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 SEATTLE (AP) - A man operated a "warehouse bank" out of his home in the south Seattle suburbs, taking at least $28 million from people around the country who wanted the discretion of a Swiss bank account without going to Switzerland, according to court documents unsealed Tuesday.
Robert Arant, of Des Moines, had hundreds of customers, many of whom apparently used the bank to conceal assets for the purpose of evading taxes, IRS agent Susan Killingsworth wrote in a sworn declaration. U.S. District Court Judge Marsha Pechman issued a preliminary injunction last month freezing the assets of his bank, Olympic Business Systems LLC.
A civil complaint filed under seal in U.S. District Court April 6 charges Arant with promoting abusive tax shelters and unlawfully interfering with internal revenue laws. Killingsworth said he has frustrated the investigation by refusing to turn over information about his customers. Agents seized computers and financial records last month from the home where Arant lives with the property's owner, Martin F. Dugan.
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