Financial guru to start prison term
Former financial guru Wade Cook, convicted of federal tax fraud, was arrested Thursday, and will start serving his seven-year, four-month prison sentence, according to U.S. Attorney's Office spokeswoman Emily Langlie.
By Noelene Clark
Seattle Times staff reporter
Former financial guru Wade Cook, convicted of federal tax fraud, was arrested Thursday, according to U.S. Attorney's Office spokeswoman Emily Langlie.
He is headed to prison to begin serving his sentence of seven years and four months.
In February 2007, Cook was convicted of three counts of filing false income-tax returns, three counts of income-tax evasion and one count of obstructing the IRS.
Cook, of Fall City, had made millions selling tax tips and investment strategies. His Tukwila-based company Wade Cook Financial went bankrupt in 2003.
U.S. District Judge Thomas Zilly ordered Cook to pay $3.7 million in back taxes on about $9.5 million of underreported income.
Cook's wife, Laura Cook, was sentenced to 18 months in prison for obstructing the investigation; she is set to be released in January.
Wade Cook has been free on bail pending an appeal of his conviction, but an appeals court ruled against him in July, and the U.S. Attorney's Office sought two weeks ago to have his bail revoked, Langlie said. |
