IRS: Man ran secret bank from Wash. home
 

A man operated a "warehouse bank" out of his suburban home, taking at least $28 million from people around the country who wanted a discrete bank account, according to court documents.
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.


Full story here http://news.yahoo.com/s/ap/20070502/...warehouse_bank

interesting.

He should have fun in the pokey...

wow 28 million .... that's a lot of jail time!!

thats serious, hmmm who would have given him most of that money

haha very interesting

sucks to get caught

So I take it he wasn't FDIC insured?

i'm not seeing what's illegal about people paying you to hold their money...

for the purpose of tax evasion?

a successful webmaster :thumbsup