Word: scammed
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Dates: during 1990-1999
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...faces a maximum of 725 years in prison and $24.25 million in fines for paying bills with over $1.8 billion in bogus Republic of Texas financial documents. McLaren's wife, Evelyn, faces up to 155 years in jail and $5.2 million in fines for her role in the scam. The couple is currently sharing a jail cell in Marfa, about 30 miles from the site of the standoff...
...dismay of our shareholders and others that the gold we thought we had at Busang now appears not to be there." That was the Captain Renault-esque reaction of Bre-X head David Walsh to an independent report calling the once highly-touted Busang, Indonesia lode the biggest scam in the history of mining. In its report released Sunday, Strathcona Mineral Services said that gold from outside sources had been added to the crushed rock core samples that Bre-X had gathered as evidence of the supposed 200 million ounces of gold at Busang. Trading...
...filed 145 false returns, using W-2 forms, fictitious names and phony Social Security numbers to get refunds for the phantom taxpayers. He too received refund anticipation loans. When the IRS began to improve its control on Social Security numbers, Hersch started using real numbers to perpetrate the same scam. All told, he filed 431 false electronic returns claiming refunds of $1,131,241. He was nabbed after the IRS raided his office in 1993, and is serving five years in a federal prison. No one knows how many folks pulled off this ruse, but it is safe...
Another sublimely uncomplicated scam involved the earned-income tax credit (EITC), which gives a tax credit to low-income families for each of their children. No complex accounting rigmarole here. Thousands simply gave birth to paper children on their tax forms and immediately got their "credit" in checks from the IRS. The cost: "a couple of billion," according to former IRS Commissioner Larry Gibbs. But that is almost certainly a lowball figure. According to the restructuring commission, at least a quarter of the more than $25 billion in refunds went to people who were simply ineligible, and an additional...
...People told me it was a scam, but it's legit," he says. The company trained him and helped him with the logistical work...