Space Entrepreneur Walt Anderson Arrested For $200 Million Tax Scheme

SPACEMART

File photo of Walt Anderson.

Washington (SPX) Mar 01, 2005
The US Department of Justice and Internal Revenue Service have arrested telecom businessman Walt Anderson on charges of failing to pay $200 million in federal and local taxes. In the late 1990s Anderson led a team that tried to lease the Russian Space Station Mir and operate it as a commercial station.

According to the DoJ indictment Walter Anderson concealed more than $500 million in personal income earned through businesses conducted via offshore operations designed to hide his association in the transactions. Anderson was arrested Saturday while arriving at Washington's Dulles airport.

The IRS Commissioner Mark Everson said the charges marked the largest criminal tax case against a single individual.

Anderson began a telecommunications business in the early 1990s as the previously highly regulated sector was being opened up to competition flowing from new technologies and applications.

The indictment alleges that he formed offshore companies in the British Virgin Islands and Panama to hide taxable income generated from company mergers.

"Honest taxpayers deserve the assurance that those who willfully dodge their tax obligations will be investigated, prosecuted and punished," said Assistant Attorney General Eileen O'Connor.

US Federal laws require that all US citizens report their earnings and pay taxes. The indictment charged that Anderson claimed to be a resident of Florida when he lived at two homes in Washington, D.C., and that he owes $170 million in federal taxes and $40 million in local income taxes.

SPACEMART

Boeing to Sell Rocketdyne Propulsion Unit to Pratt & Whitney

St Louis MO (SPX) Feb 22, 2005
Boeing announced Tuesday that it has reached an agreement to sell its Rocketdyne Propulsion & Power business to Pratt & Whitney, a United Technologies company, for approximately $700 million in cash.

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.