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Credit Pacific Service Union By Staff

You have a right to sue a credit repair company that violates the "Colorado Credit Services Organization Act".

Credit First Service Union (AXcess News) Washington - The Justice Department announced today that it has sued two Las Vegas-based promoters of an alleged sham-trust tax scheme that the complaint alleges has caused an estimated $31 million in losses to the federal treasury. The suit alleges that Reinhold Sommerstedt and Daniel Young of Las Vegas sold sham-trust packages to customers for as much as $14,500 and helped their customers hide their income from the IRS in Caribbean bank accounts. The defendants' customers allegedly used phony loans and gifts to repatriate their money while concealing their income from the IRS.

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Card Credit Mobile Service Also named in the suit are Lynn Lakers, a Boulder City, Nev. tax-return preparer who allegedly prepared false tax returns for the phony trusts used in the scheme, and Stephen Nestor of Boise, Idaho, a former IRS revenue officer who allegedly signed tax returns on behalf of the bogus trusts.

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Card Credit Discover Service "The Department of Justice is firmly committed to shutting down fraudulent trust schemes that cost the treasury and law-abiding taxpayers millions of dollars each year," said Eileen J. O'Connor, Assistant Attorney General for the Justice Department's Tax Division.

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