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Two Utah Men Indicted on Tax Fraud Conspiracy Charges

By , | Posted - Sep 10th, 2004 @ 10:34am

SALT LAKE CITY (AP) -- A federal grand jury has indicted two Utah men with conspiracy to defraud the Internal Revenue Service of more than seven (M) million dollars over a nine-year period.

Lanny White, of Orem, and Max Lloyd, of Midvale, are accused of marketing a fraudulent trust scheme to more than 300 clients between 1993 and 2002 that promised to legally reduce income tax liability.

Prosecutors allege that the two men claimed to be successful investors promoting a safe way to reduce taxes.

The two are also charged with filing fraudulent federal tax returns.

Six other individuals have pleaded guilty to conspiracy charges in the same investigation. Todd Cannon and Lance Hatch pleaded guilty in March, while David Orr, Michael Behunin, Martin Arnoldini and Jerrold Boschma pleaded guilty in April.

(Copyright 2004 by The Associated Press. All Rights Reserved.)

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