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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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| Re: NASCAR team owner pleads guilty to $34 mil in tax fraud Ha! That was my first thought too. I was ready to reply; "This is old news" |
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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.
__________________ If things get better with age, then I'm approaching magnificent. |
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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.
__________________ Bob I think we ought always to entertain our opinions with some measure of doubt. I shouldn't wish people dogmatically to believe any philosophy, not even mine. Bertrand Russell (1872 - 1970) |
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| Re: NASCAR team owner pleads guilty to $34 mil in tax fraud 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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