After 20 Years, Missing CEO Reappears (accused of tax evasion)

[alp227]

Source: The Wall Street Journal

For more than 20 years, tech tycoon William H. Millard was one of the world's most elusive tax exiles, leaving financial footprints in Singapore, Ireland and other locales while racking up an unpaid tax bill of more than $100 million.

The 79-year-old founder of the ComputerLand Corp. retail chain was last seen by tax authorities on the remote Pacific Island of Saipan, where he lived, in August 1990. A few years after selling his company, the man once listed as one of the richest people in America suddenly vanished.

Until now. The U.S. Commonwealth of the Northern Mariana Islands, of which Saipan is a part, has tracked Mr. Millard and his wife to a yellow mansion on Grand Cayman Island in the western Caribbean, according to court filings and attorneys working on the case.

With help from a New York law firm and a small army of private investigators, the commonwealth now is digging into what its lawyers say is a network of more than 50 shell companies, trusts and bank accounts linked to Mr. Millard in hopes of collecting the $100 million.

Read more: http://online.wsj.com/article/SB10001424053111904900904576554832511658872.html

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[LoZoccolo]

1. He was into est. n/t

[bluestateguy]

2. For a second I thought it was Marc Rich

nt

[OswegoAtheist]

3. Maybe the Repukes are right....

With help from a New York law firm and a small army of private investigators, the commonwealth now is digging into what its lawyers say is a network of more than 50 shell companies, trusts and bank accounts linked to Mr. Millard in hopes of collecting the $100 million.

Given the law enforcement and government officials tasked with tracking him down, and now the "small army of private investigators", it sounds like Mr. Millard created some high-paying jobs over the past decade. Proof positive that when the rich pay less in taxes, employment magically rises.

Oswego " :sarcasm: " Atheist

[NBachers]

4. Must've read the Robert Vesco handbook

[SpiralHawk]

20. Which is based on Republicon Family Cesspool Values (R)

...as everyone knows...

[No Elephants]

5. Was Ken Lay there, too?

[mopinko]

6. whose mansion do you think he was staying in?

[Occulus]

8. Nobody will EVER convince me that Ken Lay didn't do the same damn thing

I'll have to see the dried-up corpse myself before I'll ever accept that man is actually dead.

[madokie]

9. They showed someones ashes as proof

best I remember. They burned his ass shortly after he supposedly died. I don't believe a word of the official story on kenny boy. That mo'fo' is alive and well as sure as I am.

I wonder who's ashes they really had

[Odin2005]

18. Damn you, I thought the same thing!!!

:rofl:

[tawadi]

7. Had to enter "'Gold Mine' of Data Helps Officials Clamp Down on Offshore Tax Havens" into Google

Interesting tidbit I learned: "The Internal Revenue Service still loses up to $100 billion a year from offshore tax evasion,"

[FLPanhandle]

10. The Caymen Islands are full of nice mansions.

I bet he's not the only tax exile there.

[trud]

11. that's not a nice mansion

It's hideous. Extreme wealth and tastelessness seem to go hand in hand nowadays.

[FLPanhandle]

12. Agreed.

This is more my style and no addition of money to my bank account would have me wanting more.

[formercia]

13. Not very smart, either

...being about one Meter above Sea Level.

[izquierdista]

14. One good thing about global warming....

....this will be under water soon. :evilgrin:

[FLPanhandle]

15. The mega rich will just move their ugly to a floating platform

[izquierdista]

16. No boat has been built

That can't sink. :evilgrin: I wonder what Irene would have done to that. :rofl:

[Odin2005]

17. Is that a RACE TRACK that I see on that monstrosity?

[NBachers]

19. Be a shame if that thing was hit with an infestation of rats and bedbugs

[RUMMYisFROSTED]

21. Ken Lay eom

[MicaelS]

22. You really have to be an angry or bitter person to hide

For 20 years just to avoid paying taxes.