WASHINGTON — A federal court in Tampa, Fla. has permanently barred David Marvin Swanson of Sarasota from promoting an illegal tax fraud scheme that involves sham trusts and limited liability companies, the Justice Department announced today. The court found that Swanson, who uses the business name Dynamic Monetary Strategies, promotes a system of sham trusts called “unincorporated business trust organizations” and limited liability companies on his Web site and in a manual he sells to customers.
According to the court, Swanson “falsely advises his customers that by placing the customers’ assets and income into these trusts the customers can avoid federal income tax.” The court concluded that “in organizing and selling his abusive tax schemes, Swanson made false or fraudulent statements regarding the excludibility of income.”
The order requires Swanson to notify his customers of the injunction and to give the Justice Department a list with his customers’ names, addresses, e-mail addresses, Social Security numbers and telephone numbers.
More information about this case is available at http://www.usdoj.gov/tax/txdv04111.htm
Since 2001, the Justice Department’s Tax Division has obtained more than 200 injunctions to stop the promotion of tax fraud schemes or the preparation of fraudulent returns. Information about these cases is available on the Justice Department Web site at http://www.usdoj.gov/tax/taxpress2006.htm. More information about the Justice Department’s Tax Division can be found at http://www.usdoj.gov/tax.