Mar. 2, 2005 – A US telecommunications businessman accused of evading more than $200 million in taxes -- the largest criminal tax case involving an individual -- was arrested on Saturday and charged with 12 counts of tax evasion.
Walter Anderson, 51, created an offshore corporation to receive and conceal almost half a billion dollars over five years, the indictment said. The indictment also alleges Anderson claimed to be a resident of Florida, which has no state income tax, to avoid paying taxes in Washington, his actual place of residence.
â€œThe grand jury charged that, beginning in 1992, as Anderson realized that the merger of his first successful company, Mid-Atlantic Telecom, with another company would result in substantial taxable earnings, Anderson allegedly formed an offshore corporation to receive and disguise his anticipated income,â€� the Justice Department told Reuters.
Anderson could face up to 80 years in prison, if convicted.