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financial management products aimed at protecting assets and/or
addressing contingencies that might arise in the face of death or
other hardship. As he began to focus more of his efforts on
promoting Aegis trusts, he continued to be engaged, through a
sole proprietorship, in selling financial management products
aimed at protecting assets and/or addressing contingencies that
might arise in the face of death or other hardship. Aegis trust
packages were advertised as tools to: Legally reduce Federal and
State income taxes “70% or More”; eliminate Federal estate taxes
no matter the size of the estate; sell a business or other assets
and pay no capital gain taxes; and protect personal assets from
lawsuit judgments. Mr. Richardson testified:
A * * * Asset Protection Services was to
provide asset protection. That’s basically what it
says, and that would be insurance basically and provide
trying to sell trusts as well. Yes.
Q Okay. So your sole proprietorship was to
sell both insurance and Aegis trusts.
A That’s correct.
Q You had been selling insurance for several
years before 1996. Is that correct?
A Right.
Q Back to at least 1992?
A 1992 or ’93.
Q Before 1996 you called your sole
proprietorship Benefit Planning Services.
A That’s correct.
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