Home

Quellos Group Owners Plead Guilty to Fraud and Tax Evasion
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Both Jeffrey Greenstein and Charles H. Wilk plead guilty on September 10th to federal charges of aiding in the filing of a false tax return and conspiracy to defraud the government.  The men were the chief executive and tax attorney respectively of Quellos Group, LLC., a fictitious investment firm based in Seattle.

Quellos operated under the guise of a tax shelter, but had no employees or even assets.  They advertised avoiding taxes to their clients, then fabricated loses from depreciated stocks from 1999 to 2006.  Among their clients was Haim Saban, a media proprietor and the 102nd richest person in America.  Quellos allowed Saban to circumvent paying $280 million in taxes and other fees which Saban has completely repaid to the Internal Revenue Service.  Quellos ultimately allowed their clients to avoid paying taxes on $1.3 billion in capital gains.

Last year Matthew Krane, a Los Angeles based attorney, pleaded guilty to to tax evasion and false statements.  Krane had been hired to deal with taxes on Saban’s transactions and, in turn, hired Quellos with the promise of receiving $36 million in kickbacks.

  
What
Where


Greenstein and Wilk have been ordered to pay $7 million to the Internal Revenue Service, an additional $400,000 to cover court costs, and to return to their graduate schools to give speeches on ethics.  They will be sentenced in January to no more than six years in prison and no less than two.



 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Litigation Associate Attorney

USA-SC-Columbia

Columbia office is seeking a commercial litigation attorney with 2-4 years of experience.

Apply Now

Attorney with 3-7 years of commercial/complex litigation experience

USA-CA-Cerritos

Cerritos office of our client seeks attorney with 3-7 years of commercial and complex litigation exp...

Apply Now

Insurance Coverage Associate Attorney

USA-IL-Chicago

Chicago office of our client seeks associate attorney with insurance coverage experience. The candid...

Apply Now

Patent Agent with 1 year of electrical engineering experience

USA-CA-San Francisco

San Francisco office of our client seeks entry level patent agent with 1 year of experience. The can...

Apply Now

RELEVANT JOBS

Associate Attorney

USA-OH-Columbus

AV-rated serious injury and wrongful death litigation firm hiring  a full time associate.  ...

Apply now

In-House Attorney

USA-NY-New York City

Doris and Don Fisher opened the first Gap store in 1969. Today, Gap Inc. is a leading global fashion...

Apply now

Research Analyst & Report Writer

USA-CT-Stamford

Research Analyst & Report Writer        Post Date:  September 25, 2018 ...

Apply now

Litigation Associate

USA-NY-New York City

Todd & Levi, LLP is a small commercial law firm specializing in aviation finance and construction an...

Apply now

SEARCH IN ARCHIVE

To Top