I’m traveling quite a bit this month. Currently, I’m enjoying the heat of Las Vegas. The individuals mentioned below are suffering a different kind of heat.
I’ve written about Talal Chahine and the La Shish resturant before. His wife was just sentence for her part in a tax evasion scheme. Chahine, who has already been charged with four counts of tax evasion, was charged with a fifth count of tax evasion this past week. Chahine has apparently fled to Lebanon. If he returns and is convicted he could spend many years at ClubFed.
Yet another individual has found out that a sham trust leads to tax evasion. Karl Olsen of Easton, Connecticut, was sentenced to two years probation, a fine of $10,000 and must make restitution to the IRS. Olsen admitted when he pleaded guilty that he evaded over $51,000 in tax through a sham trust and making false deductions. Olsen, though, avoids ClubFed.
I use aloe vera, a skin moisturizer. Inltalo Fiore owned Aloe Vera of California, an S Corporation. Aloe Vera sold aloe vera powder. However, his corporation underreported its income. If you’re not caught, it’s a great way to save on taxes. Unfortunately for Fiore, he did get caught. And given that he has already made restitution of $2.9 million to the IRS, we’re not talking about just a little bit of aloe vera here. Fiore faces up to 12 years in prison and a fine of up to $1 million when sentenced after he pleaded guilty to the fraud.
I’ll be getting out of the head midweek when I return to Irvine from Las Vegas. These individuals could be dealing with the heat for some time.