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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: CountofMoneyCristo who started this subject6/24/2003 5:00:32 PM
From: CountofMoneyCristo  Read Replies (2) of 3143
 
By the way, you all remember when I first went public with these allegations in late June, 2000? Maybe not, but I did so here at SI. Well, as I later found out, the clearing firm of MBT/Terra Nova, Southwest Securities sent in 1099 forms to the IRS only a few weeks later. Those forms you might recall are supposed to be sent in every year concerning your trading activity. They sent in what they claimed were mine in late July, 2000. Quite a coincidence, only a few weeks after I raised these allegations...

These forms purported to represent my "broker-and-barter" income for 1998 and 1999 to be...more than $125 million. When I found out I called the IRS and they informed me, and that their records show I owe $50 million in back taxes! The IRS agent actually laughed and questioned these forms - especially because they were years late. The IRS is taking no action against me. I told them that if Terra Nova ever sent me this windfall they claimed I earned in 98-99 I would be more than happy to fulfill the substantial tax liability.

These are the types of people I am suing. Now many of you can begin to see why. They believe the law does not apply to them, that they can simply do as they like, destroy people's lives and then if anyone dares say anything they try to further destroy you with the government. Incidentally, the IRS informed me that the filing of false 1099 forms is a federal crime. The Superior Court already has evidence of this activity - and also counsel to MBT and Terra Nova threatening me in late 2000. (I guess trying to bankrupt me through the IRS wasn't enough.)
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