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Mark Twain defined a gold mine as a hole in the ground with a liar on the top. Today (Aug. 20) Douglas Ellingson pleaded guilty to investment fraud. He sold more than $2 million worth of stock that was secured by the precious metals produced by a mining company. But the company had not even begun operations.

William Richard Bailey, an osteopathic physician, was arraigned today on eight counts of tax evasion. According to the U.S. Attorney's office, he reported zero income on tax returns from 2004 through 2011. The indictment charges that he set up an unincorporated business trust organization, and opened a bank account in its name. He received checks for his medical work but stuffed them in the trust and reported no income to the Internal Revenue Service, says the U.S. Attorney's office.

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Comments

Don Bauder Aug. 21, 2013 @ 6:39 a.m.

Yankeedoodle: I have used the quote before -- going back decades. Best, Don Bauder

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