Posted: Mon 2:19 PM, Dec 06, 2004
Reporter: Associated Press
Updated: Mon 2:19 PM, Dec 06, 2004
Tax Cheat
Jerome Schneider is proof that you can't hide from the IRS. He is being sentenced Monday in federal court in San Francisco after pleading guilty to conspiring to defraud the tax agency.
By his own account, Schneider has helped about 100 wealthy Americans hide their money in illegal tax havens overseas. He has even published books on how to do it, including "Hiding your Money."
Schneider is now cooperating with Internal Revenue Service agents trying to catch tax scofflaws. He is also giving interviews warning of the risks of offshore tax shelters. It's part of a plea bargain.
The government says it will ask for leniency from the court. Schneider could get five years behind bars.
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