From Dallas Express · Dallas Express · · 1m 10s
Four Texans Indicted in $200M Tax Scheme
Four Texas residents face federal charges after allegedly sheltering $1.5B in income through fake trusts.
In brief
Four Texas residents face federal charges after allegedly sheltering $1.5B in income through fake trusts. Four Texans were indicted for a tax scheme that allegedly sheltered $1.5 billion in income from taxes. Originally reported by Dallas Express.
Indictment Details
Federal prosecutors allege four texas residents promoted a fraudulent trust scheme to shelter over $1.5 billion in income from taxation.
Luxury Purchases Alleged
MacDonald diverted $2 million in investor funds to purchase a rolls royce ghost and make a down payment on a yacht.
How the Scheme Worked
Defendants sold high-income clients complex trust arrangements that purportedly shielded 90% of their income from taxation while allowing them to retain asset control.
Tax Evasion Charges
All four face conspiracy to defraud charges, with some facing up to five years in prison if convicted.
Specific Charges
MacDonald and Duren face tax evasion charges carrying up to five years per count, while Cayce faces four counts of filing false returns.
IRS Involvement
Weickgenant allegedly obstructed irs audits by instructing clients not to speak with investigators.
The big picture
Four Texans were indicted for a tax scheme that allegedly sheltered $1.5 billion in income from taxes.
