A Doctor, A Lawyer & Bricks Of Cash” revealed the role a Liechtenstein trust had in maintaining a secret Swiss bank account.  The February 3, 2010 superseding indictment of former attorney Micaela Renee Dutson and her husband Tony Dutson, too raised the issue of trusts and hidden assets. This indictment depicted below, accused the Dutsons of selling more than 150 trusts in order to conceal millions from the IRS.  Page 2, paragraph 4 of the indictment alleged the Dutsons sold these trusts to their clients as part of fraudulent asset protection schemes:

“Defendants falsely advised clients that they could legally avoid paying taxes by putting their assets and income into the so-called ‘trusts’ that they sold. Defendants also falsely told clients that by putting their assets and income into the so-called ‘trusts,’ they could legally protect assets from seizure by creditors, including the IRS.”

Among other things, the indictment claimed that the Dutsons counseled clients to transfer title of real estate and vehicles to the names of trusts.  By doing this, the clients supposedly concealed their beneficial ownership of assets; and the clients could then lease their assets from the trusts.  On June 11, 2010 the Dutsons were convicted of several federal charges, including violations of 26 U.S.C. §7206 {2}), (assisting the filing of false tax returns).  As the March 9, 2011 entries at the Dutson’s docket report show, the Dutsons were each sentenced to 120 months in prison.

(CLICK ON THE INDICTMENT TO READ IT)

(Edited January 30, 2012)

Copyright 2011 Fred L. Abrams