The criminal trial for the man who ripped off my parents and countless others was found guilty on 23 counts today in Richmond. He’s facing a max of 400 years in prison. Unfortunately, this doesn’t really mean they are any closer to getting any of their money back. But at least this crook is going to jail for a very long time and won’t be able steal from any more people. Now there needs to be IRS reform to make sure the 1031 intermediaries are regulated and money is protected. The IRS is ultimately to blame for allowing this to happen. Okun exploited the fact that intermediaries are unregulated but the IRS has YET to change the laws. Minor changes could protect everyone and prevent this from ever happening again.
ONE OF THE JURORS SPEAKS OUT:
Article including video of Edward Okun’s $200K wedding: