Federal grand jury indicts attorney on tax-related counts
By Pamela Manson
The Salt Lake Tribune
Salt Lake Tribune
Article Launched:04/05/2007 07:38:29 AM MDT
Posted: 7:38 AM- A federal grand jury has indicted an attorney for failing to file his own income tax returns for two years - and helping another alleged tax cheat hide assets.
The offenses allegedly occurred while attorney Thomas T. Wood was representing one of the six defendants in a pending tax fraud case. The lead defendant was Ernest Glenn Ambort, accused of promoting an illegal tax scheme that bilked the Internal Revenue Service of millions of dollars.
Yesterday's indictment alleges that Wood routed funds for the MyCor Investment Club, described as a Ponzi scheme, through a network of bank accounts from October 1998 through April 2001. That money was used to keep the scam going, cover expenses for Ambort and others and pay Wood, according to the indictment.
In addition, the indictment accuses Wood of failing to file a federal individual income tax return for 2000 and 2001.
Wood faces up to five years in prison if convicted.
The 66-year-old, who lives in Salt Lake City, is a licensed attorney but not a member of the State Bar of Utah. In a routine procedure, he was granted temporary admission to the bar so he could represent one of the defendants in the Ambort fraud case.
Two of the defendants in that case pleaded guilty and four, including Wood's client, were convicted of various charges by a jury. Ambort received the stiffest sentence, nine years, and is currently behind bars.
He had conducted nationwide seminars under the name Association de Libertas, claiming that white U.S. citizens were really nonresident aliens who owed no taxes. Prosecutors said seminar participants were taught how to fill out false income tax claims.
Anyone heard of Thomas T. Wood?
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