Thursday, December 12, 2013

SHOCK!!! CANCEL CHRISTMAS FOR CHERYL WOMACK!!! CHECK THE DEETS OF THE MISSION HILLS BIZ LADY INDICTED FOR CAYMAN ISLANDS TAX SCHEME AND LYING!!!



And this holiday season we're once again confronted with the inconvenient fact that ladies allegedly no-less-crooked than dudes when it comes to financial schemes.

To wit . . .

CHECK OUT THE FEDS LAYING OUT THEIR CASE AGAINST KANSAS CITY SUPER-RICH LADY CHERYL WOMACK!!!!

Sadly, I know a lot of other people list her Kauffman ties and other local connections but for TKC it's mostly interesting that Ms. Womack was one of Oprah's favorite woman entrepreneurs.

Again, for most people on local streets this isn't going to make a difference but once again proves that rich white ladies should be treated with caution . . .Check it:

MISSION HILLS WOMAN INDICTED FOR CAYMAN ISLAND TAX SCHEME, LYING TO FEDERAL AUTHORITIES

KANSAS CITY, Mo. – Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Mission Hills, Kan., woman was indicted by a federal grand jury today for using numerous foreign trusts and secret Cayman Island bank accounts as part of a scheme to avoid paying more than $7 million in income taxes, and for lying to federal authorities concerning her Cayman Island interests.

“Offshore tax evasion is an issue of fundamental fairness,” Dickinson said. “Americans who unlawfully hide their money offshore aren’t paying the taxes they owe, while citizens who play by the rules are forced to pick up the slack and foot the bill.

“Americans with secret offshore bank accounts still have an opportunity to voluntarily disclose those accounts to the Internal Revenue Service to avoid going to jail,” Dickinson added. “I encourage those taxpayers to do the right thing and take advantage of the IRS’s offshore voluntary disclosure program. Taxpayers can voluntarily come back into compliance so they properly report and pay their taxes.”

Verna Cheryl Womack, 62, of Mission Hills, was charged in a 10-count indictment returned by a federal grand jury in Kansas City, Mo. In addition to her Mission Hills residence, Womack maintains a condominium in the Cayman Islands and a condominium at Trump Towers in New York, N.Y. (Although the Cayman Islands and New York residences are owned by companies that Womack organized under trusts that were created in the Cayman Islands, according to today’s indictment, they are in her custody and control and for her use and enjoyment.)

Womack owned and operated a number of businesses associated with selling liability insurance policies to independent truck drivers. She sold those businesses for more than $35 million in April 2002.

Today’s indictment alleges that Womack opened at least 19 bank accounts and organized a series of nominee companies and trusts in the Cayman Islands to conceal a portion of her income from the IRS. According to the indictment, these corrupt endeavors were part of a scheme that began in 1996 and caused a total tax loss to the government in excess of $7 million.

As part of her corrupt endeavors, the indictment says, Womack repeatedly failed, year after year, to report her financial interests in her nominee companies and trusts to the IRS despite the multiple legal requirements that, as a United States citizen, she do so. Today’s indictment alleges that Womack filed federal tax returns that stated she did not have an interest in or signature authority over any foreign financial accounts, even though Womack knew that was false and fraudulent. For example, the indictment says, Womack maintained a Cayman Island bank account in her own name for several years, with balances ranging from nearly $41,000 to more than $173,000. The indictment alleges that Womack repeatedly failed, year after year, to report her financial interests in her bank account to the IRS.

Womack is charged with one count of attempting to interfere with the administration of internal revenue laws and nine counts of making a false statement to a government agency.

Wine Collection & Auction

Among its allegations, the indictment cites one of Womack’s nominee companies in the Cayman Islands as an example of Womack’s corrupt endeavors to conceal income from the IRS. Womack exercised ownership, custody and control over Lucy Limited and its assets. Among its assets, the indictment says, Lucy Limited owned (as nominee for Womack) a wine collection that was stored in the basement of Womack’s Mission Hills residence. Womack used a credit card issued by the Bank of Butterfield (in Grand Cayman) in the name of Lucy Limited to purchase at least part of the wine for her collection, for which she paid approximately $1.5 million over the course of several years.

On March 15, 2008, Womack sold approximately half of the wine stored in her basement at an auction house in New York for $1.6 million. The indictment alleges that she attempted to use her nominee company, Lucy Limited, and its financial accounts at the Bank of Butterfield in Grand Cayman to conceal the revenues and profits she derived from the sale of the wine.

Following the sale, the indictment says, Womack personally directed the auction house to wire more than $1.6 million in a series of transfers to a Lucy Limited account at the Bank of Butterfield that Womack controlled. Womack allegedly employed a number of false and fraudulent business agreements that appeared to be arm’s length transactions, but were in fact Womack’s self-dealing, resulting in wires of those proceeds back to the United States for Womack’s personal use.

