The FBI have issued a press release about the indictment of a North American coin dealer on tax charges ("
Coin Dealer Formerly from Hackensack Indicted on Federal Tax Charges", April 2, 2013).
[Gantcho] Zagorski owned and operated a business that sold ancient coins to domestic and international customers, primarily on eBay, from his residence in Hackensack. Zagorski, along with his wife and, at times, his daughter, operated the coin-selling business under the names Diana Coins, Paganecoins, and Diana Coins LLC. For calendar years 2006, 2007, and 2008, Zagorski provided his tax preparer with false and fraudulent information by understating the amount of gross receipts and sales earned by his business. Zagorski then caused to be filed with the IRS those federal income tax returns for 2006, 2007, and 2008 containing that false and fraudulent information.
It will be interesting to see what else emerges from this case.
1 comment:
Is this now a blog about tax evasion? I thought it was about looting. Seriously, I'm sure you and your friends Messrs. Barford, St. Hilaire and Elkins are unhappy that the charges do not appear to relate to "stolen coins" from Bulgaria. I suspect though that any such case would suffer from the same basic problem the Government faced after its well-publicized seizures several years back of Ban Chiang pottery. The fact is that such pottery is widely and openly available in Thailand as are ancient coins in Bulgaria. I would hope the AUSA realized as much, which explains the charges. And while I don't condone tax evasion, I also hope that these charges are also not a stretch just to save face for the government (recall more serious tax charges were also trotted out when the Government could not make a real case on the pottery). Of course, something else might come up, but for now the Government does not have that much to show for its efforts-- yet again. At some point, hopefully someone higher up in the food chain at the USDOJ will start asking hard questions about all these investigations.
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