tactical trader

Wade Cook, a trading guru known for his options trading seminars, books and tapes, has been charged with eight counts of tax fraud, conspiracy and obstruction of justice. His wife Laura has also been charged, with prosecutors accusing the couple of concealing almost $8.9 million in royalties between 1998 and 2000.

Wade Cook, author of The Wall Street Money Machine, Wealth 101 and Business by the Bible, has run seminars on stock market investing, options trading, asset protection and, perhaps ironically, the avoidance of income tax.

In tax returns filed for 1998, 1999 and 2000, prosecutors claim the couple concealed nearly $8.9 million in royalties from Wade Cook’s books and seminars using a fictitious limited partnership said to be owned by a tax-exempt entity called a charitable remainder trust.

For more information about Wade Cook, along with information on prior fraud charges made against him, I recommend you read Wade Cook Revisited on The Motley Fool.