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The record also contains an example of an announcement for
an advanced business trust workshop sponsored by HGAMC in Ohio in
1999.6 Mr. Richardson sent out an invitation stating:
I am writing to let you know about an ADVANCED BUSINESS
TRUST WORKSHOP that HG Asset Management Company is
sponsoring. This workshop will be conducted by Mike
Vallone, the Executive Director of Aegis. It will be
three full days from 9 a.m. until 5 p.m. each day
devoted to the complete CBO System. This workshop goes
beyond what you may have learned at the Basic CBO
Workshop given by Homer Richardson and Wil Graham. You
will study how to properly move money through the
system, and how you should operate the charitable
trust. We will show you how Offshore entities, such as
offshore trusts, and International Business Companies
can be used in connection with this system to get
incredible tax advantages, as well as even greater
privacy and protection from the IRS. In fact, we will
show you how to create a CBO that has NO tax reporting
requirements in the U.S.
To provide ongoing support to clients who purchased trust
packages, petitioners as directors of HGAMC at a December 29,
1998, board meeting affirmed and ratified the creation of a
department within HGAMC to provide management services, to be
known as Trust Management Services. A bank account had been
opened in the name of HG Asset Management Co. d.b.a. Trust
Management Services on June 29, 1998, at Lebanon Citizens
National Bank, over which petitioners had signatory authority.
Subsequently, in February of 2000, the structure of
petitioners’ entities was again altered with the creation of
6 An apparently similar seminar conducted in 1998 was
approved by the Ohio Supreme Court Commission on Continuing Legal
Education for 19.5 hours of CLE credit.
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