Larry Williams arrested in Sydney for tax evasion

My wife is a CPA, IRS enrolled agent, and here is my thought
MOST EVERYONE (WITH ANY REAL MONEY) AVOIDS TAXES to some extent....here is the kicker, the IRS, due to logistical and manpower problems can only go after so many these so called tax dodgers so why pick him and why now? HMM?? Ponderous I am.... :)
Quote from Thunderdog:

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.
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Quote from andrasnm:

My wife is a CPA, IRS enrolled agent, and here is my thought
MOST EVERYONE (WITH ANY REAL MONEY) AVOIDS TAXES to some extent....here is the kicker, the IRS, due to logistical and manpower problems can only go after so many these so called tax dodgers so why pick him and why now? HMM?? Ponderous I am.... :)
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Good question. But don't forget:

http://www.financialdirector.co.uk/...ing-tax-evasion

"Larry Williams is charged with creating false documents and using multiple bank accounts to evade his huge tax bill."

To the extent that tax evasion can be described as either passive or active, and I'm not sure that it can be--I'm just thinking "out loud" here, I would surmise that the creation of false documents would probably qualify as a fairly active form of evasion. Carefully planned, even. Perhaps even audacious, and a most unpleasant affront to the nice people at the IRS whose delicate sensibilities have been understandably unsettled. And upon uncovering such scurrying life forms underneath that particular rock, perhaps they wish to contain it. Your guess is as good as mine. No, even better because your wife is in the business. But what if, and I'm just speculating like mad here (but not more so than you did in your post on the prior page of this thread), the IRS has uncovered what it believes to be the tip of an iceberg? That would certainly be a call for immediate action, would it not?

Alas, as you, ponderous I am...
 
via: http://groups.yahoo.com/group/get_traders/

"Yes Larry Williams is speaking tonight in Sydney.
Sorry to everyone who wanted to see him in Brisbane and Melbourne and Auckland and etc etc

Details: 6-8pm Marriott Hotel Ibis Room 36 College St Sydney NSW 2000

This is Free: Bookings: http://www.adest.com.au/larrywilliams/Million.htm
Parking in the building.
All welcome - email this to or bring your friends who want to learn trading.
Show your support - next Wed he'll be doing short term trading.

We don't know what the outcome of the IRS Tax allegations will be. Larry is really fired up to make sure what may be his last seminars for quite a while will be pretty special and memorable.

Regards: David Hunt http://www.adest.com.au p: + 612 9527 4690

Warning and Disclaimer: This is general information not prepared for your specific investment objectives, financial situation or needs. consult a licenced investment adviser before making investment decisions. Our information, products, seminars and lectures are for information only and are not an invitation to trade in a financial product. * past performance is no indication of futures results. Unless specifically stated otherwise, any information contained in this has been prepared without taking into account your objectives, financial situation or needs. Before acting on any information (or advice) in this site, ADEST recommends that you consider whether it is appropriate for your circumstances. If this email contains reference to any financial products, ADEST recommends that you obtain current Product Disclosure Statements (PDS) or other disclosure documents for those particular products and consider this information before making any decisions regarding the products. The seminars and lectures by ADEST are for information only and are not an invitation to trade in a financial product. Consult your appropriately Licenced Adviser before making any decision. No Advice Given. We do not give financial advice and are no licenced to do so. ----------------------
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Quote from KRSNA:

Fact: Larry won the Trading Competition in 1987. He ran $10,000 up to $2 million but ended with $1 million at years end. Well done Larry.

Fact: Larry posted all his trades on a webpage back a few years ago from that competition. Good marketing.

(I downloaded all his statements and ran them through a money management program that told me why he has never done it again.)

Fact: That account had a 78% drawdown. This will KILL.

Fact: That account experienced a 50% drawdown every month. Fund managers feel really ill at 10% drawdown.

Fact: His Profit Factor was truly ill. Way below 1.5.(Compounding only works with a PF above 2.0)

After that analysis no need for me to spend any money at any of his workshops. Do your homework.

A fund he established after the comp had a 50% drawdown and he shut it down.

This is the real reason he chose to sell the How TO than the actually Do. There is a huge difference in actually trading for consistent weekly profits, and trading live at a seminar.

eg.Linda leventhal last I heard had not had a losing week since 1978. Now she is a real trader. How does she do it?

Fact: There is only one way to learn how to trade. Charlie D, the late great bond Trader said it.

"Time spent in the market with positions on. There is no other way, no other way, no other way."

Fact: That's how!
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MrK;
Helpful points ;
as was Thunderdog link on LW managed money.

Believe it or not I am not promoting '' 78 % drawdowns'';
but you have to consider its a trading contest.
have to be very aggressive usually to win.:cool:

As one elite moderator said years ago , something like you probably wouldn't want to trade that way; but 10k into 2 million down to 1 million is worthy of note.

Especially since some young investors or aggressive types were/are part of a fund called some thing like ''60% max drawdown fund'' [futuresmag.com
not an ad]

Did a speed read on linda Levinthal;
" Be prepared to work hard'' that Mom said,
and ''I dont think I ever left work early''.



:cool:
 
Nice article on Hedge fund managers. Makes you wonder why people believe that $3000 is enough to make real traders give up their secrets.

Btw have anyone seen Larry Williams trade live? He always claim to trade $1mil live. What mimick does he employ to get away from losing money during the live sessions? More importantly, why do previous attendees not see through his scheme and expose him?

(he is 64 yrs old! he should be retired lol)
 
Quote from Remiraz:

Nice article on Hedge fund managers. Makes you wonder why people believe that $3000 is enough to make real traders give up their secrets.

Btw have anyone seen Larry Williams trade live? He always claim to trade $1mil live. What mimick does he employ to get away from losing money during the live sessions? More importantly, why do previous attendees not see through his scheme and expose him?

(he is 64 yrs old! he should be retired lol)
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Why should he retire when there's still a bunch of young guys like yourself around to take money from? Maybe you should contact T. Boone Pickens, one of the top hedge fund managers in your article, age 70+, and tell him you think he should retire. LOL!

OldTrader
 
Very true OldTrader.

The age old story of the old bull and the young bull. Just in case there is a young bull who has not heard it.

Young bull says to old bull "let's run down the hill and do that heifer." old bull replies, "let's just walk down and do the whole herd."

Remember puppy traders the average age of the top 5 traders/hedge fund boys is 61 years. T.Boone has made more in his 70's than the previous 50 years.

What other business can you get better at and paid more as you get older and older. Read of an old trader some years ago who was 92 and still trading in NYSE, been there since the 29 crash!

Trouble with coaching traders is 90% still lose, no matter what you teach them. Unless you adopt them they just get the yips and self sabatage.

Larry just gives them a hot tub for a few days. if he had set up a hedge fund years ago he'd be a zillionaire. Just took what looked the safer option. Bad trade.

After 20 years trading I am just beginning to get good at it. I look forward to my 60's and 70's...and still be trading. I'm sure Larry does as well.
 
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