What was Haas thinking?

[Galveston dunes]

Gen Haas has pleaded guilty of tax evation and will start serving his 2 years in federal prison in Jan. Owing 35 mill and filing under a dummy corp. to hide the cost; He now has to pay the IRS 70 mill and serve 2 years. At the age of 54 one could say hes headed the wrong way after a long tenure in the sport as a good guy.

[RaceFanStan]

What blows me away is that his fine was $5 million on top of 2 years in prison ...
plus it also cost him back taxes and interests of more than $70 million ...
the fraud was to hide over $34 million in taxes from the government ...
what a dumb move on his part !!! http://www.motorsportforum.com/forums/images/icons/rolleyes.gif

http://sports.yahoo.com/nascar/news;_ylt=AndaNFHtsDx3Xu8UQi1wxnnov7YF?slug=ap-nascar-haassentenced&prov=ap&type=lgns

All I can add is ...
Gene, YOU PROBABLY SHOULDN'T PICK-UP THE SOAP IF YOU DROP IT !!! http://i57.photobucket.com/albums/g202/gr8link/orn/00.gif

[BenRoethig]

If I were Riggs and Mayfield, I wouldn't put my resumes away just yet.

[Alexamateo]

From what I heard, his company lost a patent infringement lawsuit. In his opinion, the government made the wrong decision in that case, so he was determined to take back from the government what was rightly his, in this case the lost earnings from this patent case. This was when he conspired to defraud the government by setting up a bogus company and phony invoices so that his company would show less earnings. The bogus company then kicked back money to he and his partners.

It just goes to show, you can get away with murder in this country, but don't mess with the tax man! :p : :eek:

[Galveston dunes]

but don't mess with the tax man! :p : :eek:


Or the child support division in Michigan.
A friend of mine has direct deposit for the past 5 years I've known him. To pay back arrearages for child support and all of a sudden the welfare people drained his checking and savings accounts from his banks. Only after retaining a Atty he was able to get back $100. on every $1,000 they took.The ramifacations of bounced checks and such but him deeper in the hole and is unable to get any help clearing his name on his credit report.Michigan is more or less broke and will go to many leanths to obscond any percentage of monatary value they can get. So if you have a payment plan make sure you check that your past due child support has been reviewed or even upgraded in the past year or this could happen to you.

[Sparky1329]

If I were Riggs and Mayfield, I wouldn't put my resumes away just yet.

You may be right.

[CCFanatic]

Michigan is big and good on getting money people owe to the government.


I think Haas/CNC Racing will be around for 2008. For the team's size, they have some of the best sponsors in the sport, with Best Buy, and Comcast.

[BenRoethig]

Best Buy is leaving for Gillet Evernham's 19.