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  #1 (permalink)  
Old 08-28-2007, 01:20 PM
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vincesanity82 vincesanity82 is offline
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NASCAR team owner pleads guilty to $34 mil in tax fraud

Gene Francis Haas, the owner of machine tool maker Haas Automation Inc., pleaded guilty to defrauding the federal government of $34 million in income taxes by sending bogus payments to his NASCAR racing team and others. Haas, 54, entered a guilty plea today in federal court in Los Angeles. He faces two years in prison under the plea agreement, according to a statement by the U.S. attorney's office in Los Angeles. Haas owes the government more than $70 million in back taxes, interest and penalties, according to the statement. Haas admitted authorizing Haas Automation to make large overpayments to his NASCAR team, among other recipients. The payments were booked as expenses and were returned and deposited in bank accounts, including Haas's own, that didn't belong to the Oxnard, California-based company. -- Bloomberg

Bloomberg.com: North American
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Old 08-28-2007, 03:10 PM
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Team Yates Team Yates is offline
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

I thought this was a thread about Hendricks!!
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Old 08-28-2007, 07:57 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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I thought this was a thread about Hendricks!!
Well TY I guess this shows not all crooks in NASCAR are named Hendricks or France
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Old 08-28-2007, 08:27 PM
Souporscotty Souporscotty is offline
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Originally Posted by Team Yates View Post
I thought this was a thread about Hendricks!!
Ha! That was my first thought too. I was ready to reply; "This is old news"
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Old 08-29-2007, 01:27 PM
SpaceCadet SpaceCadet is offline
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

Now when we refer to an owner as "the felon", we'll have to specify which one. I'll bet there's more than just two. These two were just the first obvious ones in recent history to get caught. I wonder who's next? "H&H Swipe and Swindle Motorsports". They'll be the next teams to join forces.
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Old 08-29-2007, 03:01 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Now when we refer to an owner as "the felon", we'll have to specify which one. I'll bet there's more than just two. These two were just the first obvious ones in recent history to get caught. I wonder who's next? "H&H Swipe and Swindle Motorsports". They'll be the next teams to join forces.
I am still laughing. We got some brilliant brains and wit working here
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Old 08-29-2007, 08:16 PM
Bob Tanner Bob Tanner is offline
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

Actually, I believe that the thread title is "technically" misleading. I believe that, a couple of months ago when it was apparent that the fit was going to hit the shan, Haaas performed a "Hendrick/Roush maneuver," plunked his magic wand and made his cohort, Joe Custer, owner of the #'s 66 and 70.

I read that he's pleaded guilty and is expected to get partial restitution, $22 million fine and will go down for 24 months. I'm not sure about federal cases (IRS) but he could be out and on paper in as short a time as 4-6 months.

This type of behavior was considered "macho" and "cute," back before NASCAR was a nationally recognized sport. Now, it's embarrassing.

Now we have two ethical train wrecks which NASCAR might consider not allowing any professional connection with any NASCAR team or driver.

Note to Hass: Strongly suggest you buy some oncologist to give you a positive diagnosis. Then throw yourself on the mercy of the sentencing judge; this has proven to work in the past. Check around the other team owners for specific details.
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Old 08-29-2007, 08:33 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Originally Posted by Bob Tanner View Post
Note to Hass: Strongly suggest you buy some oncologist to give you a positive diagnosis. Then throw yourself on the mercy of the sentencing judge; this has proven to work in the past. Check around the other team owners for specific details.
Anyone in particular he should be talking to Bob ???
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Old 08-29-2007, 08:34 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Old 08-29-2007, 10:11 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Anyone in particular he should be talking to Bob ???
I think a proctologist might be the hot ticket here. Then when the judge bends him over it wont hurt so bad
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Old 08-29-2007, 10:37 PM
Bob Tanner Bob Tanner is offline
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Originally Posted by thunderfoot View Post
I think a proctologist might be the hot ticket here. Then when the judge bends him over it wont hurt so bad
Bending over in front of a proctologist would be preferable to bending over in front of a con with haz-mat-type B.O. named Bubba with a beard like Grizzly Adams and AB tat's all over his body.
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Old 09-01-2007, 08:46 AM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Originally Posted by SpaceCadet View Post
Now when we refer to an owner as "the felon", we'll have to specify which one. I'll bet there's more than just two. These two were just the first obvious ones in recent history to get caught. I wonder who's next? "H&H Swipe and Swindle Motorsports". They'll be the next teams to join forces.
Nah... Hendrick will always be known as "the felon"... all others are just wannabes... but if you want specification I guess we could refer to him as "felon 2" the bad attempt at a sequel
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Old 09-01-2007, 09:19 AM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Nah... Hendrick will always be known as "the felon"... all others are just wannabes... but if you want specification I guess we could refer to him as "felon 2" the bad attempt at a sequel
Guess that is because you will always love Rick more...
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Old 09-01-2007, 09:46 AM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Guess that is because you will always love Rick more...
Love him like I do a skunk
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Old 09-01-2007, 05:10 PM
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Re: NASCAR team owner pleads guilty to $34 mil in tax fraud

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Love him like I do a skunk
I just love the smell of fresh woodpussy in the morning.

Now hasnt Mr Haas surpassed Hendrick in the amount disputed by the feds? Wouldnt that rank him as #1 Felon?
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