Doin’ Time Making $200,000 a Year Tax-Free

In a case of the shoe being on the other foot, a Chicago-based hedge fund has become the victim of a $25 million fraud. Three men associated with a Nevada-based company, American Trade Industries, Inc., allegedly made false statements to a hedge fund operator in order to could keep a $25 million investment from the hedge fund. Federal prosecutors, who are charging the trio with wire fraud, have recovered $3.4 million of the fund's investment and are not releasing the fund's name. Worst case scenario for the three swindlers? 30 years in the joint and a $1 million fine. Assuming they still have the $21.6 million stashed away somewhere, that comes out to about $200,000 a year tax free per person. Of course, only one of them is under the age of 60. Too bad you can't take it with you. Men Accused of Defrauding Hedge Fund [Pantagraph via Naked Shorts]

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