Federal Court Shuts Down So-Called “Warehouse Bank”
Lawyer Blogs
[##_1L|1201677052.jpg|width="150" height="153" alt=""|_##]A federal court in Seattle has shut down a nationwide “warehouse banking” scheme whose promoter falsely promised customers they could legally hide their income, assets, and identities from the Internal Revenue Service, the Justice Department announced today. The warehouse bank, known as Olympic Business Systems (OBS), is operated by Des Moines, Wash., resident Robert Arant. The court order, called a preliminary injunction, was signed on April 27 by Judge Marsha J. Pechman of the U.S. District Court for the Western District of Washington. A temporary restraining order freezing Olympic’s assets was previously signed on April 17 by Chief Judge Robert L. Lasnik. The court orders were initially filed under seal, but the court today ordered them unsealed.
In papers filed in support of obtaining the injunction, the government alleged that Olympic deposited almost $28 million of customer funds into accounts that OBS maintained in its own name at commercial banks. Olympic allegedly used the funds to pays customers’ bills and expenses while promising to leave no paper trail.
Judge Lasnik’s order held that Arant “is or should be aware that courts have repeatedly held that warehouse banks are tax evasion schemes.” A California federal court in 2004 permanently closed a similar warehouse bank. Details about that case are available at http://www.usdoj.gov/tax/txdv04785.htm. In 2005 a federal court in Oregon sentenced operators of a warehouse bank to prison, after their criminal convictions. Details are available at http://www.usdoj.gov/tax/txdv05070.htm.
WWW.USDOJ.GOV
Related listings
-
Gonzales gave aides power to hire, fire appointees
Lawyer Blogs 05/01/2007[##_1L|1349219371.jpg|width="140" height="112" alt=""|_##]Deputy Attorney General Paul J. McNulty told congressional investigators that he had limited involvement in the firing last year of eight U.S. attorneys and that he did not choose any to be re...
-
Supreme Court Backs Police in Chase Case
Lawyer Blogs 04/30/2007[##_1L|1318291473.jpg|width="180" height="122" alt=""|_##]The Supreme Court on Monday gave police officers protection from lawsuits that result from high-speed car chases, ruling against a Georgia teenager who was paralyzed after his car was run off ...
-
U.S. court to decide case of Mexican on death row
Lawyer Blogs 04/30/2007[##_1L|1029053113.jpg|width="130" height="98" alt=""|_##]The U.S. Supreme Court said on Monday it would decide whether President George W. Bush had the authority to direct a state court to comply with an international tribunal's ruling in the case of...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .