Category Archives: Tax Fraud

Wade Cook to Face Retrial

Posted on March 1, 2007 by Russ

Wade Cook, convicted last week for not reporting all of his income, will be retried on tax fraud charges. Additionally, his wife, who also had a hung jury, will also be retried. The Seattle Times reported that the new trial … Continue reading →

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Fraud, With a Capital F

Posted on February 21, 2007 by Russ

It’s time for yet another round-up of tax fraud. We have some of the usual suspects, but there is one that rises to the top. I wrote about Wade Cook in December 2005 when he was indicted for tax fraud. … Continue reading →

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Murphy’s Law

Posted on December 8, 2006 by Russ

The Seventh Circuit Court of Appeals today ruled on the appeal of Glen Murphy, a Wisconsin Chiropractor, who had earlier been convicted of seven counts of filing false tax returns and three counts of not filing tax returns. After being … Continue reading →

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Just a Pinch of Fraud

Posted on November 20, 2006 by Russ

Three stories today, all with a recurring theme: fraud. We’ll look at a new but not so good method to sell for less. Then we’ll take a peak at two accountants, and how they made money…for themselves. Tommy James Hudgins … Continue reading →

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The Structure Fails for this Pharmacist

Posted on November 15, 2006 by Russ

The drug store. That place where we fill our prescriptions, buy our sundries, and maybe have a malt at the counter. Saad Kamil Deeb owns Citizens Pharmacy in Welch, West Virginia. According to the US Department of Justice, he allegedly … Continue reading →

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A Reminder About Being Frivolous

Posted on November 14, 2006 by Russ

Every so often I have to educate my clients that if it sounds too good to be true, it probably is. Today, the Tax Court educated a businessman that S Corporations are flow-through entities: in general, the owners of an … Continue reading →

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What Not To Do as an Accountant

Posted on October 15, 2006 by Russ

1. Inflate other businesses’ deductions by classifying wages and income as loan repayments. 2. Not filing your own tax return. And if you do both, and get caught, you’re likely going to be joining Brian Cox at ClubFed. Mr. Cox … Continue reading →

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An Unsuccessful Launderer

Posted on October 7, 2006 by Russ

Samuel Currin, the former chairman of the North Carolina Republican party, has agreed to plead guilty to conspiracy charges related to tax fraud, according to a published report. Mr. Currin will, according to the report, admit to taking $1.45 million … Continue reading →

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If You Admit Fraud…(Part 2)

Posted on September 19, 2006 by Russ

A little over a month ago we wrote about a Tax Court case where the petitioners had admitted fraud, but wanted to get out of paying the §6663 penalty for fraud. At that time we said, “For once you say … Continue reading →

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Largest Tax Fraud Case In US History

Posted on September 8, 2006 by Russ

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 … Continue reading →

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