Typhoon1244
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Attention embezzlers!
- Thread starter Typhoon1244
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Dizel8
Douglas metal
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Kind of sad, really.
"There are approximately 700 separate sections of the Tax Code that apply to individuals. There are over 1,500 separate provisions that apply to businesses. As of May 2000, before passage of the last two tax bills, the Tax Code contained 1,395,028 words – nearly 319 times the number of words in the Constitution. IRS Regulations contain over 8,551,444 words – over 11 times the number of words in the King James Bible. The IRS produces 649 separate forms, schedules, and instructions with approximately 16,100 lines. Publications providing guidance to taxpayers alone total about 13,400 pages."
"The percentage of top IRS managers who admitted they would use their position to intimidate personal enemies=50."
Even the IRS cannot figure it out! Trust me, I have had the misfortune of dealing with them and the dreaded audit.
Flat tax is the way to go!
Here are some sobering facts
"There are approximately 700 separate sections of the Tax Code that apply to individuals. There are over 1,500 separate provisions that apply to businesses. As of May 2000, before passage of the last two tax bills, the Tax Code contained 1,395,028 words – nearly 319 times the number of words in the Constitution. IRS Regulations contain over 8,551,444 words – over 11 times the number of words in the King James Bible. The IRS produces 649 separate forms, schedules, and instructions with approximately 16,100 lines. Publications providing guidance to taxpayers alone total about 13,400 pages."
"The percentage of top IRS managers who admitted they would use their position to intimidate personal enemies=50."
Even the IRS cannot figure it out! Trust me, I have had the misfortune of dealing with them and the dreaded audit.
Flat tax is the way to go!
Here are some sobering facts
Last edited:
Flying Illini
Hit me Peter!
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Typhoon1244
Member in Good Standing
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Typhoon1244
Member in Good Standing
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FN FAL
Freight Dawgs Rule
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http://customwire.ap.org/dynamic/stories/B/BRF_MADD_THEFT?SITE=WIMIL&SECTION=US&TEMPLATE=DEFAULT
MADD Chapter Founder Sentenced for Theft
JOLIET, Ill. (AP) -- A judge sentenced the founder of a local chapter of Mothers Against Drunk Driving to three years in prison for stealing more than $48,000 from the organization.
Antoinette Wilda, 48, was also ordered Wednesday to pay $48,460 in restitution. She was convicted of theft in January.
Defense attorney Phil Mock said he would appeal because Wilda had no prior record, performed good works in the community and suffered from depression. "We think the sentence is not appropriate," he said.
But Will County Circuit Judge Carla Alessio-Goode said Wilda was unrepentant and likely to commit other crimes.
Wilda was accused of the theft in September. Prosecutors said she stole fees paid by drunken drivers ordered by a judge to attend a victim impact panel, underreporting the number of participants to hide the thefts between January 2000 and March 2003.
An audit was launched after state MADD officials noticed the number of participants in the county appeared to be low.
Wilda started the MADD chapter with her husband after the couple's 15-year-old son was killed by a drunken driver.
Copyright 2004 Associated Press. All rights reserved.
We have 'em here in Georgia too.
Feds look into Fulton sheriff's $2 million mess
By MARK DAVIS, D.L. BENNETT
The Atlanta Journal-Constitution
Published on: 04/01/04
A $2 million investment Fulton County Sheriff Jackie Barrett made last year was not returned by a Wednesday deadline, touching off a federal investigation into how the sheriff invested millions in public money through a man she met at a Florida speaking engagement.
Barrett, meanwhile, vowed to "exhaust all means" to recoup the cash, even as calls for her resignation grew. She said she would not quit as the probe into her $7 million in investments headed for scrutiny by the U.S. Justice Department.
"People have a right to their opinion," Barrett said. "I am not resigning."
But Fulton County Commissioner Karen Handel, a frequent critic of Barrett, said Barrett cannot lead the Sheriff's Department and should resign.
"What I see is severe mismanagement and a serious lack of judgment," Handel said in a news conference 30 minutes after the county's 5 p.m. deadline for return of its $2 million. "That affects a person's ability to lead effectively."
The county money, requested in the form of a wire transfer, did not appear as requested, said Patrick O'Connor, Fulton's finance chief.
"What happens from here is up to the legal department," said O'Connor. "It's no longer in finance's hands."
The investigation also is in federal hands, Handel said.
"It's been referred to the U.S. attorney," Handel said. "We called and told them we thought there was enough information to warrant an investigation."
County documents were boxed up and taken to the U.S. attorney's office Wednesday, Handel said.
Federal officials could not be reached for comment Wednesday night.
