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Post details: Department of Justice Announces Tax Fraud and Conspiracy Indictments
06/11/09
Department of Justice Announces Tax Fraud and Conspiracy Indictments
CCH (cch.taxgroup.com) reports:
The Justice Department filed an indictment on June 8 charging seven individuals, three former shareholders of a law firm, the former CEO and a former tax partner of a national accounting firm and two former foreign bankers, with tax fraud, conspiracy and related crimes arising out of tax shelters promoted by the law firm, accounting firm and bank. According to the indictment, filed in a federal district court in Manhattan, the seven defendants, and unnamed coconspirators, participated in a scheme to defraud the IRS by designing, marketing, implementing and defending fraudulent tax shelters, which were used by wealthy individuals with multimillion-dollar taxable income in order to eliminate or reduce the taxes they would have to pay the IRS. Details about the allegations can be found on the Department of Justice website at http://www.usdoj.gov/opa/pr/2009/June/09-tax-569.html.
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