I can’t believe this. As I reported in December, local billionaire Igor Olenicoff pleaded guilty to $52 million of tax fraud last December. In his plea agreement it appeared he would get a few months at ClubFed.
As Joe Kristan comments, “Yeah, that $3,500 fine and probation will really teach the guy worth $1,600,000,000 a lesson he won’t soon forget.” That’s what Mr. Olenicoff has gotten according to this Forbes report.
I read that and have nothing to add.
Mr. Olenicoff be sentenced on April 14th in nearby Santa Ana.
Links: TaxProf Blog, Roth Tax Updates
Tags: Olenicoff