FORT LAUDERDALE, Fla. (AP) - A Broward County man is facing up to 168 years in federal prison for a conviction on tax fraud charges.
Prosecutors said Monday that Michael D. Beiter sold investors so-called "pure trusts" allowing them to declare their independence from typical obligations such as paying taxes and debts.
Trial testimony showed Beiter sold more than 100 of these investment packages. Beiter also reported no income and taxes between 2004 and 2006 despite earning $1.8 million in taxable income.
Prosecutors say people should beware of those who claim there are secret ways to avoid taxes.
Beiter is to be sentenced Jan. 28 in Fort Lauderdale federal court. The maximum is 168 years behind bars, though Beiter could get far less time.