I cite Ty Warner in my book, an exceptionally good man, with the skill of turning a fad into a mania, a man who was probably the first small business billionaire.
He had so much money coming in that he was buying such properties as the Four Seasons resort in New York City, with cash. He placed $100 million or so, in one of very many placements with the UBS Swiss bank which decided to finger customers secretly to save their own skins.
Here is the problem. Once you plead "guilty" as a tactical matter, and then the feds shift the game, if you go back and change your plea, given the new rules, it looks very bad, and the powers that be make an extraordinary example of you. This is a complex but common example of the lawlessness we live under.
Warner tried to set the situation right, no doubt calculating that no matter how bad the fines, since he normally gives it away anyway, and he's paid over a billion in taxes anyway, what's a hundre millions in back taxes and fines more?
They want to imprison him. And here is some more info... He deserves a pass....
Richard Pryor got into tax problems too... listen to the 3rd or so bit... (NB: waterfront saltiness)
Feel free to forward this by email to three of your friends.
He had so much money coming in that he was buying such properties as the Four Seasons resort in New York City, with cash. He placed $100 million or so, in one of very many placements with the UBS Swiss bank which decided to finger customers secretly to save their own skins.
Here is the problem. Once you plead "guilty" as a tactical matter, and then the feds shift the game, if you go back and change your plea, given the new rules, it looks very bad, and the powers that be make an extraordinary example of you. This is a complex but common example of the lawlessness we live under.
Warner tried to set the situation right, no doubt calculating that no matter how bad the fines, since he normally gives it away anyway, and he's paid over a billion in taxes anyway, what's a hundre millions in back taxes and fines more?
They want to imprison him. And here is some more info... He deserves a pass....
Richard Pryor got into tax problems too... listen to the 3rd or so bit... (NB: waterfront saltiness)
Feel free to forward this by email to three of your friends.
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