Walter Anderson, the former telecommunications executive who pleaded guilty to engaging in a $200 million tax fraud, received nine years in prison when sentenced on Tuesday. But Mr. Anderson did get lucky in one respect. Because the plea agreement was poorly written, the judge did not order Mr. Anderson to make restitution. The IRS will have to make a separate case in civil court to recover the money.
Posts Tagged ‘WalterAnderson’
Anderson Gets Nine Years
Wednesday, March 28th, 2007Largest Tax Fraud Case In US History
Friday, September 8th, 2006Walter 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 the book, Poof! How to Disappear and Create a New Identity while searching his home. Anderson also “forgot” to file tax forms on two paintings he bought that were worth over $1 million.
Although eligible for 80 years in prison (effectively a life sentence for Anderson, who is 52), the plea agreement sets a maximum sentence at ten years. Given that Anderson still disputes some of the allegations, stating that some of the purloined funds would have been used to “privatize space” and for charity, it’s no surprise that Anderson is still being held without bail. Sentencing will likely be in January.
Just a “Little” Evasion ($200 Million)
Tuesday, March 1st, 2005As you will undoubtedly read (or have read) in your local newspaper, Walter Anderson has been arrested for allegedly not paying $200 million in Federal and District of Columbia income taxes.
Roth & Company’s tax updates (now renamed www.taxupdateblog.com) has two good posts (see here and here) on Mr. Anderson’s “anarcho-capitalist” views. I can just imagine saying, “Honey, I misplaced that $126 million….”
