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Stanford Owes IRS Millions

CaribWorldNews, NEW YORK, NY, Tues. Mar. 17, 2009: Seems the former billionaire known as Sir Allen Stanford did not think he had to pay U.S. taxes.

The Internal Revenue Service claims the alleged swindler owes them at least $226.6 million in back taxes. The agency has filed a motion in the U.S. District Court in Dallas claiming Stanford and his wife Susan owe the U.S. government $226.6 million in unpaid federal income taxes between 1999 and 2003.

And Stanford’s tax debt could inflate even more as he hasn’t filed his income tax return for 2007, the IRS said.

A federal judge in Dallas has frozen Stanford’s assets and placed his U.S. operations into receivership as federal regulators have accused Stanford of running a massive Ponzi scheme.