Sheriff got donation
The loss of $2 million has roots in a February 2002 event in Fort Lauderdale, Fla., honoring the Rev. Martin Luther King Jr. Barrett, the first elected black female sheriff in the United States, was a guest speaker; Byron Rainner was a host.
Thirteen months later, in March 2003, Barrett invested more than $7 million in county money at the recommendation of Rainner — after the broker, his company and two business associates donated $4,000 to the sheriff's re-election campaign.
Rainner, according to county findings, invested about $5 million through MetLife, some of it in the form of stocks — a violation of state law, according to County Auditor Skip Remter.
Rainner gave the rest to Provident Capital Investments Inc., a Hollywood, Fla., investment firm. In February, it was transferred from there to the Miami-based Royal Institute of Finance.
According to the county auditor, both corporations had existed only a few months before receiving the millions — a fact that apparently bothered auditors and some of Barrett's colleagues. Remter first raised concerns within the county's Auditing Department about the possible investments in March 2003, about the same time Barrett wrote the $2 million check to Provident Capital.
In an audit investigation, one Sheriff's Department auditor termed the arrangement as "crooked from the get-go."
Part of the $2 million — $925,000 — was used to bankroll a pharmacy operation. The pharmacy, apparently bought with Fulton money, is shuttered, dark and for rent at a Plantation shopping center.
A lawsuit filed in Broward County Circuit Civil Court lays out that expenditure.
According to the suit, filed in October by Provident Capital President Michael Zein, Rainner approached Zein in March 2003 with a business deal. Rainner, said Zein, claimed he had a "substantial sum" of cash from the Fulton County Sheriff's Department that he could lend to Provident. Any profit Provident made from lending that money to other businesses would be split evenly between Rainner and Zein, the suit says.
Zein agreed, and in March his corporation received $2 million. A check signed by Barrett, payable to Provident, is dated March 26, 2003.
At Rainner's direction, the suit says, Zein lent $925,000 through Provident Capital to Lancelot James, president of XPress RX Pharmacy of Plantation. Rainner told Zein the pharmacy could guarantee the loan because it had a contract with two big customers — Jackson Memorial Hospital in Miami and the Fulton County Sheriff's Department, named in court papers as the "Fulton County Prison System."
The deal with the hospital and Fulton County never materialized, according to the suit, and XPress gave Zein back $250,000 of the money he lent to the pharmacy.
Now Zein is suing Rainner, James and the pharmacy corporation for the remaining $675,000, plus interest and a $15,000 penalty, alleging breach of oral contract, fraud and unjust enrichment.
More than $1 million of the $2 million that Barrett sent to Provident remains unaccounted for.
At some point — the timing is not clear — Barrett apparently became concerned about the investment with Provident Capital and asked that the money be returned.
Provident responded July 22, 2003, by sending Fulton County a $200,000 check as partial repayment. It bounced.
On Feb. 11, another financial organization, the Royal Institute of Finance, wrote the sheriff, telling her it had taken fiscal control of the $2 million investment she'd made with Provident 11 months earlier. Twelve days later, on Feb. 23, Barrett wrote to Provident, inquiring about the status of her investment.
"Please send a listing of all authorized signers on this account," she wrote.
It is not known whether she heard back.
MetLife returned most of the $5 million Rainner had invested with the insurance company on March 18. A statement accompanying the check notes the account had $5,344,601 before a $30 sales charge and $363,370 withdrawal charge were taken out. A deposit slip dated March 22 shows it going into a Sheriff's Department account at the Bank of America.
Officials are not so confident that will be the case with the money invested with Provident Capital.
On Wednesday, Handel said she spoke with Stephen Finta, the lawyer for Provident, who said the company didn't have the money to repay Barrett.
Now, said Handel, she wonders if the cash will ever come back.
"We don't know if, or to what extent, there has been criminal activity," she said.
Staff writers Richard Whitt, Michael Pearson and Steve Visser contributed to this article.
Feds look into Fulton sheriff's $2 million mess
By MARK DAVIS, D.L. BENNETT
The Atlanta Journal-Constitution
Published on: 04/01/04
A $2 million investment Fulton County Sheriff Jackie Barrett made last year was not returned by a Wednesday deadline, touching off a federal investigation into how the sheriff invested millions in public money through a man she met at a Florida speaking engagement.
Barrett, meanwhile, vowed to "exhaust all means" to recoup the cash, even as calls for her resignation grew. She said she would not quit as the probe into her $7 million in investments headed for scrutiny by the U.S. Justice Department.
"People have a right to their opinion," Barrett said. "I am not resigning."
But Fulton County Commissioner Karen Handel, a frequent critic of Barrett, said Barrett cannot lead the Sheriff's Department and should resign.
