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Two get probation in scheme to avoid taxes on lottery win

Topic closed. 24 replies. Last post 5 years ago by rdgrnr.

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HoLeeKau's avatar - YheaShea
Idaho
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July 17, 2010
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Posted: July 14, 2011, 12:43 pm - IP Logged

The guy just won over a half million dollars, and he has the cajones to ask the judge to understand he only committed the crime out of financial hardship.  Geez what a moron.   If he's that bad at understanding and handling money, it was all gonna be gone in a few months anyway.

    haymaker's avatar - Lottery-012.jpg
    Egg Harbor twp.south Jersey shore
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    Posted: July 14, 2011, 5:49 pm - IP Logged

    The Patel family re-union has been cancelled, due to the fact they are in jail, hehehehe.

    family re-union moved to jail.

    Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

      sully16's avatar - sharan
      Ringleader
      Michigan
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      Posted: July 15, 2011, 8:27 am - IP Logged

      family re-union moved to jail.

      Green laugh

      Did you exchange a walk on part in the war ?

      For a lead role in a cage?

       

                                                  From Pink Floyd's " Wish you were here"

        haymaker's avatar - Lottery-012.jpg
        Egg Harbor twp.south Jersey shore
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        Posted: July 15, 2011, 4:45 pm - IP Logged

        A pair of men who conspired to hide from the tax man that one of them won $500,000 in the lottery were each sentenced to two years of probation Tuesday.

        Pennsylvania convenience store owner Charig R. Patel and frequent lottery player Kendrick D. Francis each admitted to conspiracy to defraud the IRS and making a false statement on a tax return in March and faced up to three years in a federal prison.

        However, attorneys for each of the men argued to Chief District Judge Gregory M. Sleet that the actions of both were an aberration and society would not be served if the pair were sent to prison. Both Patel and Francis had no significant criminal history and defense attorneys said both were remorseful.

        Assistant U.S. Attorney Lesley Wolf declined comment.

        According to prosecutors, in Feb. 2008, Wilmington resident Francis won a 10,000-to-one bet on the Pennsylvania Lottery's Big 4 game and because he had purchased 360 tickets with the same number — 4177 — he won $532,000.

        The problem came when Patel, owner of Conley's Market in Woodlyn, Pa., suggested to Francis that he could help him avoid paying income taxes on the proceeds by having others appear to cash a number of Francis' winning tickets. Francis agreed and paid Patel a $50,000 "fee" to have others cash in about half of his winning tickets.

        Patel's attorney, Edmund "Dan" Lyons Jr., said his client did not act out of greed but out of economic necessity as he has been struggling during the recession. Lyons, however, noted that Patel has since paid back the approximately $11,000 that the government said he owed.

        Prosecutors had pressed for a more stern sentence for Francis because he has not yet paid the $100,000 he owes. Francis' attorney, John S. Malik, said the lottery winnings are tied up in a house and his client is working to get cash to pay the debt, adding Francis made a $10,000 payment Tuesday.

        something strange here, did't notice on the first read. he won 532000  w/ 360 tickets #ed 4177. 532000 div. by 360 =1477.7777 the rounded #1477 is a box of the winning # while the post decimal #s are all 7s, a lucky #.

        Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

          haymaker's avatar - Lottery-012.jpg
          Egg Harbor twp.south Jersey shore
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          Posted: July 17, 2011, 7:12 pm - IP Logged

          So much for that scheme of only playing multiples of pick3 and pick4 because as long as each ticket wins less than $600, you can avoid paying taxes on them.Bang Head

          yea, rj,  he would need 3 times as many,360 x 3=1080 tickets to get the win down to $ 492... and he would have to run all over the place buying them at diff. times and places, and if the win was a little bigger that time. curses...foiled again. just pay the taxes.Bang Head

          Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.


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            Posted: July 17, 2011, 7:31 pm - IP Logged

            Anyone wonder why he played the 1477, or how often he spends $360 or whatever at a time? I am stuck on playing the sum of 5 right now, boxed. You can box 0.50-5.00 on a ticket, so I box them for 1.50 per ticket to avoid going over $600, should it hit (4 of them are a double number, paying $200). The two sums that would pay $600 boxed(two triples), I play them three times for 0.50. I figure my stuff out before I play big! Nothing goes right for that family LOL Group Hug

              haymaker's avatar - Lottery-012.jpg
              Egg Harbor twp.south Jersey shore
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              Posted: July 17, 2011, 7:48 pm - IP Logged

              Anyone wonder why he played the 1477, or how often he spends $360 or whatever at a time? I am stuck on playing the sum of 5 right now, boxed. You can box 0.50-5.00 on a ticket, so I box them for 1.50 per ticket to avoid going over $600, should it hit (4 of them are a double number, paying $200). The two sums that would pay $600 boxed(two triples), I play them three times for 0.50. I figure my stuff out before I play big! Nothing goes right for that family LOL Group Hug

              i don't play the 3s & 4S, did't realize you could figure the payout ahead of time,can't do this on pick 5 sometimes the 2nd prize is $542.00,sometimes it's $611.00 or somesuch, maybe his did't figure right before he bought tickets ? What?

              Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.


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                Posted: July 18, 2011, 8:56 pm - IP Logged

                i don't play the 3s & 4S, did't realize you could figure the payout ahead of time,can't do this on pick 5 sometimes the 2nd prize is $542.00,sometimes it's $611.00 or somesuch, maybe his did't figure right before he bought tickets ? What?

                For the 4 digit, it's a set payout. 

                0.50 str8 gets you 2,500

                boxed for 0.50 get you:

                100.00 eg 1234

                200.00 eg 1123

                400.00 eg 1122

                600.00 eg 1112

                On our pick 5, cash five game (5/43), it's different as well, depending on the number of winners for 4/5 

                On our pick 5, treasure hunt game (5/30), it's set at 100.00 for 4/5

                  haymaker's avatar - Lottery-012.jpg
                  Egg Harbor twp.south Jersey shore
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                  Posted: July 19, 2011, 8:18 pm - IP Logged

                  For the 4 digit, it's a set payout. 

                  0.50 str8 gets you 2,500

                  boxed for 0.50 get you:

                  100.00 eg 1234

                  200.00 eg 1123

                  400.00 eg 1122

                  600.00 eg 1112

                  On our pick 5, cash five game (5/43), it's different as well, depending on the number of winners for 4/5 

                  On our pick 5, treasure hunt game (5/30), it's set at 100.00 for 4/5

                  so you have 2, pick5 games,learn something every day.

                  Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

                    rdgrnr's avatar - walt
                    Way back up in them dadgum hills, son!
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                    Posted: July 26, 2011, 6:24 pm - IP Logged

                    The judge could have given them 3 years in prison but he didn't.

                    He gave them 2 years probation.

                    Ooooooooh, scary!

                    That'll certainly scare all the criminals away from lottery crime!

                    Somewhere, the Patels are laughing.


                                                                 
                                         
                                                             

                     

                     

                     

                     

                                                                                                                       

                    "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                                --Edmund Burke