Free Site Registration


‘Global Prosperity’ Tax Scheme Promoter Banned

Washington, D.C. (August 17, 2009)

A federal court in Seattle has permanently barred a prison inmate from promoting a tax avoidance scheme that attracted over 44,000 customers and earned over $50 million.

The Justice Department said that Daniel Andersen, founding member of the Institute for Global Prosperity, has been permanently enjoined from promoting the scheme. Andersen and co-founder David Struckman started the institute in 1996.

The group charged customers $1,250 for a 12-part audio course that explained various theories about why they did not have to pay federal income taxes. The government labeled the theories “nonsense.”

Advertisement

Andersen is currently in federal prison in Lompoc, Calif., in connection with his promotion of the scheme. Other tax avoidance promoters sold their schemes at conferences organized by Global Prosperity. Many of these vendors have also been sentenced to prison for federal tax crimes. Global Prosperity charged as much as $37,000 to attend such conferences, according to the Justice Department.

0 Comments

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Accounting Today, please use the form below to login. When completed you will immeditely be directed to post a comment.

 

Advertisement
Advertisement

FASB Chair Leslie Seidman on Convergence with IFRS

February 1, 2012

Financial Accounting Standards Board chairman Leslie Seidman provides an update on the progress FASB is making on converging U.S. GAAP with IFRS.

Advertisement

SLIDE SHOW

Most Unusual Items Submitted on Employee Expense Reports

January 19, 2012

The results are bound to raise the eyebrows of any financial executive.

10 Stories That Shaped 2011

December 29, 2011

Our editors' picks for the 10 stories that shaped accounting in 2011.

Advertisement
Advertisement
Advertisement