Some tax pitches promise near-total tax savings while letting business owners keep control of their money. According to the Justice Department, one such trust-based scheme crossed the line into tax evasion, causing roughly $40 million in losses...
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How a $40 Million Tax Scheme Snared Its Promoters
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Subscribe10 JUN 2026 / ACCOUNTING & TAXES
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The US Department of Justice has convicted four individuals - Marcia Predmore, Roderick Prescott, Suzanne Thompson, and Weldon Wulstein - for a trust-based tax evasion scheme that cost the US government approximately $40 million. The defendants' scheme allegedly enabled clients to claim tax benefits on 98% of business profits and maintain personal control of the money, with improper personal and charitable deductions generated through a layered trust structure.
Some tax pitches promise near-total tax savings while letting business owners keep control of their money. According to the Justice Department, one such trust-based scheme crossed the line into tax evasion, causing roughly $40 million in losses...
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