An Endless Stream of Lies

An Endless Stream of Lies Read Online Free PDF

Book: An Endless Stream of Lies Read Online Free PDF
Author: Don Rabon
somewhere along the line Ben met Jerry, and many of us enjoy their ice cream. Mr. Harley joined Mr. Davidson, and it made for the world’s best motorcycle.
    But when Alex met Noel, a prosperous and legitimate outcome was not to be the case. From this meeting, the downstream consequences were indeed “boisterous ruin.” At the point when they met for the first time, the over one hundred people destined to be washed over by the “annexment” of one small stream uniting with another did not cry out with a “general groan.” Their lamentations would only be heard years later. And while they were affected collectively, they individually felt the pain personally. Like a tsunami pouring over hundreds of people at once, they all would be drowned individually. Ultimately, Alex, in his own manner, would be drowned also.
    On the day Alex and Noel met, none of the destined-to-be victims of their fraud felt as if someone had walked over their grave. Were it the case that they all futilely consulted a horoscope that day, they would have found no financial caution in the stars applying to a multitude of different birthdays. No, it was but one of a multitude of “lesser things” that, in the aggregate, proved to be disastrous. The companies were formed and the positions were appointed—all lesser tributaries leading to tribulation. These tributaries had names such as Certified Estate Planners, Silverado Financial Group, Pinnacle Fiduciary and Trust, International Titanium Corporation, and International Mineral Exchange.
    “In 2000, Noel was the subject of an IRS audit. During this audit, the revenue agent informed Noel that the trust he was using personally was not valid and the agent made substantial adjustments to his income taxes. During the audit, Noel stated that he now understood that the trust was invalid for income tax purposes. After the audit, Noel continued to market and create substantially similar ‘trusts’ for his customers” (45).
    “Alex and Noel founded the company Silverado Financial Group, Inc. in February 2001. The purpose of the company was to facilitate the preparation of returns for the trust customers. They founded Silverado as equal partners. Alex was listed as the registered agent for Silverado (11). Alex conducted business as Silverado while he prepared tax returns for the trust customers” (17).
    “In March 2001, Noel and Alex formed Pinnacle Fiduciary and Trust as an ‘irrevocable’ trust for the purpose of managing all of the clients’ assets. Alex served as the trustee for Pinnacle Fiduciary and Trust” (15).
    “On September 5, 2001, Alex became the registered agent of Certified Estate Planners, Inc. (11). On that same day Alex became the registered agent for Pinnacle Advisors and began performing trustee services and preparing income-tax returns for customers” (14).
    “Alex’s activities included preparing customers’ trust returns and managing customer’s investments by transferring the funds to various accounts and conducting short-term stock trades. Alex was neither a licensed nor a registered tax return preparer” (12).
    “Alex was operating as an unlicensed broker and was not registered with the Securities Exchange Commission to sell securities. Neither was Alex a Certified Financial Planner” (13).
    “In 2002 the IRS began audits of Alex and Noel’s customers who had purchased “irrevocable living trusts” (28). “After this investigation commenced, they ceased selling the ‘irrevocable living trusts.’ That same year they began selling ‘revocable asset management trusts’” (29). “Alex and Noel had marketed the revocable asset management trusts to their customers as a way to avoid taxes on their investments” (30).
    Note : “What Does Revocable Trust Mean?
    “A trust whereby provisions can be altered or canceled dependent on the grantor. During the life of the trust, income earned is distributed to the grantor, and only after death does property transfer to
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