Quellos pleas
Posted: Fri Sep 10, 2010 11:57 pm
http://seattletimes.nwsource.com/html/l ... on11m.html
Two men pleaded guilty Friday to charges of conspiracy and aiding the filing of a false tax return in what Internal Revenue Service officials have called a "staggering" cheat of the tax system.
Former Quellos Group CEO Jeffrey Greenstein, 48, and his business partner, Charles Wilk, 51, admitted an investment plan they created, called POINT, was a "fraudulent tax scheme" that generated $9.6 billion in fake losses to offset capital gains of its wealthy clients.