kcjenkins Posted September 29, 2009 Report Posted September 29, 2009 http://www.couriernews.com/story.php?ID=22717 This guy really had 'moxie'. Hagerty engaged in improper tax procedures beginning in 1999, according to the release, and, since 2002 — when he became aware of the IRS investigation — operated his investment company under at least nine names, including Global One Inc. and Premier Investments Property. Between 1999 and 2004, he understated income by about $3,952,010 and, between 1999 and 2001, overstated expenses by about $593,000, according to the release. Hagerty, originally charged with eight counts in connection with the scheme, pleaded guilty Friday to two. Quote
ed_accountant Posted September 29, 2009 Report Posted September 29, 2009 I would think the fine and jail time would be longer ! Quote
jainen Posted September 30, 2009 Report Posted September 30, 2009 >>I would think the fine and jail time would be longer ! << Well, it's federal prison, not jail. And the system isn't doing that good a job with terrorists and criminals who destroy other people's lives, so I can't see how locking up victimless capitalists will accomplish much at all. Strip him of his ill-gotten gains, of course, but then structure a probation plan that gets his skills back on course. I mean, we got some big problems, and this two-count, cooperative cheater is not worth a lot of judicial resources. Vengeance is a luxury we simply can't afford. Quote
mlinder42 Posted September 30, 2009 Report Posted September 30, 2009 Only a time in jail will teach some people to do the correct thing. I have done returns for 2 people who were tax protesters and the time in jail is what forced them to do their returns. They were told no parole without filed returns. Quote
jainen Posted September 30, 2009 Report Posted September 30, 2009 >>no parole with out filed returns<< That's my point. What got those returns filed was not the incarceration, but the parole. Quote
kcjenkins Posted October 1, 2009 Author Report Posted October 1, 2009 I agree with Jainen on this one. Some jail time, sure, but it will not take long to have them learn the error of their ways. Long prison sentences should be for violent criminals, pedophiles, etc. 1 year or even less will totally reform most white collar criminals, longer may well teach them to become better crooks. Taking them out of society for too long also reduces their ability to repay. OF course, someone who is an extreme case, like Maddoff, should spend the rest of his life behind bars. But that is a clear exception, and I admit that is more about vengeance than about sensible protection of society. Quote
ed_accountant Posted October 1, 2009 Report Posted October 1, 2009 Good points.. You are right. Thanks Quote
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