(Enron) Fastow sued for back taxes on beach home

[UpInArms]

http://www.chron.com/cs/CDA/ssistory.mpl/business/2839380

GALVESTON -- Galveston County has sued former Enron Corp. finance chief Andrew Fastow, claiming he and his wife Lea owe more than $17,400 in back taxes on a beach home in a posh subdivision.

But it could be awhile before the county collects anything as the Fastows agreed earlier this year to turn over the vacation home, as well as other properties, to the federal government as part of restitution in Enron-related criminal proceedings.

Fastow pleaded guilty in January to two counts of conspiracy while his wife pleaded guilty in May to a misdemeanor tax crime for helping him hide ill-gotten income from myriad financial schemes that fueled Enron's December 2001 crash.

Fastow admitted to orchestrating schemes to deceive investors into believing Enron was more financially healthy than it was while pocketing millions of dollars for himself on the side.

...more...

Guess what folks! That means that the taxpayers will get hit with the tax bill on that property! Isn't it lovely how the Enron thieves keep hitting us up for their financial choices? If the Fastows knew that they were going to "give up" properties to the Feds for their misdeeds, I am sure that they quit paying any and all taxes due on those quite some time ago. The way it works is that the taxing authorities never waive any of the fees, penalties or taxes when these properties are "exchanged". Then if we (the taxpayers) don't pay up, those properties are foreclosed by the tax authorities and we don't get the properties if we don't pay. So we have just been handed an new set of debts by the Enron crew.

:grr:

[R Hickey]

1. I'd buy their beach house for $17,000.

I just wonder why Martha Stewart is in jail, while Ken Lay is still running free.

[barb162]

4. probably because she's a democrat. They can't have Lay

on trial as Kenny Boy might spill some beans about Bush before the election (ya' think?). Amazing how long it is taking to get Lay's ass on trial as compared to Martha.

[Bush_Eats_Beef]

2. Oh dear God no, not the beach home! What next, the Faberge Eggs?

The BASTARDS! Damn Dirty Apes!

:evilgrin:

Well, this seems as good a time as any for a repost of the "Bush Throws A Tantrum And Walks Away In The Middle Of A Press Conference When Asked About His Little Friend "Kenny Boy's" Arrest" photo. Enjoy.

[UpInArms]

3. interesting pic, Bush_Eats_Beef - what's that

"ledge" at butt level?

Is that the receiver box they had him wired with that day?

hmmm....

[Bush_Eats_Beef]

5. No, his "people" have responded "officially" to that one...

...they have called it a "rumple" in the fabric of his suit. The president has a rectangular, wireless microphone transmitter-sized, naturally-occurring "rumple" in the fabric of his suit.

A rumple. NOT a transmitter.

USA! USA! USA! USA!

:evilgrin: