Global prosperity was an MLM with an
information-based product that educated the poor and middle class on
how to manipulate tax advantages like the rich.
The problem with this type of tax manipulation is
that it is often illegal. You have to actually be rich in order to
do things that are illegal for the poor and middle class. No . . .
but seriously folks! Global Prosperity was providing information
that was at best mediocre in the eyes of a seasoned and
sophisticated investor. The tape set was sold for thousands of
dollars and the seminar was usually held in the Bahamas.
The creator of this program, Keith Anderson, fled the
US authorities to Costa Rica. Keith was offering off-shore
sheltering and alternative trust funds to MLM members and is
considered by the IRS to have racketeered one of the largest
off-shore trust fund scams in history.
My friend Matt Gagnon was
contacted by David Starkey, who actually went to jail by practicing
the methods sold by Global prosperity and the Institute for Global
Prosperity.
We have included his letter on this website.
Many MLM’s even put disclaimers at the bottom of
their promotions that say ‘Not Global Prosperity’. That is a very
bad reputation. Below is an expose on abusive trusts and tax scams.
Fraudulent Foreign and Domestic Trusts
Promoters of abusive trusts can lead innocent taxpayers to financial
ruin.
The bottom line: "Don't Buy In!"
What Is An Abusive Trust?
Establishing a foreign or domestic trust for the purpose of hiding
income and assets from taxation is illegal. Abusive Trust Schemes
typically involve the creation of one or more trusts into which the
taxpayer transfers his or her personal and/or business assets and to
which the taxpayer assigns his or her income. The taxpayer, the
promoter, or someone who will allow the taxpayer in reality to
control the activities of the trust is then assigned as the trustee.
The Facts About Trusts
-
A trust is a
form of ownership which completely separates responsibility and
control of assets from all the benefits of ownership
-
Trusts are
used in such matters as estate planning; to facilitate the
genuine charitable transfer of assets; and to hold assets for
minors and those unable to handle their financial affairs
-
All trusts
must comply with the tax laws as set forth by the Congress in
the Internal Revenue Code, Sections 641-683
-
Violations
of the Internal Revenue Code may result in civil penalties
and/or criminal prosecution
-
Civil
sanctions can include a fraud penalty up to 75% of the
underpayment of tax attributable to the fraud in addition to
the taxes owed
-
Criminal
convictions may result in fines up to $250,000 and/or up to
five years in prison for each offense
-
Taxpayers
are responsible for payment of their taxes as set forth by
Congress regardless of who prepares their return
IRS Issues Warning
Income cannot be shifted to another entity for tax purposes and must
be reported by the individual who earned it. In addition, personal
living expenses which were not deductible prior to the creation of a
trust are not deductible by virtue of assignment of assets and
income to a trust. No matter how carefully the trust documents are
drafted, if the intent of the trust is to avoid taxes, the trust
will be treated as a sham.
In
April 1997, the Internal Revenue Service issued
Notice 97-24 and Information Release 97-19 warning taxpayers to
avoid abusive trust schemes that promise bogus tax benefits, and to
take steps to correct past participation in such trusts.
DANGER ALERT:
We could not say enough about the
electronic ecurrency exchange
merchant program, so we put up
another website dedicated
to the future of global
ecurrency (electronic
currency) and the ecurrency exchange merchant business
opportunity program. This is by far the most powerful money
making system we have ever seen. By the amount of time it takes
to learn, it is also the most "realistic" opportunity we have
ever seen. It is well worth spending the
30 days to learn this system.
The ecurrency exchange
merchant opportunity is not really a "get-rich-quick" program
which is why we gave it
our
five star rating.
If you have any
questions please visit our ecurrency website called
http://www.ecurrency.tv
and join our mentoring group where you will avoid the pitfalls
that we spent years collectively learning. Call us at
608-254-7070 and ask to speak to Leroy, Russell or Jean. Leroy
runs our Ecurrency Merchant
Exchange business full time.
We have the most powerful
Ecurrency Merchant Trading "Online VideoTraining" mentorship
programs on the market. You will also have access to real people
not just automated videos and "fly by night" Camtasia tutorials.
The folks you will meet learning this system you will know for
many years.
When you buy our
start up training package, it is only the beginning.
You will learn in DAYS what it has taken some of us YEARS to
learn. You will not find a more skilled, concise, or educated
Ecurrency Merchant Exchange think-tank mentoring system on the
web!
We can't wait to meet you
and
get started!
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