Update on Wade Cook case

[Demosthenes]

Investment guru's wife pleads guilty to lesser charge in tax-fraud case

By David Bowermaster
Seattle Times staff reporter

Laura Cook, the wife of former investment guru Wade Cook, this afternoon pleaded guilty in U.S. District Court to one count of obstruction of justice in connection with a government investigation of tax fraud by her and her husband.

In exchange for the guilty plea, the government agreed not to place Laura Cook on trial for a second time for allegedly conspiring with Wade Cook to avoid paying taxes on $9.4 million that the government said they should have reported as personal income from 1998 to 2000.

The maximum penalty for the charge of obstruction of justice is up to three years in prison and a fine of up to $250,000, but the government has agreed to recommend no more than 15 months in prison.

Laura Cook also agreed to pay restitution for the unpaid tax, which is estimated at more than $3.75 million.

A federal jury in February found Wade Cook guilty of seven charges of tax fraud, but deadlocked on whether or not Laura Cook was guilty of the same charges. The jury also deadlocked on charges of conspiracy against Wade and Laura Cook.

A new trial for Laura Cook had been scheduled to begin Aug. 13.

Wade Cook is to be sentenced on June 22.

[Doktor Avalanche]

Investment guru's wife pleads guilty to lesser charge in tax-fraud case

By David Bowermaster
Seattle Times staff reporter

Laura Cook, the wife of former investment guru Wade Cook, this afternoon pleaded guilty in U.S. District Court to one count of obstruction of justice in connection with a government investigation of tax fraud by her and her husband.

In exchange for the guilty plea, the government agreed not to place Laura Cook on trial for a second time for allegedly conspiring with Wade Cook to avoid paying taxes on $9.4 million that the government said they should have reported as personal income from 1998 to 2000.

The maximum penalty for the charge of obstruction of justice is up to three years in prison and a fine of up to $250,000, but the government has agreed to recommend no more than 15 months in prison.

Laura Cook also agreed to pay restitution for the unpaid tax, which is estimated at more than $3.75 million.

A federal jury in February found Wade Cook guilty of seven charges of tax fraud, but deadlocked on whether or not Laura Cook was guilty of the same charges. The jury also deadlocked on charges of conspiracy against Wade and Laura Cook.

A new trial for Laura Cook had been scheduled to begin Aug. 13.

Wade Cook is to be sentenced on June 22.

And now we say aloha to another idiot who thought the tax laws didn't apply to him.

Aloha, idiot.

[The Observer]

Aloha, idiot.

Book him, Dan-o