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Los Angeles (April 22, 2002) -- Seven peoples associated with a tax fraud group known as "We the People" and " Sovereignty Pure Trusts" have been arrested on federal charges related to the promotion of bogus tax shelters that falsely promised to limit exposure to federal income taxes.Lynne Meredith, 52, of Sunset Beach, Calif., the owner and operator of We the People and Sovereignty Pure Trusts, and six others were charged with selling books and bogus trusts to people with the purpose of leading them to believe they could legally protect income and assets from taxation. We the People sold the "trusts" for approximately $500 at seminars that were held throughout the United States and internationally.
Michael S. Kochmanski, Special Agent in Charge of the Los Angeles Field Office of IRS-Criminal Investigation, stated: "Meredith misled numerous people into believing that the tax shelters she was selling would legally keep them from having to pay income taxes. Instead many of these people now find themselves owing back taxes, penalties and interest. The public should be wary of anyone who says that they have a way to keep you from having to pay income taxes."
The case against the promoters of We the People and Sovereignty Pure Trusts is the result of a continuing investigation by IRS-Criminal Investigation. Victims who purchased trusts or books issued by this group are encouraged to contact IRS-Criminal Investigation at (949) 389-4466.
-- Electronic Accountant Newswire staff
