Fake trust lands 3 in hot water

PHILADELPHIA (AP) - January 28, 2008

The defendants were involved with Commonwealth Trust Co., which prosecutors say persuaded investors to place income and assets into trusts to dodge income taxes.

A federal jury in Philadelphia convicted company co-founder John Michael Crim, John Brownlee, and Constance Taylor on Monday. The charge is conspiring to defraud and corruptly interfering with the Internal Revenue Service. Paul Crim, the son of defendant John Crim, was acquitted.

The three people convicted are ordered held without bail until they're sentenced in May.

Copyright © 2024 WPVI-TV. All Rights Reserved.