Tax Fraud Cases: What Happened Next?

Written by Colette Cassidy, Contributing Writer for InFluential Magazine

Taxes. Even the mention of the word would nearly cause you to shudder. Most of us don’t enjoy paying them but we obligingly stump up the fees imposed by the authorities so that we don’t become subjected to legal complications. There are those, however, who willingly defy the laws of the land and simply don’t pay their taxes. They can get away with it to an extent but it’s almost certain that, after a while, their misdeeds will be rumbled and the consequences are usually quite severe.

As this infographic from All Finance Tax shows, quite a few people have deliberately committed tax fraud through a variety of methods. Some went for white-collar schemes involving aliases, offshore holdings and fraudulent companies; others simply attempted to claim tax exemptions from personal expenses and bragged openly about their metaphorical raising of two fingers to the taxman.

The list of tax defrauders includes some personalities who were already in the public eye before their misdeeds. Actor Nicolas Cage, for example, ended up owing $13 million to the IRS because of frivolous spending on bizarre novelties such as a private island and two albino king cobras. Having once had a personal fortune of $150 million, he eventually became bankrupt. A few years previously, baseball icon Pete Rose neglected to report earnings from the sale of memorabilia and ended up in jail. While his sentence was brief, the scandal brought a premature end to what been a glittering sporting career and tainted his great name.

Check out the infographic below for other instances of tax fraud and how those culpable were brought to justice.