It is certainly a crime to dupe the government. What’s more, when the nation is at stake and it gets difficult to conduct the daily operations thanks to the dearth of money, it’s the duty of every citizen to come forward. There is no doubt in it that this is a national cause. What may happen if the reverse is found on one fine morning? It may shock the country along with the governance. Well, the same has happened in the realm of US owing to the noted billionaire R. Allen Stanford and his wife Susan. The couple, in accordance with the tax liens filed on their properties in Texas and Florida last year, owes the U.S. government more than $104.2 million in back taxes.
It is worthwhile to mention that this is twice than what was previously reported. On the other hand, as stated by filings with the U.S. Tax Court, the total exceeds the $56 million the IRS assessed the couple after auditing their tax returns for 1999-2003. It is said that the total has been growing steadily as penalties and interest are added. All these led to the episode that was expected and Allen Stanford was sued Feb. 17 by the Securities and Exchange Commission. He was accused of securities fraud involving $8 billion in customer accounts.
Two almost identical liens were filed in addition as Stanford was found to negotiate a settlement with the agency. While one of them was in Houston on July 15, 2008, the other one was in Miami on Aug. 12, 2008. The Florida lien is $32,000 more than the one filed a month earlier in Texas which indicates that the IRS left no stone unturned to add penalties and interest.
There is no doubt in it that this one of the gravest crimes happened against the US and has dampened its spirits to a large extent. But it has also shown the extent of a felonious brain.
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