For example, the indictment alleges that a $298,957 wire transfer was falsely and fraudulently represented in Lucy Limited’s financial statements as a management fee due to Womack. Womack also allegedly created a false and fraudulent document purporting to be a lease agreement between herself and Lucy Limited. Although not created until October 2008, the indictment says, the false and fraudulent lease agreement stated that Lucy Limited would lease the wine cellars in the basement of Womack’s Mission Hills residence for $25,000 per year beginning in 1995 and continuing through at least 2009. The day after creating that fraudulent document, Womack caused a $350,000 wire transfer from the wine auction proceeds to be wired to a bank account under her control in Kansas City, Mo. According to the indictment, Womack falsely and fraudulently represented in Lucy Limited’s financial statements that this wire transfer was payment for rent due under the lease agreement for the years 1995 through 2008.

After the auction, Womack caused the wine that was provided to the auction house but did not sell during the auction to be transported and stored at her condominium at Trump Towers in New York.

As a result of her efforts to disguise the self-dealing nature of these transactions, the indictment says, Womack did not report the income she derived from the sale of the wine on her federal tax return. She did not disclose her control of Lucy Limited or the existence of its bank account to the IRS, the indictment says, and she did not properly report the profit she derived from that sale – at least $851,188 – on her tax return.

On May 19, 2009, Womack testified under oath in a deposition by a trial attorney for the U.S. Department of Justice, Tax Division, regarding a lawsuit that sought to enjoin a third party from providing tax advice. According to the indictment, Womack falsely and fraudulently stated that Lucy Limited’s investors paid her to purchase the wine, manage the wine, and properly contain the wine, when she knew that there were no such investors, that she organized Lucy Limited, and that she exercised ownership, custody and control over Lucy Limited and its assets.

False Statements

Today’s indictment also alleges that Womack repeatedly lied to federal government officials and agents about her interests in Cayman Island businesses, trusts and bank accounts. On one occasion, Womack allegedly lied to two FBI agents, falsely claiming that she did not own any foreign businesses and that those businesses were owned by other investors, when she knew that no other investors existed. Womack provided a list of her financial accounts to an FBI agent in relation to a separate federal criminal investigation. Womack’s list of her accounts did not include any of her foreign bank accounts.

During the May 19, 2009, deposition, Womack allegedly repeatedly lied under oath about her financial interests in the Cayman Islands. During that deposition, the indictment says, Womack knowingly made numerous false and fraudulent statements regarding her Cayman Island trusts and business interests. Today’s indictment charges Womack with nine counts of making material false statements during that deposition.

Dickinson cautioned that the charges contained in this indictment are simply accusations, and not evidence of guilt. Evidence supporting the charges must be presented to a federal trial jury, whose duty is to determine guilt or innocence.

This case is being prosecuted by Assistant U.S. Attorneys Brian P. Casey and Daniel M. Nelson. It was investigated by IRS-Criminal Investigation and the FBI.

IRS Offshore Voluntary Disclosure Program

Federal tax law requires U.S. taxpayers to pay taxes on all income earned worldwide. U.S. taxpayers must also report foreign financial accounts if the total value of the accounts exceeds $10,000 at any time during the calendar year. Willful failure to report a foreign account can result in a fine of up to 50 percent of the amount in the account at the time of the violation.

Since 2006, American law enforcement agencies have had some, but limited, ability to obtain financial records concerning foreign accounts of American citizens in so-called tax havens. But a new Foreign Account Tax Compliance Act (FATCA) became law in the United States in March 2010 and is taking effect abroad on a country-by-country basis. The IRS and law enforcement are now more readily able to obtain the records of Americans holding foreign bank accounts in countries including Switzerland, the Cayman Islands and Costa Rica. FATCA requires foreign financial institutions to report the holdings of U.S. taxpayers to the IRS, or else face serious penalties.

The IRS Offshore Voluntary Disclosure Program enables U.S. taxpayers to resolve their tax liabilities and minimize their chances of criminal prosecution by voluntarily disclosing previously undisclosed foreign accounts and income. Approximately 38,000 voluntary disclosures from individuals have been made under the Offshore Voluntary Disclosure Initiative.

“How to make an offshore voluntary disclosure”: http://www.irs.gov/uac/How-to-Make-an-Offshore-Voluntary-Disclosure
****************

48 Comments:

Anonymous said...

Tony, you should know that Oprah doesn't really stand by her favorite things when they get in trouble.

Byron Funkhouser said...

Why do rich people do this? Rich lady minus taxes still equals rich lady. How many millions do they think they need?

Anonymous said...

Oprah be saying "Cheryl who? I don't know no fucking white bitch by that name."

Anonymous said...

Welfare fraud by WV hillbilly going to be in the news soon.
The clock is ticking you fraud, best be careful whose glass houses you throw rocks at.

