gene haas arrested

jhearons · Jun 20, 2006

psychomill · Jun 20, 2006

LOL!!!!!!!!!!!!!!!!!!!

bradleyk · Jun 20, 2006

That might make Haas demo day a little uncomfortable tomorrow for all the Haas Factory Outlets.

Madlab · Jun 20, 2006

Why LOL?????
This doesn’t seem funny to me, and I don’t see how it can be funny to anyone who cares about our country or manufacturing. Yeah the bigger they are...... but when the government comes after Gene Haas, something is wrong.

Milacron · Jun 20, 2006

Wow...I agree...not funny. Should get interesting as the saga unfolds though....

art_deco_machine · Jun 20, 2006

I didn't know there was any money in machine tools.

Held without bail? That is a little extreme, isn't it?

Solar71 · Jun 20, 2006

Hmm...

Well, IF the accuseations are true...
He should pay...

But it could be false of course... (hopefully)

20 million is a lot of money...

psychomill · Jun 20, 2006

Relax some guys.... How about a chuckle???

but when the government comes after Gene Haas, something is wrong.

What's that all about? I think they should come down on all things wrong, illegal, making gains at the cost of others... whatever. It's when they spend time, effort and big time dollars on questionable grounds when things become a real problem.

Innocent till proven guilty.... I believe that.

I'm still laughing though....

and NO... I don't wish this on anybody... including Gene Haas.

mill hand · Jun 20, 2006

roflmao

JohnW · Jun 20, 2006

Wow, held without bail for fear that Gene Haas might fly to Cessna to China. . . . http://www.dailynews.com/news/ci_3957311

" charged with orchestrating a tax fraud that cost the government nearly $20 million as well as intimidating witnesses and a federal agent investigating the case."
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2006/06/20/BUGUPJGTFN1.DTL&type=business

Sigh, this is the guy who choose to build his factory in the US.

The sharks are already circling. I was informed by Haas's competitor this morning asking if I want to reconsider my order with Haas.

Gary E · Jun 20, 2006

I looked to see if Haas is a public co listed on any exchange, and so far it's not. Anyone know anymore about if it's a listed Co somewhere?

JohnW · Jun 20, 2006

I think Haas is a privately held company. . . .

anyway, if anyone is interested, the press release from the US attorney's office is at,

http://www.usdoj.gov/usao/cac/pr2006/077.html

A paragraph of interested:

"The scheme allegedly started in 2000 after Haas paid approximately $8.9 million to settle a patent infringement lawsuit brought against it by a rival firm. According to the indictment, Haas blamed his loss in the case on the federal judge who presided over the lawsuit. In September 2000, Haas allegedly created several tax fraud schemes to recover from the government the $8.9 million plus legal fees that he paid the rival company."

Given what I've seen in the recent years with the public listed companies, ie Boeing & Halliburton and our own government I think holding someone without bail for alledged $20 million in tax evasion on a revenue of $500 million is a little excessive.

To me, it appears that Gene got a little personal after loosing to Hurco? on the conversational control patent infringement lawsuit. Neither greed nor wanting to cause physical harm were factors.

Anyway, good thing about democracy is that you can let your government officials know how you feel about their decisions.

US Attorney Office's Public Affairs Officer.
Thom Mrozek (213) 894-6947
[email protected]

minder · Jun 20, 2006

QUOTE:A businessman who has donated hundreds of thousands of dollars to local colleges and nonprofits is accused of defrauding the government of more than $20 million in taxes.UNQUOTE

......I seem to remember a similar story, someone called Robin Hood!!........

doug925 · Jun 20, 2006

That sucks!

What DID happen to innocent until proven guilty????

China!

Humph, I would consider Rio...

I say stick it to the man! (the govenment I mean)
Taxes...we don need any stincking taxes....

And, if any IRS guys are reading this, I was only kidding. I always pay ALL my taxes.

Waynno · Jun 20, 2006

Thats why I own A Fadal! Just Kidding

dkmc · Jun 20, 2006

Ok so, IF...IF he's guilty.......
He'll come back bigger & stronger and a hero to
the community.
Happens all the time in Hollyweird.

dk

appliedproto · Jun 20, 2006

This probably can't be good for Haas as a whole? Other employees indicted and phoney business transactions...

My oldman used to have problems with the IRS when he had a large manufacturing outfit. But you gotta be a real badboy to be put in the clink w/o bail for tax envasion.

Madlab · Jun 20, 2006

What's that all about? I think they should come down on all things wrong, illegal, making gains at the cost of others... whatever. It's when they spend time, effort and big time dollars on questionable grounds when things become a real problem.

Well it's about a Government that is out of control. Hass is no dummy and from what is being reported by the IRS it sure sounds like something that when brought to the attention of the company, they would have cooperated with the government. Neither ME nor YOU know the story...But having friends in some of these agencies and hearing how poorly run they are.
I would take the side of most people (even you) when the IRS said you were guilty. This is from the country that is trying Marines for the crime of protecting our country. You know... I think I am beginning to sound like one of those wako's but I have had enough of this crap.
And if you want to laugh go ahead it' a free country for now. Do you really think if there were intelligent parties on both sides they would come to his house and arrest him? This makes no sense.

It's when they spend time, effort and big time dollars on questionable grounds when things become a real problem.

Yeah that is part of my point. If the government takes this guy down, what will it do to you and me? Anyway man I am sure you are a great guy but to me this is important. So when He is able to give his side of the story and if he is found not guilty then I will be sending you a big I told you so and of course I will expect one from you if he is a bad guy. Yep, the goverment is allways right.

mill hand · Jun 20, 2006

us attorneys office trying to get a trophy on the wall.

Gary E · Jun 20, 2006

Guys...are you ignoring this???

"The scheme allegedly started in 2000 after Haas paid approximately $8.9 million to settle a patent infringement lawsuit brought against it by a rival firm. According to the indictment, Haas blamed his loss in the case on the federal judge who presided over the lawsuit. In September 2000, Haas allegedly created several tax fraud schemes to recover from the government the $8.9 million plus legal fees that he paid the rival company."

Must be a lot of profit in MachineTools these days to have $8.9 mil layng around to pay a fine.

Did Someone say Hurco was the winner of that suit?
Well...look at Hurcos stock...
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=hurc&sid=0&o_symb=hurc

gene haas arrested

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