Author Archives: Russ

What Happens When You Think There’s No Income Tax

Posted on March 22, 2007 by Russ

If you don’t pay your taxes, or file a return with all zeroes, things will happen. Eventually, when you owe enough money, an IRS agent will knock on your door (or send you a certified letter). If you keep ignoring … Continue reading →

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A No Nguyen Situation

Posted on March 22, 2007 by Russ

When you hear that your vote doesn’t count, well, think again. Here in Orange County, the First Supervisorial District was without a Supervisor since January, when Lou Correa (elected to the State Senate in November) moved up to Sacramento. Ten … Continue reading →

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More on Neteller

Posted on March 21, 2007 by Russ

Neteller, the beleaguered Isle of Man financial intermediary firm whose two founders were arrested on money laundering charges in the United States, announced that they have come to an agreement with the US Attorney’s Office for the Southern District of … Continue reading →

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Is Witness Intimidation Next?

Posted on March 20, 2007 by Russ

Erle Stanley Gardner would enjoy this plot. A madam, excuse me, an escort service operator, is accused of racketeering and money laundering. She has a list of her customers that she wants to sell. She claims to have given a … Continue reading →

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A “Personal Piggy Bank” or a Well-Run Company?

Posted on March 20, 2007 by Russ

Two diametrically opposed visions of Hollinger, Inc. were presented to jurors in Chicago in opening arguments of the Conrad Black trial. Prosecutors, quoted by Bloomberg, called Hollinger Black’s “personal piggy bank.” His attorneys, though, claimed “[the] company was stolen out … Continue reading →

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Another $0.02 For Your Thoughts

Posted on March 20, 2007 by Russ

If you use the postal service, it will cost you $0.41 for first class mail beginning on May 14th. The good news? You will be able to buy a “forever” stamp. The new “forever” stamp will be able to used … Continue reading →

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Whither State Tax Revenues?

Posted on March 18, 2007 by Russ

A very interesting article from Reuters on the possibility of a decline in state tax revenues. Reuters speculates on (1) lower capital gains revenues, in states such as California, and (2) declining real estate values, in other coastal states (such … Continue reading →

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Clear as Mud

Posted on March 18, 2007 by Russ

If I told you that there was a trial attracting a media circus in Chicago, you might wonder about my intelligence. Except for stories in the two daily Chicago newspapers (the Chicago Tribune and the Chicago Sun-Times), this trial might … Continue reading →

Posted in Illinois, Tax Fraud | Tagged | 1 Comment

$6.8 Million and 10 Years

Posted on March 15, 2007 by Russ

Back in November I wrote about the Ozbay family of Schenectady, New York. They didn’t commit one piece of tax fraud. No, they committed lots of tax fraud. They didn’t pay income tax, they structured their transactions, and they didn’t … Continue reading →

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Plenty of Fraud to Pass Around the Table

Posted on March 12, 2007 by Russ

Well, it’s time for an uber-post. We’ve got plenty of fraud to share, with two practitioners in trouble, an IRS agent, what should be a circus of a trial, and a pilot that may be grounded. First up comes one … Continue reading →

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