Dude Busted For Running An Illegal Bank For Tax Evaders From His Suburban Home

First of all, before we get to all that, tax evading is stupid. Don’t do it. You’ll get caught, just like this guy. He was busted for running a “Warehouse Bank,” in which he pooled $28 million from “depositors” into several accounts with Bank of America, U.S. Bank and Wells Fargo Bank. From the AP:

An IRS investigator said Robert Arant had hundreds of customers, many of whom apparently used his bank, Olympic Business Systems LLC, to conceal assets for the purpose of evading taxes.

On his now-defunct Web site, Arant advertised his services to those “who would rather not deal directly with the banking system,” court records said.

Arent charged $75 for this service, along with fees for setup and wire transfers. His customers could “buy” a debit card for $30. He plans to represent himself in court. As much as we know you all hate banks, they are a better idea than giving your money to a random guy with a website. The IRS will find you. Be honest! —MEGHANN MARCO

IRS: Man Ran Secret Bank From Wash. Home [WTOP]
(Photo: AP/Elaine Thompson)