Global Business Marketing

Global Business Marketing Ric Klingenberg-Russell Pike GOOD OL BOYS Las Vegas, Nevada

4th of Jun, 2011 by User769555

FOR IMMEDIATE RELEASE
TUESDAY, NOVEMBER 9, 2004
WWW.USDOJ.GOV
TAX
(202) 514-2008
TDD (202) 514-1888 COURT ENJOINS EIGHT PERSONS TIED TO DEFUNCT TELEMARKETING FIRMNational Audit Defense Networks Tax Scams Alleged to Cost Treasury Hundreds of MillionsWASHINGTON, D.C. - The Justice Department announced today that a federal court in Las Vegas has entered injunction orders against eight individuals related to a now-defunct telemarketing firm, Las Vegas-based National Audit Defense Network, known as NADN.The orders include a preliminary injunction against NADNs former president Weston Coolidge, former general manager Alan Rodrigues, and former manager Adam Mangabang, which bars the three men from selling fraudulent tax schemes and from preparing income tax returns for others. The court also entered a similar preliminary injunction against a related company, ALR, Inc., doing business as Success Matrix Group, and three associated persons, Lee Panelli, Jeff Klingenberg, and Ric Klingenberg. The court also permanently barred Christine Reid and Mary Orie from preparing false tax documents. All of the defendants consented to the injunctions.The court also ordered ALR, Panelli, both Klingenbergs, Reid, and Orie to provide the government with a list containing their customers names, telephone numbers, mailing and e-mail addresses, and Social Security or employer identification numbers.Court papers filed by the Justice Department estimated that customers using NADNs tax schemes underpaid $324 million in federal income taxes over a three-year period. The Department of Justice and the Internal Revenue Service are working together to shut down tax fraud schemes, said Eileen J. OConnor, Assistant Attorney General for the Justice Departments Tax Division. She thanked Tax Division trial attorneys Evan J. Davis, Phyllis Jo Gervasio, and Karen G. Gregory, Tax Division paralegal Marion Goyette, and IRS revenue agents Sue Cutler and David Gordon for their work on this case.This case is part of the Justice Departments Operation Roaming Charge, which targets international and domestic telemarketing fraud. Information about Operation Roaming Charge is available at http://www.usdoj.gov/opa/pr/2004/October/04_crm_680.htm.More information about this case, including prior injunction orders and a copy of the complaint and brief in support of motion for preliminary injunction, are available at http://www.usdoj.gov/tax/txdv04233.htm; http://www.usdoj.gov/tax/txdv04309.htm and http://www.usdoj.gov/tax/txdv04395.htmMore information about the Justice Departments Tax Division is available at http://www.usdoj.gov/tax/index.html.

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4913 days ago by Corky

FOUNDER OF ENERGY DRINK COMPANY CHARGED WITH TAX EVASION

LAS VEGAS - - The former CEO of a Nevada sports energy drink company, Xyience, Inc., has been indicted by the Federal Grand Jury on tax evasion charges, announced Greg Brower, United States Attorney for the District of Nevada.

Russell Pike, of Las Vegas, is charged with one count of Tax Evasion for failing to file a federal individual income tax return for 2006 and failing to pay taxes on over $6.9 million in income he earned in 2006. Pike is also charged with using nominees and a forward-dated stock sale agreement to conceal his true income from the IRS. Pike was arrested yesterday in Las Vegas and is scheduled to appear in U.S. District Court at 3:00 p.m. today before U.S. Magistrate Judge Peggy A. Leen for an initial appearance and arraignment.

Pike founded Xyience, Inc., which manufactured, marketed and sold sports energy drinks, most notably, Xenergy, which was sold in over 45, 000 stores throughout the United States. The Indictment alleges that upon the inception of Xyience in 2004, Pike received at least 12 million shares of Xyience stock. During 2006, Pike sold over 4.4 million shares of his Xyience stock for approximately $6.9 million. This includes a sale on about November 2, 2006, in which Pike sold over 3 million shares of Xyience stock to an investor for approximately $5 million. In early 2007, Pike requested that the investor change the date of the stock purchase agreement from 2006 to 2007, so that Pike could avoid paying taxes for 2006.

In June 2006, Pike listed his income as $100, 000 plus on a brokerage account application. In July 2007, Pike listed his assets as $27 million and his liabilities as $2 million on a life insurance application. In September and November 2006, Pike purchased a condominium in Las Vegas which was titled in the name of a nominee, made payments on a 2005 Lexus SUV that was held in the name of a nominee, and purchased a 2007 Mercedes Benz for $151, 614.

If convicted, Pike faces up to five years in prison and a $250, 000 fine.

The case is being investigated by Internal Revenue Service Criminal Investigation and is being prosecuted by Assistant United States Attorney Nicholas D. Dickinson.

The public is reminded that a Indictment contains only charges and is not evidence of guilt. The defendant is presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.