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back to article HP's Ray Lane faces $100m tax bill over 'sham' tax shelter

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 …

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  1. Anonymous Coward
    Go

    Hope that sticks

    See title

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  2. Shagbag

    I doubt he went into it with his eyes shut. He knew exactly what tax risks he was taking.

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  3. panhead20

    "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.

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    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Spend all that money?

      Especially if he is in jail!

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      1. Fatman
        Reply Icon

        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.

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    2. Anonymous Coward
      Reply Icon
      Anonymous Coward

      What, a billion dollars? Give that to me; guaranteed I can start a Formula One team and be broke in three years!

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  4. Anonymous Coward
    Anonymous Coward

    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.

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  5. asdf
    Mushroom

    flame on

    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.

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    1. John McCallum
      Reply Icon
      Coat

      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)

      2 0
  6. Anonymous Coward
    Anonymous Coward

    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.

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    1. Fatman
      Reply Icon

      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???

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  7. Anonymous Coward
    Anonymous Coward

    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.

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    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      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".

      http://www.dailymail.co.uk/news/article-2331901/Dave-Hartnett-HMRC-chief-gets-job-accountancy-giant-Deloitte.html

      Article specifically from the Mail because if even the Mail sees it as a bad thing, you know it's truly gone too far.

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  8. Allison Park
    Paris Hilton

    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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