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Ten years for Aegis figure

March 25, 2009

A former attorney who was a founder of the Aegis tax scam scheme out of Chicago has been sentenced to ten years in federal prison.

The Aegis system used networks of trusts to conceal income from the IRS. Other figures in the scheme have received sentences from 13 to 18 1/2 years. Two defendants who cooperated with prosecutors await sentencing.

It's not just the promoters who ran into trouble from the Aegis scheme. Their customers have also had unhappy results.

The Moral: if somebody tells you about a trust scheme that makes your taxes go away, be extremely skeptical. If you think they are convincing, run it by a tax pro who isn't affiliated with the promoters.

Tags: aegis.tax crime.