A federal judge has blasted the prominent Toledo, Ohio, family behind doormaker Therma-Tru Corp., saying its members ginned up $204 million in phony losses to duck taxes from a $211 million partial stock sale in 2000. In upholding an Internal Revenue Service bill for $56 million-$16 million of that penalties-plus interest, Court of Federal Claims Judge Christine Odell Cook Miller said founder David K. Welles Sr., who died last year,rnand kin adopted an illegal strategy involving foreign currency options. "The latest sacrilege committed in the name of tax avoidance," she declared. (Fortune Brands bought all of Therma-Tru, including the remaining Welles stake, in 2003.)
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机译:一名联邦法官炮轰了俄亥俄州著名的托莱多家族,背后是门卫Therma-Tru Corp.,其成员从2000年的2.11亿美元部分股票出售中骗取了2.04亿美元的虚假亏损以减免税款。联邦索赔法院法官克里斯蒂娜·奥德尔·库克·米勒(Christine Odell Cook Miller)以罚款中的5600万美元至1600万美元加利息计,称去年去世的创始人大卫·K·威尔斯(David K. Welles Sr.)采取了一项涉及外汇期权的非法策略。她宣称:“最新的牺牲是以避税的名义进行的。” (《财富》杂志于2003年购买了Therma-Tru的全部股份,包括在Welles的剩余股份。)
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