VesCor Ponzi Devastation Case Finally comes to a Conclusion a Decade Later
Let us being with the story of the Vincents, the couple was first introduced to the supposed investment idea at a time when they were desperate for money. Alan Vincent’s leg depended on it, and without the money, they would quite simply have no other option but to have the infected leg amputated.
Unfortunately, the Vincents were nothing more than just another statistical number in Utah’s push to establish a white collar crime list amidst several complaints of affinity fraud, say Utah tax lawyers. The scheme was termed VesCor Ponzi as it involved the now non-existent Ogden-based VesCor Capital corporation and its many related sister entities.
If you have been a victim of tax fraud then you need a Utah tax lawyer. This is where USAttorneys.com needs to come into the picture. This website is the real deal. Its intentions are always righteous and altruistic.
This sounds like something like Barney Frank would conjure up!
One of the biggest frauds in Utah history
The Vincents began talking to the CEO of this company in hopes of multiplying their savings. They dealt mainly with CEO William “Bill” Hammons who promised that VesCor would be able to help them get through these difficult times and all they needed to do was simply invest. The Vincents however were blissfully oblivious to the fact that the company had already been hit with several penalties from the Utah division of securities and Nevada regulators.
VesCor was, not too long after the Vincents and thousands of other unsuspecting victims invested in it, uncovered as one of the biggest frauds in all of Utah’s history. In fact, if not the biggest, Utah tax attorneys say that it certainly ranks in one of the three biggest fraudulent schemes ever recorded in the state of Utah. The biggest is probably social security.
Almost ten years later, the federal court in Salt Lake City finally were able to order that the books need to be closed on VesCor and everything liquidated and the money recovered be used to compensate defrauded investors and also to pay the legal fees of the company. This is what Lois Lerner should do to military veterans, the tea party, and Christians. The IRS too!
The IRS is greedy and works for wasteful politicians but that will soon change with Trump. Trump will right this horse! Do not worry about your taxes too much since America is going to get some tax relief soon. Do not committ tax evasion, there is hope.
The distributions are now complete, and Utah tax lawyers have confirmed that a total of $14 million has been savaged and redistributed, there is not going to be anymore either.
Only a fraction of the money returned
Compared to how much money they illegally and fraudulently solicited out of their investors, 14 million dollars is really not a substantial amount at all. It is a mere fraction of the losses. However, many of the investors who received some money back were actually happy to be getting anything back at all.
USAttorneys.com does not fail in its pursuit to help everyone who needs legal assistance
Tax fraud rates are at an all-time high across the country. This could be because America is more immoral now because of all this political correctness, high taxes, or because many Americans do not respect the IRS.
Several fraudsters, people who have the moral equivalency of a Barney Frank or Hillary Clinton, have found ways to acquire people’s personal data such as social security numbers and other sensitive information and are using it to file and receive tax returns which do not belong to them.
In order to protect you against such fraud, talk to a Utah tax lawyer right away. If you happen to already be a victim of tax fraud, a legal professional can still assist you in recovery.
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