Discussion in 'Wall St. News' started by tomhaden, May 22, 2006.
Read the article here: Celebrity market guru arrested
HAHA, I love watching snake oil salesmen get burned. What I think is interesting in the article are the amounts he is getting paid to do seminars around the world. I guess people everywhere have money to burn.
A never ending long line of suckers who want and think they can 'get rich quick'.
Having said that I was once one of those suckers many years ago before I learnt
If convicted, that loss amount puts him in the 4-5 year sentencing range under federal guidelines.
When is one safe from an audit? How many years have to pass or is there no limit to how far back the IRS can go?
I believe it depends. For a mechanical error I think three to five years. For fraud or not filing its alot longer like 15 I think.
There is no statute of limitations on monies owed the federal govt. Charlie Chaplin was an example of this. There is much missing from this story. It says he was negotiating with them , they can easily sieze all assets . They wouldn't snatch you in a foriegn country unless they thought you were fleeing and had removed assets from the US. Something is amiss and not clear in the story. He is a criminal now.
The newspapers over here seem to vary a little in the story.
It always pays to be aware that News=Entertainment and the focus is on selling tv, newspaper or radio adverts not on truth
The richer they get, the cheaper they become. Guess Why?
He hasn't been convicted of anything yet.....thus he is not a CRIMINAL! You don't even stand a chance against the IRS though
As a researcher, Larry is one of the best. He is one of the few out there who actually trades. His material, has made me money, and continues to make me money. That's all that matters in our business.
As for the IRS tactics....this is complete BS.
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