A former Independence financial adviser was sentenced to prison for his role in a widespread tax shelter scheme. Getty Images
CLEVELAND, Ohio — A well-known Independence financial adviser who ran what prosecutors called a “massive” tax-shelter scheme for wealthy clients was sentenced Tuesday to more than a year in federal prison.
Rao Garuda, 81, authored books and gave speeches around the country while helping hide his clients’ money from the IRS by lying on tax forms that said his clients donated to charity when they actually put money into an account they could access.
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