Anonymous said...

Just about the time we forget about Karen Pletz, up pops another white woman who thinks she deserves all of the cash she can steal.

Karen took herself out a year ago. Lock-up Womack until the trial!

Byron Funkhouser said...

Anon 4:28

You're delusional. Since, I'm not on welfare, I can't commit welfare fraud.

Anonymous said...

THE TIME IS NOW!
The corporations/the politicians
and the wealthy are destroying America.
This is just the tiny tip of the
iceberg as to how the rich in this
nation are destroying this
great country.
They're bankrupting the nation
as we sit idly by.
Its time to take America
back!
God Bless America!!!!!

Byron Funkhouser said...

Anon 4:46

I agree with you, at least in spirit, but you are on the wrong blog. On this blog its poor people who are bankruping the nation.

Lois Lerner said...

We are now and have always been above reproach. In fact, recently, we became the voice of the people in an unending quest to control the thought process of those agrieved and deserving citizens, who, have given so much, like Byron.

God Bless You Byron, you are the future of America. WHile it would look so much better if you were black, we at the IRS take comfort in the fact that you are indeed, black on the inside.

Anonymous said...

I'd fuck her in her ass. Then cum all over her face. Then after a few seconds I'd tity fuck her and give her a pearl necklace.

Anonymous said...

In other words she's just like every other wealthy person/corporation and is hiding money offshore. She must need better lawyers and accountants. Maybe Mitt Romney could recommend somebody.

Anonymous said...

Make no mistake it's the ones on disability like Byron who could still contribute to society but choose not to. His wife does the same so they can stay home and suck the gov't tit. SHAME on you Byron & Wife !

Anonymous said...

Slackers bankrupting The U.S.A.

Anonymous said...

When are these stupid, affluent, fat old rich bitches going to learn the Martha Stewart lesson. When you sit down to talk to the FEDs it is impossible to go an hour and not be accused of lying about something. NEVER fucking talk to them. They are not your friend. No matter what they threaten or how much grief they say they will put on you NEVER fucking talk to those ass holes.

Byron Funkhouser said...

When I was younger & could still see a bit, I lived in Nashville, TN for about ten years. I worked at a textile factory during the day & went to a business school at night. After graduating from the business school, I worked for Cellular One out of the southeast regional office as an accounts payable clerk. So, you see I have experience with 'southern' cities & their racism. I have also lived in Las Vegas, San Antonio & Fairbanks, among others.

When the mid-life changes occur in the eyes that cause myopia in the binocular came to me that compromised what was left of my vision. At this time I had surgery on my left eye (medical records, dummies.) When I was a little boy, I asked the eye doctor if I would ever go completely blind. I was told that it just depended on how long I lived, that if I lived to be very old, I would become completely blind.

So, you see haters, I have worked & 'contributed' to 'society'. I suspect that you people have been listening to too much hate radio.

Anonymous said...

Karma is a bitch. Toy around with it at your own risk.

Anonymous said...

“As my (wine) collection has grown, I’ve amassed over 9,000 bottles, which is far more than can be stored in my 5,000-bottle cellar and considerably more than any one person could drink in their lifetime!”

Did she actually work or collect wine while pretending to work?

Anonymous said...

Her slaves did the work for her.

Anonymous said...

Byron is afraid he's gonna get cheated out of his cut. If he can walk the streets unassisted, watch cops watch him dodge bushes,play chess and work a keyboard all day he can work. He is a thief !!!

Anonymous said...

Nicely put Byron.

Anonymous said...

Slave driver

November 29, 1993
(FORTUNE Magazine) – People who work for V. Cheryl Womack and don't give 110% to their jobs don't last long. Perhaps they aren't willing to come in early and leave late during a crunch, which happens often in her fast-growing outfit, or they can't cooperate with one another. They are ''written up'' by department heads and their assistants and get firm deadlines for improving.

Anonymous said...

Federal Bureau of Investigation (press release)-2 hours ago
Verna Cheryl Womack, 62, of Mission Hills, was charged in a 10-count indictment returned by a federal grand jury in Kansas City, Missouri.

Ouch!!! Looks like she's not going to weasel her way out of this easy.

Anonymous said...

Maybe Glazer can give her some tips on preparing for prison.

Anonymous said...

Maybe she'll cut a deal with the Feds and we can find out who else in this corrupt town are doing a bunch of crap.

Byron Funkhouser said...

Thanks 7:07 (2)

The policeman in question knew how dangerous it was for me to have to step into the street like that. This is a small town.

7:07 (1)

Read the law for yourself. The operative word is 'gainful'. As I've said many times I don't claim to be disabled. I was declared disabled by an administrative law judge after hearing testimony form doctors & the government's own employment specialist.

There are a lot of people on disability. So, when I bother to explain myself to the haters, I am also speaking for them. The shame is not ours, the shame is yours.

