It seems ex-HP chairman Ray Lane is as good at picking tax shelters as software companies, since the IRS now says he owes them $100m in unpaid taxes from an investment scheme that has been ruled illegal. Papers filed in the Washington tax court show claim Lane, who stepped down from HP in April in the wake of the botched …
Hope that sticks
I doubt he went into it with his eyes shut. He knew exactly what tax risks he was taking.
"The amount of taxes I pay are staggering, and this is the only transaction I've been audited on."
The amount of compensation I receive is astronomical and I could never spend it all in a 100 lifetimes.
Spend all that money?
Especially if he is in jail!
Re: Spend all that money?....Especially if he is in jail!
Of course, it would be protection money to insure that IF he were to drop the soap he would not become someone's bitch!!
BTW, I wonder how Bernie Madoff is doing these days???? Is he enjoying his stay at Club Fed.
What, a billion dollars? Give that to me; guaranteed I can start a Formula One team and be broke in three years!
Yet another example...
... of the dodgy characters at the top of HP. Their greed is outrageous beyond belief. All this and still no pay rise for me for 6 years :-(
AC for obvious reasons.
Eventually the scourge of greed that is the Worst Generation (Baby Boomers) will all die and society will begin to recover. Not before their grand kids are in bread lines the way things are going though.
Re: flame on
Don't associate the rest of us "baby boomers" with pieces of shite like the subject of the article.
(bus pass is in here somewhere)
HP really picks 'em
HP has picked another poster child for how to do it wrong. If you or I dodged a tax bill of that size, we'd be in Leavenworth. No one puts that much cash into a dubious shelter without asking a lot of questions, so Lane seems to be disingenuous at least.
Re: HP really picks 'em
Here is the thing:
1) there are the public statements made by Lane, et al, who get "caught"
2) then there is the reality of the situation, they knew exactly what they were getting into.
Do you really expect them to admit anything???
Should have moved to the UK
The tax-avoider/money-launderer's State of choice.
Then a good lunch or two with a high-ranking UK tax official could have sorted him out.
Re: Should have moved to the UK
"a good lunch or two with a high-ranking UK tax official"
I think you may have missed a bit: "a high ranking UK tax official working on lining up cushy numbers at leading financial institutions such as Deloittes and HSBC".
Article specifically from the Mail because if even the Mail sees it as a bad thing, you know it's truly gone too far.
Criminal in so many ways
So who is going investigate how he got HP to pay $11B for a company worth $1B?
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