Walter Anderson, a former telecommunications executive, pleaded guilty to evading $200 million in taxes today. Anderson had apparently hid $450 million in offshore bank accounts in the Channel Islands and elsewhere.
In the not-so-brilliant category, investigators found a copy of the book, Poof! How to Disappear and Create a New Identity while searching his home. Anderson also “forgot” to file tax forms on two paintings he bought that were worth over $1 million.
Although eligible for 80 years in prison (effectively a life sentence for Anderson, who is 52), the plea agreement sets a maximum sentence at ten years. Given that Anderson still disputes some of the allegations, stating that some of the purloined funds would have been used to “privatize space” and for charity, it’s no surprise that Anderson is still being held without bail. Sentencing will likely be in January.
MSNBC Story
DOJ Press Release (2005)
TaxProf Blog Story
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