Author Archives: Russ

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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Hatch Heads Back to Court

Posted on March 12, 2007 by Russ

Survivor winner, but court loser, Richard Hatch had his appeal heard in Boston last Thursday. Hatch, convicted on multiple counts of tax evasion, is now serving his four-plus year prison term. Hatch is arguing that he should have been able … Continue reading →

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Wal-Mart Fails the Pesticide Tax

Posted on March 9, 2007 by Russ

California has a lot of taxes. One of the taxes that most individuals are not aware of is the pesticide tax. As the DPR notes, “California assesses a fee on all pesticide sales, levied at the point of first sale … Continue reading →

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