Telecom entrepreneur sets up offshore accts to hide $450m from taxes -- gets busted
 

"An American businessman alleged to have hidden nearly half a billion dollars in earnings in offshore accounts has been arrested by US authorities and charged with tax evasion, obstructing the Internal Revenue Service and fraud.

It is the biggest criminal tax fraud prosecution in US history.

Walter Anderson, a telecommunications entrepreneur who used the pseudonym Mark Roth, was arrested on Saturday at Washington's Dulles airport after arriving from London.

He was charged with evading more than $200m in taxes over five years and faces up to 80 years in prison if found guilty. He reportedly pleaded innocent.

An art collector who frequented Christie's in New York and London, Mr Anderson allegedly hid more than $450m in profits from federal and local authorities by creating an elaborate network of offshore investment companies, disguising his ownership of the two primary companies Gold & Appel and Iceberg Transport and concealing his US citizenship."

full story

Theres a message to all you guys who want to set up offshore accounts to avoid taxes...

yeah, support politicians.

Its better than spending half your life in jail at the expense of the people who actually do pay their taxes.

vote libertarian

gotta love tax dodgers

Ouch
Money is no good in jail

Follow up on the story. IRS can't touch offshore! Just scare tactics.

damn heh. that would suck