Fusion 360
To most, taxes are Uncle Sam’s ineluctable hand, probing deep into individual pockets to benefit the nation as a whole. But to these criminals, Uncle Sam’s arm will only draw back a stump upon its attempt to mess with them. Who needs a tax planning expert in the underworld of crime? Thankfully, none of these infamous criminals hails from Utah. Beware: the tales of these men are as arresting as their sentences.
After acquiring several insurance companies through a private trust, he stole anywhere from $200 million to upward of $1 billion from others’ holdings. The result was a measly 16 years in jail. Tax planning was never brought into question for this criminal.
Utah businesses are clean cut compared to anything, but they make Enron look like the Charlie Sheen of financial reporting. Through various accounting loopholes, they covered up millions of dollars in debt from squandered deals.
Trained as a currency trader, Rusnak took advantage of the Yen, believing it would consistently earn value against the U.S. dollar. The catch? He forgot to hedge his forwarding contracts and entered false stock options into a database to sheath his mistake. It’s estimated he stole $700 million, none of which went to tax planning experts.
He forged over 30,000 trading slips and expected to evade jail time. However, much like a typical Utahan would do, Iguchi apologized contritely in a confession letter to the bank of Japan.
The patron saint of unauthorized speculative trades world wide, Leeson will likely be Satan’s mistress in hell, where no tax planning expert will hear his screams.
He is the most powerful lobbyist of all time, albeit his power only manifested itself in corruption. Although republican, his clandestine ways are foreign to Utah and its seemingly spot free morality.
He reinvented the “Ponzi Scheme,” and is now serving 150 years in federal prison for it.
James O’Connor is a writer at Fusion 360, an advertising agency in Utah. He writes for York Howell and many other clients.
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