Investors in R. Allen Stanford’s Antiguan bank may have to get in line behind the Internal Revenue Service as they seek to recover money from the alleged swindler.
The IRS asked a judge to let it continue to seek at least $226.6 million in back taxes from Stanford, the Texas financier accused of running an $8 billion Ponzi scheme.
The motion was filed on March 13 in the U.S. District Court in Dallas, where a court-appointed receiver is sorting out claims for more than $1 billion in assets frozen in customer accounts and in gold coins and bullion seized last month.
IRS Seeks To Recover $227 million In Unpaid Taxes From Stanford
Wow. I’m glad that they were on the ball on a man who owes almost a quarter of a BILLION in back taxes. He has owed back taxes dating to 1999!!! How much taxes is that? Like the entire LIFETIME tax debt of 500-1000 average Americans? Maybe if the IRS had moved faster on collecting the back taxes that he owed, they could have uncovered his scam (totaling a bout 8 BILLION dollars) years earlier and could have save thousands of investors’ life savings (and about a 2-3 BILLION in lost tax revenue to the IRS…remember, the losses from Stanford’s investors will be tax write-offs). You know I owed the IRS about a grand ($1000.00) once. I made a mistake on my income tax filing. Three months after I filed they were on me like white-on-rice to pay the money back. You would have thought that I had just robbed the U.S. Mint the way they hounded me. Guess it doesn’t work like that for people like Stanford who only owe a couple of bucks.