Businessman charged in 'biggest' US tax-evasion case
An American businessman has been arrested and charged with masterminding what is believed to be the biggest case of personal tax evasion in United States history.
Walter Anderson, 51, was arrested as he stepped off a plane in Washington DC after flying from London.
He is accused of evading more than $200m (€151.6m) in federal and local income taxes over a five-year period.
The telecommunications executive built his fortune during the 1980s and 1990s, launching and then selling companies for profit.
Authorities accuse him of going to great lengths to hide more than $450m (€341.1m) in income through various elaborate offshore tax schemes.
Anderson pleaded not guilty to all 12 counts of tax evasion on Monday and his lawyer claimed the government’s case was hugely exaggerated.
If convicted, he could face up to 80 years in jail.
Assistant Attorney General for the District of Columbia, Eileen O’Connor, said: “Most people obey the tax laws, they report their income to the Internal Revenue Service (IRS) and pay the taxes due.
“Honest taxpayers deserve the assurance that those who wilfully dodge their tax obligations will be investigated, prosecuted, and punished.”
The indictment alleges that over a five-year period, Walter Anderson personally earned nearly $500m (€379m) through investments conducted in offshore companies set up so it appeared he was not personally profiting.
During that time, Anderson allegedly claimed he was living in Florida, which has no state income tax, although authorities believe he lived at various times in Columbia, where residents are required to pay tax on items purchased outside the district.
The Justice Department claims Anderson owes $170m (€128.8m) in income taxes to the IRS and $40m (€30.3m) to the District of Columbia.
He is believed to have been operating alone.
