Friday, February 20, 2009

Sir Stanford Owes Over $100 Million In Taxes, Wants To Be Considered For Treasury Secretary Post

Failed fugitive and successful criminal mastermind Allen Stanford, together with his wife Susan, who may or may not be the "girlfriend" he was with during his Virginia capture, owes the U.S. $104.2 million in back taxes, more than double the previously reported amount of $56 million, according to tax liens filed on Texas and Florida properties. Stanford had previous IRS tax issues in 1997, when he lost a tax court case in which he was found guilty for not filing a 1990 tax return and owed $442,000 in taxes related to his ownership of Guardian International Bank, a bank he had set up in the British West Indies. Hilariously, Stanford claimed he failed to file tax returns because records were destroyed by hurricane Hugo in 1989, yet that had not prevented him from filing a 1989 tax return.

Stanford, who believes the best defense is an offense so retarded your enemy's brain turns to mush, sued preemptively the IRS to contest the agency's contention that he and his wife "itemized deductions improperly, wrongly classified capital gains as losses, and attempted to carry forward more than $4.1 million in net operating losses in violation of tax laws."

If Sir Stanford had not ended up getting all caught up in running some small time Ponz, he would definitely have been the number one contender for the position of Secretary of the Treasury. Sphere: Related Content
Print this post

2 comments:

Broken said...

Maybe in the Bush administration.

Anonymous said...

Turbo Tax goes horribly wrong...