A Valuation Perspective In this article, three U.S. Tax Court cases are discussed. Each case stems from the fallout which occurred after the discovery of the Madoff Ponzi scheme amounted to more than just lost investments for each of the investors. The end-effect is much more far-reaching and complex, as many investors have been forced to pay hefty legal bills in a battle to reduce their estate tax liability on monies that did not actually exist. To confound the fight, the battles are complex, and sometimes a matter of first impression for the Tax Court.
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Fraud’s History is Impressive: From Over-the-Counter Cure-Alls to Florida Real Estate and Musical Talent Fraud The Association of Certified Fraud Examiners has built up a choice collection of fraud souvenirs under founder and chairman Dr. Joseph T. Wells. Visit the Accounting Today site to see some of the most notable pieces, which include Bernie Madoff’s cigar box, an Enron stock certificate, a Nigerian Fraud letter, actual documents from the 18th Century South Sea Bubble, Orangeine Over-the-Counter Medicine, a Florida Land Warranty Deal, a Swedish Match King [Ivan Kreuger] Debenture Certificate, Musical Frauds [“Your song may have great merit!”], an 1854 Police…