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January 07, 2008

A couple that invested in the Anderson's Ark tax evasion scheme won acquittal last week in a retrial on tax evasion charges. They were convicted on their first trial, but an appeals court ordered a retrial to admit evidence barred by the trial judge.

The couple won acquittal with what I call the "good faith fraud" defense - that they didn't realize they were committing tax fraud.

Anderson's Ark's tax scam was based on deducting remittances to offshore investment accounts as business expenses; the funds were then drawn on by the Ark's clients, net of a fee paid to the organizers. The ringleaders are serving long prison terms, and charges have been filed against other customers.

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