Appellate Court Affirms Offshore Trust Promoter’s Conviction and US Arrests Fugitive Wanted in Offshore Trust Scheme

On June 15, 2001, the U.S. Court of Appeals for the Ninth Circuit affirmed the conviction of an offshore trust promoter for conspiracy to defraud the IRS and helping his clients evade taxes by preparing fraudulent and false tax returns. Meanwhile on August 17, 2001, the U.S. Department of Justice and the Internal Revenue Service’s Criminal Investigation Division have arrested in Olympia, Washington, one of two fugitives charged in a criminal complaint with conspiracy to launder U.S. $470,000, most of it through an offshore trust program allegedly used by clients to move and conceal millions of dollars overseas in a device to avoid payment of U.S. taxes on the funds…[more]