Larry Williams arrested in Sydney for tax evasion

Quote from spike500:


There are people who make money as a trader, and there are people making money by giving seminars. Too many times the two groups get mixed up. A trader is a trader, and a lecturer is a lecturer.
People who make money by trading have no interest in giving seminars for two reasons: they don't want to share their knowledge, and while giving seminars they lose money because a seminar can never generate the profits that a good trader can make.
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There isn't a single thing in that post that I don't agree with. But this is ET, we cannot have common sense here now can we? :cool:
 
My calculation of his income per seminar was based on this thread. http://www.elitetrader.com/vb/showthread.php?s=&threadid=39320

Ive also read somewhere else that the MDC seminars were around 5 grand and had about 100 attendees.

How many traders here on ET make a similar amount out of the markets in two days? Maybe a few, but not guaranteed and risk free.

Quote from spike500:


Another example: Christian Bahia from Quadriga funds. 37 years old and already worth over 230 million dollars. Or equal to 460 seminars as you described them in a very optimistic calculation.
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Very bad example. Christian Baha sucks as a trader and his funds dont perform well lately. But he is making good money with fees and such.
 
Tom Peters said way back in the 80's that trading knowledge would become a huge global business. Larry trades his knowledge contracts to the neverending stream of buyers who take the other side. He just neglected to pay the exchange fees...by giving a slice to Uncle Sam.
 
Quote from Chriz:



How many traders here on ET make a similar amount out of the markets in two days? Maybe a few, but not guaranteed and risk free.
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We are talking about one of the toptraders in the world, don't compare him with us, but with succesful traders. He will lose against toptraders.


Quote from Chriz:


Very bad example. Christian Baha sucks as a trader and his funds dont perform well lately. But he is making good money with fees and such.
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No, a VERY GOOD example. If a louzy trader, or you can even call him a loser, makes that amount of money, how can a good trader than be beaten by Larry Williams?
You provided me an excellent confirmation for my posting.


Giving seminars appears no to be riskfree either. :D
 
On paper the burden of proof should always be on the accuser however we all know how the world works! Snatching Larry down under is not a good sign and no matter how you slice it he is in DEEP SHIT. I wonder if he made some anti Bush comments to the aussies or he is maybe against our glorious and not so victorious war in Iraq......
Quote from mss:

I think that, in civil cases, the burden is usually, but not always, on the taxpayer. In criminal cases, I think the burden is always on the government.
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Quote from andrasnm:

...I wonder if he made some anti Bush comments to the aussies or he is maybe against our glorious and not so victorious war in Iraq...
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Or, and here's a thought, maybe he just evaded paying his taxes.

What would be interesting is if the authorities saw fit to do a thorough and complete forensic accounting of all his business dealings going back to the time he won his much touted trading contest. I imagine that if any criminal activity at all has been suspected, as appears to be the case by virtue of the allegations of fraud, then any otherwise relevant statute of limitations might not be binding, as suggested by other posters earlier in this thread. I would be most curious to know what might crawl out from under that rock.
 
Love this headline.

LARRY Williams, the international share trader wanted in the US for tax evasion, will carry on with his Sydney get-rich-quick seminars despite struggling to raise his $1million bail this week.
 
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