A man operated a "warehouse bank" out of his suburban home, taking at least $28 million from people around the country who wanted a discrete bank account, according to court documents.
An IRS investigator said Robert Arant had hundreds of customers, many of whom apparently used his bank, Olympic Business Systems LLC, to conceal assets for the purpose of evading taxes.
On his now-defunct Web site, Arant advertised his services to those "who would rather not deal directly with the banking system," court records said.
Full story here http://news.yahoo.com/s/ap/20070502/...warehouse_bank
An IRS investigator said Robert Arant had hundreds of customers, many of whom apparently used his bank, Olympic Business Systems LLC, to conceal assets for the purpose of evading taxes.
On his now-defunct Web site, Arant advertised his services to those "who would rather not deal directly with the banking system," court records said.
Full story here http://news.yahoo.com/s/ap/20070502/...warehouse_bank
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