Sequence Inc. Fraud Files Blog

Usana executives aren’t the only ones lying about their credentials

13 Jan 2008

See! Usana Health Sciences (NASDAQ: USNA) CFO Gill Fuller was right when he said that everyone was lying about their credentials (including him!). The CEO of CellCyte (Public, OTC:CCYG) was recently busted for embellishing his resume, and the stockholders have paid dearly. Gary Reys, the co-founder and CEO of CellCyte Genetics was busted by The Seattle [...]

40 days of Frivolous Tax Arguments: Federal Reserve Notes are not income

10 Jan 2008

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Here the jokers are saying that our money isn’t legit, so it’s not really money, so it can’t be taxed. Really? Well I wonder what they do when they go to the grocery store? Do they use *gasp* money???? The truth is that Congress can call something money if they want to. The Constitution says that [...]

40 days of Frivolous Tax Arguments: Only foreign-source income is taxable.

09 Jan 2008

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The argument that there is no law that allows the government to impose a tax on income from within the United States is plain wrong. The tax rules say that all people in the United States, have to pay tax on income inside and outside the United States. There are provisions to prevent double taxation, [...]

Patrick Byrne “screws up” Overstock.com and the board of directors rewards him

07 Jan 2008

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In the January 2nd press release announcing Jason Lindsey’s departure from Overstock.com (NASDAQ: OSTK), Patrick Byrne said the following: “Jason co-founded the company and helped build it before retiring the first time. When I screwed it up a couple years ago he came out of retirement and has played a decisive role getting it back [...]

Patrick Byrne: Still too busy to run that dog of a company, Overstock.com

04 Jan 2008

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You’d think that with the sudden resignation of Overstock.com’s (NASDAQ: OSTK) president, COO, co-founder, and board member Jason Lindsey, Patrick Byrne might be a little bit busy. After all, when high-level executives bail without warning from a sinking ship like Overstock, and there’s no replacement to be had, there tends to be a bit of [...]

From White Collar Crime Fighter: Why were law partners unaware that none of them was signing disbursement checks?

02 Jan 2008

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New Orleans, LA. Lisa Mayerhafer, a former administrator for the New Orleans law firm Gertler, Gertler, Vincent and Plotkin, was charged with stealing more than $200,000 in a bank fraud scheme over several years. Background: According to federal court documents, Mayerhafer worked for the firm as an office administrator from 1997 to April 2007. Her [...]

40 days of Frivolous Tax Arguments: Wages, tips, and other compensation received for personal services are not income.

02 Jan 2008

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How funny. In America, almost everything is “income.” That’s just how things work. Heck… you can’t even win a prize without that being income. About the only thing that is not income is a gift or an inheritance, but even those are easily taxed by our government. The heart of the argument against wages being income [...]

40 days of Frivolous Tax Arguments: Compliance with an administrative summons issued by the IRS is voluntary.

31 Dec 2007

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IRS sends taxpayer an administrative summons. Taxpayer claims that responding and complying is voluntary. Not so. A summons is a command to appear, testify, and produce documents, and the IRS is authorized to issue one. The district courts will enforce the summons, if necessary. And yes, there can be criminal penalties. [...]

40 days of Frivolous Tax Arguments: The IRS must prepare federal tax returns for a person who fails to file.

30 Dec 2007

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Supporters of this bogus theory say that it’s the IRS’s responsibility to prepare and file a tax return for them if they don’t file. But the tax law really says that if someone doesn’t file their return, the IRS can prepare their return (i.e. make up numbers for the person). It doesn’t say that the [...]

40 days of Frivolous Tax Arguments: Taxpayers can reduce their federal income tax liability by filing a “zero return.”

29 Dec 2007

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This one is at least a little creative. File a tax return showing no taxable income, and your taxes are zero. That would work if you really have no income. But since most of us have W-2s and 1099s and such, that “zero income” return is actually false… and you really do owe taxes. Don’t you [...]

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Usana executives aren’t the only ones lying about their credentials

40 days of Frivolous Tax Arguments: Federal Reserve Notes are not income

40 days of Frivolous Tax Arguments: Only foreign-source income is taxable.

Patrick Byrne “screws up” Overstock.com and the board of directors rewards him

Patrick Byrne: Still too busy to run that dog of a company, Overstock.com

From White Collar Crime Fighter: Why were law partners unaware that none of them was signing disbursement checks?

40 days of Frivolous Tax Arguments: Wages, tips, and other compensation received for personal services are not income.

40 days of Frivolous Tax Arguments: Compliance with an administrative summons issued by the IRS is voluntary.

40 days of Frivolous Tax Arguments: The IRS must prepare federal tax returns for a person who fails to file.

40 days of Frivolous Tax Arguments: Taxpayers can reduce their federal income tax liability by filing a “zero return.”

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