Michael C. Cooper, Convicted in Tax Scam, Dies a Prisoner at 66 [The New York Times]
Mr. Cooper Group Inc. (COOP)
Last mr. cooper group inc. earnings: 4/30 07:00 am
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Source: The New York Times
For decades Michael C. Cooper ran small-time investment and marketing scams in Topeka, Kan., repeatedly clashing with securities and consumer protection agencies. He mocked their actions as inconsequential and ineffective.Then, in 1997, as Senate hearings in Washington were dramatizing supposed abuses of taxpayers by the Internal Revenue Service, Mr. Cooper saw an opportunity to profit from public resentment of the tax system — and to move up from a local flimflam artist to a national one.He launched Renaissance/The Tax People, a tax-avoidance business that ultimately ensnared about 50,000 Americans — until a Kansas state judge shut the firm down in 2001, ruling that it was an illegal pyramid scheme of a “fundamentally deceptive nature” that had cost customers and investors at least $84 million.Tried, convicted and sentenced to 25 years to life in prison, Mr. Cooper never got out. He died on Friday, the Federal Bureau of Prisons confirmed without stating a cause. He had been held at t
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