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Haas Sentenced for Tax Fraud

By McNabb Associates

Gene Francis Haas, the owner of an Oxnard machine-tool company, was sentenced to two years in prison for trying to avoid more than $34 million in income taxes by padding the books with false expenses.[1]Haas owns Haas Automation, Inc. which is believed to be the nation's largest computerized machine tool maker.[2] He also is a noted philanthropist who donated hundreds of thousands of dollars to Ventura County colleges and nonprofits.[3] He and four business associates were charged in connection with three separate tax fraud schemes that Haas engineered, according to the U.S. attorney's office.[4]Haas pleaded guilty in August to 11 federal charges and before sentencing had paid about $75 million in taxes, penalties and interest to settle the tax charges...continue to full post

Full post as published by Federal Crimes Blog on November 06, 2007 (boomark / email).