most legislations, including the US and the EU.

Do what you will though, I'm just some random guy on the internet Should you be audited by your local authorities (which hopefully won't happen) it's not me you'd need to convince that neither tax evasion nor money laundering is at play. If you haven't already I'd still advise on getting a tax expert aboard though, if only to avoid any slip ups.