Anonymous said...

It's events like these that make me feel grateful I play by the rules.

I wonder if she was in a towel or bathrobe when the knock on the door happened. Boy that must be a frightening sight to see. People in suits and government issue ray-bans standing there with documents.

Anonymous said...

Makes me wanna shit myself, thinking about it.

Anonymous said...

The SHAME is yours Byron & it eats you up because deep down in your soul you actually don't like being a thief. & you don't like your wife being a thief also.

Anonymous said...

Flunkhouser and Womack, both con artists on different levels. They're Fuckin crooks.

Anonymous said...

Was she trying to imitate Google's Cayman Island Tax Avoidance Strategy?

Anonymous said...

Eric Schmidt, Google’s executive chairman, has said that he is “very proud” of the way that the company arranges to pay as little tax as legally possible, saying it “is called capitalism”.

Maybe she can say something like that to the Judge.

Anonymous said...

Only little people pay taxes

Anonymous said...

Fuck you Byron. 16,000 people in Clarksburg. Lying fuck thief. Gainful employment? What a cocksucker you are! Any employment that keeps you from stealing is gainful. Get a job thief! You getting food stamps? Medicare? That's welfare !
You are right, a lot of people are on disability. Most don't take advantage of it like you. Get a job.!
Nice picture of you reading paper and socializing at chess club.

Anonymous said...

It's tough hiding all that payday loan money.

Anonymous said...

There goes her Bentley.

The People of the United States of America said...

Obama SHOULD be saying Cheryl who.

The rich are not supposed to have special standing you filth!

Anonymous said...

Ah yes!
I thought someone would mention 2012 Presidential candidate Mitt Romney (Bain Capital) when hearing the Cayman Islands reference.

It seems Ms. Womack used some of her wealth to seek advice from the tax avoidance experts. I suppose most of us are accustomed to hearing about this sort of thing with politicians and the wealthy, as they make sport out of paying as little as possible.

Recall:
The Obama's purchasing a Chicago Hyde Park mansion with payoff money, and then the lot next door as well. And then the Hawaiian real estate!
The Clinton's setting up secret Swiss bank accounts to hide wealth and avoid taxes.
The Bush family of course is involved in all manner of corruption (Saudi oil money, drug smuggling, Carlyle Group, W. profited off of TX taxpayers with the Rangers baseball team, etc.)

Meanwhile, corporate America plays shell games in parking profits "offshore" to avoid paying taxes. Exxon, Apple, Chevron, Google, GE, IBM, etc., shift BILLIONS of dollars offshore, on paper at least, to avoid paying! And to add insult to injury, many then claim tax credits, and actually receive checks from Uncle Sam!

It's a GAME people.....and you're a PAWN.

Anonymous said...

12/12/13, 8:40 PM
You are really upset because you see your whole White Supremacist world crashing down around you and you have no merit to make you feel special outside of that.

Take the service revolver into a closed dark room and do the right thing you shit.

Anonymous said...

I'd bet that the accused has paid more in taxes than all of Tony's commenters combined -- several times over.

Anonymous said...

I did some work for her a few years ago and seemed like a fairly nice, but hard working women. I think I would have gotten tired paying all the taxes she has while the blood sucking welfare recipients only take and never improve society.

Anonymous said...

By the way, she sold here Bentley several years ago along with her private plane. I've also been in her wine cellar several times; it is impressive and she employed many people around her house for years...including me.

Why should the US government receive taxes from overseas business interest...they can go to hell.

Anonymous said...

What Cheryl should have done is sell everything, renounce her US citizenship and move to an island that doesn't screw over their taxpayers.

Anonymous said...

10:02 comment, PLEASE DO NOT ENABLE ILLEGAL BEHAVIOR.

Wealthy white people have ripped you off exponentially more than any poor welfare recipient!
Wars, monopolistic practices, price fixing, bid rigging, military-financial-industrial complex, increasing tax rates, increasing eligibility age for Social Security, Savings & Loan bailout, Auto companies bailout, Wall Street bank bailouts, destroying purchasing power of your dollars, ad infinitum.

Anonymous said...

Get your affairs in order.

Anonymous said...


10:12 PM
No, subjects -- yes, subjects of the crown -- who live in the Caymans pay taxes common to the British Empire -- where they have things that work. They only allow foreigners to park their money their in shielded accounts in exchange for fees. But of course you are too stupid to understand all that.

Anonymous said...

Damn that fucking Byron has been ran out of a lot of towns.

Fucking Thief.

Anonymous said...

10:20 PM Hey fuck wad...I didn't say she should move to the Cayman Island...yes I've been there too...have you LOSER!!!

Byron Funkhouser said...

Ms. 8:40

I don't know where you got your figures. There are only 9,000 people in the whole county. That includes several small towns as well as Clarksburg. You're just a stupid hater ...