Mr. Fix It
Nitro Member
More Evan Knoll...... (1 Viewer)
- Thread starter Mr. Fix It
- Start date
Bill, I read your post and immediately thought "no way his sponsorship would be considered a fraudulent conveyance." Then I got looking and weaved into the constructive fraudulent transfer rules .... and it's not so clear. He spread his sponsorships so broadly that I doubt any trustee would take the time, but is certainly an interesting thought you brought us to consider.
mw6789
Nitro Member
Remember the IRS makes up the rules as they go.
indidad- The Guy- Uncle Steve
Nitro Member
You know the old saying, " Don't cheat the U.S. Government....They hate competition."
NitroRichFire
Nitro Member
Good one Steve!
Makes you wonder how he got away with it as long as he did!
they must have assumed he was a politician and looked the other way.
Fast Al
Nitro Member
"I doubt any trustee would take the time"----I don't know, but if they look at it as receiving stolen property, they may go after anyone connected that received money, that they feel they can collect from. The IRS does seem to make their own rules. I've seen them financially ruin some people for far less money than what we're talking about here.
jackass
Nitro Member
Makes you wonder how he got away with it as long as he did!
i always figured someone from Washington came looking for a kick back .. he did not offer one big enough..
same things going on with all the "GREEN" companys right now...
personaly.. and i know someone will attack me on this.. i figure money from G-ment going to drag racing.. properly or improperly.. is better than a million spent on the mating habits of a grasshopper.. which they do hand out every year....lol
clwill
Nitro Member
The last several posts are bending quite political, and if history proves correct, the tendency is for a train wreck. Hence my cautionary note.
So, if you want to discuss a former sponsor and his issues, that's drag racing. If you want to discuss the government/washington/etc., that's politics, and I will happily move this thread there.
indidad- The Guy- Uncle Steve
Nitro Member
mw6789
Nitro Member
Hey we're just getting the biggest crooks first. The penny ante ones have to wait till later.
And they have a section for that.Hey we're just getting the biggest crooks first. The penny ante ones have to wait till later.
I am surprised by the amount of people that won't call Knoll what he is. A thief who is trying to use an insanity defense to get out of ripping YOU AND I off.
Oh well, "he did good for the sport". Wait till the IRS starts coming after payments made to teams, seizing rigs and racing cars and consumables.
We shall see how many defend him then. Little different when its your stuff getting taken from you.
If anyone doesn't think there's a chance the IRS could go after EVERYONE who shared in the wealth this loser spread around they are delusional at best. Unknowingly being paid with stolen funds is not illegal, but there are cases where you are required to pay the money back. This may end up making it painfully obvious for some that he did nothing to help the sport, or anyone involved in it. The sooner people can wrap their head around that, the better.
