A very well-known real estate guru and national speaker from Atlanta (whom we will refer to as “Mr. X” since he is presumed innocent until proven guilty) is undergoing an intense and lengthy criminal investigation by the Federal Department of the Treasury, and the Georgia Attorney General’s office, for tax evasion and possibly fraud and other charges.
Mr. X allegedly uses a complicated series of land trusts, personal property trusts, LLCs, charitable foundations and non-profit organizations with layer upon layer of these legal entities to hide his assets, avoid lawsuits, thwart investigation and evade paying income taxes.
This federal and state criminal investigation was recently confirmed by two Special Agents* from the Internal Revenue Service, Criminal Investigation Division, in Decatur, GA . The federal investigation includes REIA groups and real estate promoters who have allowed Mr. X to teach and sell his paperwork and training to their members and students.
When Special Agent “H” was asked on March 5 2012, about students who use Mr. X’s training and paperwork need to be concerned about the investigation and the impact it will have on them, Special Agent “H” of the IRS Criminal Investigation Division said “I strongly suggest they consult their attorney about this matter” (paraphrase).
In case you are using any of Mr. X’s training and paperwork, you should be ready for legal challenges in the wake of this federal and state investigation as well as any potential IRS audits or lawsuits that may arise.