Bogus Asset Protection Scheme Busted by DOJ

[Riser Adkisson LLP]

This isn't anything like legitimate asset protection, but does illustrate the junk that is marketed as "asset protection" that is anything but.

---------------------------


Business Allegedly Helped Customers Evade Taxes


WASHINGTON, Oct. 16 /PRNewswire-USNewswire/ -- A federal judge in St. George,
Utah, has permanently enjoined Kent Bickmore, the founder of a so-called
asset-protection business, from helping customers file fraudulent liens and
create hidden nominee bank accounts, the Justice Department announced today.
Bickmore agreed to the injunction without admitting the government's
allegations.


The government's complaint alleged that Bickmore of St. George, Utah, operated
the now-defunct Asset Protection Plus Inc., which helped customers place sham
liens on their property to deceive creditors, including the Internal Revenue
Service. Bickmore and Asset Protection also allegedly helped customers hide
their income and assets by holding their money in bank accounts under nominee
names.


In the past decade, the Justice Department's Tax Division has obtained more
than 430 injunctions against tax fraud promoters and tax return preparers.
Information about these cases is available on the Justice Department's Web
site, as is information about the Justice Department's Tax Division.


SOURCE U.S. Department of Justice

U.S. Department of Justice Office of Public Affairs, +1-202-514-2007, TDD
+1-202-514-1888