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'AEGIS' TRUST PROMOTERS CONVICTED

May 22, 2008

Six promoters of the "Aegis" scam trust scheme have been convicted of tax fraud conspiracy charges. According to press reports, over 600 wealthy taxpayers were conned into the scheme, which used offshore trusts to illegally conceal taxable income. One unhappy customer was the founder of the Hooters restaurants.

The Tax Prof and A Taxing Matter have more. You can view the original indictment here.

The Moral? If you believe it when someone offers to magically hide your income offshore, you may need to bring the income back onshore to pay your lawyers someday.
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Tags: tax crime.