Front Men

"Can't Touch This."  MC Hammer

 

So how can all this happen and the CEO and President not get caught?

Very easy.  They don't have assets that you can see.  Max Stevens and Mark Bruce have no listed assets.

Max withdrew money from the company often made out to "Cash".  He rents a large place in Chicago and a vacation home in Michigan.  All of his transactions are done with company checks.  Even with a withdraw of $25,000 and checks to car companies, insurance, hotels, travel, food, utilities, he still showed only $400 on his federal tax return.  The guy even receives aid due to his low income!

Mark runs the assets through his wife.  Everything is in her name.  Take a look again at the stock note sent to New Jersey.  It has both his name and his wife's name.  All company stock was issued in both their names. All the assets are in his wife's name.  Mark issued Promissory notes to his own wife for $30,000 and $40,000 two weeks later.  No where on the notes does it say why.  In one situation, Mark even sold the assets of the company to his wife for significantly below what they were listed on the books.  Then he had a new company lease the assets from her.  Just ahead of the original business going bankrupt.

 

Both of them have been in court.  Both sit there and plead; "I have no money or assets".  Then, they go back to their homes.

 

 

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