Tag Archives | Tax Evasion

Beanie Baby Founder Pleads With Judge To Avoid Jail Time for $107M Tax Evasion

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Pic: USMC (PD)

Beanie Baby founder Ty Warner has been caught up in a crackdown on offshore tax evasion. He’s already paid over a billion in taxes, but the government wants their cut of millions hidden in Swiss accounts.

Via Financial Times:

H. Ty Warner, the billionaire creator of Beanie Baby plush toys, asked a judge to give him probation, not prison, for evading taxes on secret Swiss accounts that held as much as US$107 million.

Warner, 69, faces 46 months to 57 months in prison under nonbinding guidelines when he’s sentenced Jan. 14 in Chicago. The maker of plush toys and hotel operator asked U.S. District Judge Charles Kocoras to impose a term of probation with community service, according to a Dec. 31 court filing.

Warner is among more than 100 people prosecuted in the past five years during a U.S. crackdown on offshore tax evasion. His lawyers argued that “dozens of individuals who engaged in the exact same conduct with respect to undisclosed overseas accounts” got probation.

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Swiss Banks Urge U.S. Tax Dodgers To Come Clean To Beat Deadline

Giuseppe-Colarusso-24

Giuseppe Colarusso

Affluenza, purported higher IQs, and now a headstart for those who already stack the deck?

via Politico

Swiss banks are quietly warning wealthy U.S. clients with secret accounts to come clean with the tax man in the next two weeks — or risk jail time, according to several letters obtained by POLITICO.

The letters come ahead of a New Year’s Eve deadline the U.S. government set for about 300 Swiss banks to take deals protecting them from prosecution. In exchange for confessing and shelling out mountains of Americans’ account information, they’ll get immunity. It is a new twist to the traditional bank-client relationship.

“The banks have every incentive right now to shove their American clients into compliance in order to reduce the penalties,” said tax attorney Jeff Neiman, who prosecuted Swiss banking giant UBS for the U.S. government.

The effort is part of a U.S. crackdown on American tax evaders and the banks that help them, which ramped up when Swiss banking giant UBS admitted as much with a $780 million settlement in 2009.

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Actor Wesley Snipes Free After Three Years in a Prison for “Tax Evasion”

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VENICE, ITALY – SEPTEMBER 08: Actor Wesley Snipes attends the ‘Brooklyn’s Finest’ premiere at the Sala Grande during the 66th Venice Film Festival on September 8, 2009 in Venice, Italy. (Photo by Dan Kitwood/Getty Images)

Wesley Snipes has been released from jail after serving a 3 year sentence for not paying the government extortion racket known as “taxation”.

By JG Vibes
Intellihub.com
April 7, 2013

After spending 3 years in a government cage for refusing to have his money stolen by the government, actor Wesley Snipes is now somewhat free.  Unfortunately, he is still under constant supervision and the government continues to treat him like a criminal, simply because he refused to be criminalized.

CNN reported:

“Actor Wesley Snipes has been released from a federal prison where he was serving a three-year sentence after being convicted on tax charges in February 2010.The release to a supervised residential location in New York occurred Tuesday, the Federal Bureau of Prisons told CNN.

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Lauryn Hill Versus The Military-Industrial Complex

Lauryn Hill. Photo: Lisa Liang (CC)

Well what do you think, will Lauryn Hill fare better against the tax evasion charges she faces than Wesley Snipes did? Ms. Hill explains her position on her Tumblr:

For the past several years, I have remained what others would consider underground. I did this in order to build a community of people, like-minded in their desire for freedom and the right to pursue their goals and lives without being manipulated and controlled by a media protected military industrial complex with a completely different agenda. Having put the lives and needs of other people before my own for multiple years, and having made hundreds of millions of dollars for certain institutions, under complex and sometimes severe circumstances, I began to require growth and more equitable treatment, but was met with resistance. I entered into my craft full of optimism (which I still possess), but immediately saw the suppressive force with which the system attempts to maintain it’s control over a given paradigm.

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