"What I see is severe mismanagement and a serious lack of judgment," Handel said in a news conference 30 minutes after the county's 5 p.m. deadline for return of its $2 million. "That affects a person's ability to lead effectively."
The county money, requested in the form of a wire transfer, did not appear as requested, said Patrick O'Connor, Fulton's finance chief.
"What happens from here is up to the legal department," said O'Connor. "It's no longer in finance's hands."
The investigation also is in federal hands, Handel said.
"It's been referred to the U.S. attorney," Handel said. "We called and told them we thought there was enough information to warrant an investigation."
County documents were boxed up and taken to the U.S. attorney's office Wednesday, Handel said.
Federal officials could not be reached for comment Wednesday night.
Sheriff got donation
The loss of $2 million has roots in a February 2002 event in Fort Lauderdale, Fla., honoring the Rev. Martin Luther King Jr. Barrett, the first elected black female sheriff in the United States, was a guest speaker; Byron Rainner was a host.
Thirteen months later, in March 2003, Barrett invested more than $7 million in county money at the recommendation of Rainner — after the broker, his company and two business associates donated $4,000 to the sheriff's re-election campaign.
Rainner, according to county findings, invested about $5 million through MetLife, some of it in the form of stocks — a violation of state law, according to County Auditor Skip Remter.
Rainner gave the rest to Provident Capital Investments Inc., a Hollywood, Fla., investment firm. In February, it was transferred from there to the Miami-based Royal Institute of Finance.
According to the county auditor, both corporations had existed only a few months before receiving the millions — a fact that apparently bothered auditors and some of Barrett's colleagues. Remter first raised concerns within the county's Auditing Department about the possible investments in March 2003, about the same time Barrett wrote the $2 million check to Provident Capital.
In an audit investigation, one Sheriff's Department auditor termed the arrangement as "crooked from the get-go."
Part of the $2 million — $925,000 — was used to bankroll a pharmacy operation. The pharmacy, apparently bought with Fulton money, is shuttered, dark and for rent at a Plantation shopping center.
A lawsuit filed in Broward County Circuit Civil Court lays out that expenditure.
According to the suit, filed in October by Provident Capital President Michael Zein, Rainner approached Zein in March 2003 with a business deal. Rainner, said Zein, claimed he had a "substantial sum" of cash from the Fulton County Sheriff's Department that he could lend to Provident. Any profit Provident made from lending that money to other businesses would be split evenly between Rainner and Zein, the suit says.
Zein agreed, and in March his corporation received $2 million. A check signed by Barrett, payable to Provident, is dated March 26, 2003.
At Rainner's direction, the suit says, Zein lent $925,000 through Provident Capital to Lancelot James, president of XPress RX Pharmacy of Plantation. Rainner told Zein the pharmacy could guarantee the loan because it had a contract with two big customers — Jackson Memorial Hospital in Miami and the Fulton County Sheriff's Department, named in court papers as the "Fulton County Prison System."
The deal with the hospital and Fulton County never materialized, according to the suit, and XPress gave Zein back $250,000 of the money he lent to the pharmacy.
Now Zein is suing Rainner, James and the pharmacy corporation for the remaining $675,000, plus interest and a $15,000 penalty, alleging breach of oral contract, fraud and unjust enrichment.
More than $1 million of the $2 million that Barrett sent to Provident remains unaccounted for.
At some point — the timing is not clear — Barrett apparently became concerned about the investment with Provident Capital and asked that the money be returned.
Provident responded July 22, 2003, by sending Fulton County a $200,000 check as partial repayment. It bounced.
On Feb. 11, another financial organization, the Royal Institute of Finance, wrote the sheriff, telling her it had taken fiscal control of the $2 million investment she'd made with Provident 11 months earlier. Twelve days later, on Feb. 23, Barrett wrote to Provident, inquiring about the status of her investment.
"Please send a listing of all authorized signers on this account," she wrote.
It is not known whether she heard back.
MetLife returned most of the $5 million Rainner had invested with the insurance company on March 18. A statement accompanying the check notes the account had $5,344,601 before a $30 sales charge and $363,370 withdrawal charge were taken out. A deposit slip dated March 22 shows it going into a Sheriff's Department account at the Bank of America.
Officials are not so confident that will be the case with the money invested with Provident Capital.
On Wednesday, Handel said she spoke with Stephen Finta, the lawyer for Provident, who said the company didn't have the money to repay Barrett.
Now, said Handel, she wonders if the cash will ever come back.
"We don't know if, or to what extent, there has been criminal activity," she said.
Staff writers Richard Whitt, Michael Pearson and Steve Visser contributed to this article.
Typhoon1244
Member in Good Standing
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- Posts
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captainv
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- Joined
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