Back in August, I told you the sorry tale of Gene Haas, former CEO of Haas Automation, Inc. Mr. Haas lost a court case and decided to get back at the judge by committing tax fraud. He became a two-time loser when his tax fraud scheme collapsed. In the end, he had agreed to pay the taxes, interest, penalties, and a $5 million fine (the total is about $75 million). Today he was officially sentenced to two years at ClubFed.
Had he just paid the judgment he lost (roughly $30 million) he would still be the CEO of a successful machine tool company. Instead, he’s out an additional $75 million and will serve two years at ClubFed.