Offshore Tax Fraud: Lessons Learned From 'The USA v. The Billionaire Wyly Brothers'
For decades, aggressive tax evasion strategies have been used by sophisticated investors and businesses to hide income and lower tax bills, usually through the use of proven failed methods. This session will review the massive offshore tax fraud committed by the billionaire Texas business moguls Samuel Wyly and Charles Wyly, and the numerous financial planning errors that caused their collapse, including improperly-used offshore trusts, lack of minimal disclosure, overly complex structures, failed tax strategies and the inability to use current aggressive tax avoidance methods as a substitute.
Founder, Concorde Associates & Retired Senior Special Agent, IRS Criminal Investigation, Offshore Coordinator (Miami)
Partner, Marcus Neiman & Rashbaum (Miami)