« Previous · Tax Update Blog Home · Next »
Now here's a new twist to tax evasion:
ANAHEIM - The former director of UCLA's Willed Body Program pleaded guilty to federal tax charges after admitting he never paid taxes on tens of thousands of dollars he made while overseeing the university's program.
Henry Reid of Anaheim was brought in by UCLA to clean up its Willed Body Program after the school was accused of mixing medical waste and animal remains with the ashes of human donors – and then dumping them in a garbage dump. But Reid was arrested in March 2007 for grand theft in connection with selling body parts donated to UCLA's medical research program for profit.
Prosecutors said that between May 7, 1999, and Feb. 26, 2004, Reid sold bodies donated to the university were supposed to be used for medical study and research to Ernest Nelson of Rancho Cucamonga, who resold them to other people. Reid made $43,000 in the scam, prosecutors said. Nelson made more than $1 million.
Sad. The guy who had the goods only made $43,000, and the middleman made $1 million. It pays to control the distribution channels.
There's no mention of what inventory method was used by Mr. Reid.
(Via the Orange County Register online edition)
Bookmark: del.icio.us • Digg • reddit
The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to