Read the full story here Web Link posted Wednesday, March 5, 2014, 7:35 AM
https://n2v.almanacnews.com/square/print/2014/03/05/portola-valley-man-sentenced-for-tax-evasion
Town Square
Portola Valley man sentenced for tax-evasion
Original post made on Mar 5, 2014
Read the full story here Web Link posted Wednesday, March 5, 2014, 7:35 AM
Comments
Posted by Vlae Kershner
a resident of Menlo Park: The Willows
on Mar 5, 2014 at 9:44 pm
a resident of Menlo Park: The Willows
on Mar 5, 2014 at 9:44 pm
How can he be sentenced to STATE prison after a federal prosecution?
Posted by what about the bank
a resident of Menlo Park: Downtown
on Mar 5, 2014 at 10:16 pm
a resident of Menlo Park: Downtown
on Mar 5, 2014 at 10:16 pm
How did UBS have no clue that this was dirty money? Why can't the Feds go after them for money laundering?
Posted by Dave Boyce
Almanac staff writer
on Mar 6, 2014 at 9:41 am
Dave Boyce is a registered user.
Almanac staff writer
on Mar 6, 2014 at 9:41 am
Dave Boyce is a registered user.
Thank you, Vlae Kershner, for pointing out the discrepancy. A state prison term included in a federal sentence is indeed incongruous and an error in the story, now corrected.
Posted by Kristin
a resident of Menlo Park: Downtown
on Mar 8, 2014 at 10:41 am
a resident of Menlo Park: Downtown
on Mar 8, 2014 at 10:41 am
It wasn't dirty money, it wasn't money laundering, it was legal source income that simply wasn't reported. There's a difference.
What I want to know is how did he get nailed for things that happened past the statute of limitations? It sounds like he had to pay tax/penalties for the 2001-2005 income, but civil liability and criminal prosecution is limited to 6 years from the last offense. That puts the cut off in mid 2012. The only thing I can conclude is that either the DOJ got an extension on the SOL which makes you wonder why have an SOL at all, or they got the indictment in before the 2005 SOL expired and then leveraged the tax on the prior years as part of the plea.
The other thing I don't get is how this guy who didn't report $650k got a year in prison when Ty Warner hid $100 mil and got 2 years probation, Mrs. Curran in FL hid 42mil and got 5 mins of probation. It seems to be an inverse correlation. The more you have and the more you hid, the worse your crime, the lower your punishment. That doesn't seem right to me. It seems the guys hiding tens of millions or more should get a much stronger sentence than the ones hiding a few thousand.
