Posted on March 24, 2004 by Jonathan Alper

Beware Offshore Tax Scams

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An Utah man will spend 10 years in federal prison for scamming more than 50 investors out of nearly 15 million dollars. Kirk Koskella was sentenced earlier this month in Utah for his role in setting up honey "offshore trusts" in the 90's to reduce tax liability for investors in several states. Koskella is the first of eight people charged in the Ponzi-type scheme to be sentenced.

The story illustrates, once again, the offshore trust planning should not be used to hide money from the IRS or as part of any attempt to reduce income tax liability.

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Garry Meyr - May 29, 2005 6:27 PM

Another example of the laws. It says "We the people....", but the real statement is "This goverment shall take...."

So when it comes to your turn to get assets taken from you like this, your going to be pissed off. Your reading where they have a justifiable reason to take the money as in this story but what they are not saying is the fact that they will pass another law to impose this to ithers that are innocent.

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