Stranded at ClubFed

When I last wrote about Todd Strand he had pleaded guilty to tax fraud and related charges. Mr. Strand had worked for Renaissance, the Tax People as National Marketing Director. Renaissance promoted a system that allowed you to deduct personal expenses as business expenses. Unfortunately, that’s illegal.

Mr. Strand was sentenced last week. He received 51 months at ClubFed and must make restitution of $10.6 million to the IRS.

Meanwhile, Renaissance founder Michael Cooper is awaiting sentencing (scheduled for November 18th). Mr. Cooper was convicted on 73 counts. It looks like Mr. Cooper will receive many, many years at ClubFed when he’s sentenced.

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