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Thread: Strip club owner found with $12M cash gets prison

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    Default Strip club owner found with $12M cash gets prison

    http://www.washingtonpost.com/wp-dyn...020503464.html

    Strip club owner found with $12M cash gets prison


    The Associated Press
    Saturday, February 5, 2011; 6:06 PM

    CHICAGO -- A prominent Chicago-area strip club owner found with $12 million in cash has been sentenced to a year in prison for tax crimes.
    A tearful Michael Wellek of Libertyville told a federal judge Friday that he took full responsibility for his actions. He'd faced a maximum sentence of six years.
    Internal Revenue Service agents raided a warehouse near one club in 2003 and confiscated $12 million in cash stuffed in bags and boxes. Wellek argued in a 2004 lawsuit that he was holding the cash until he could count it.
    The 63-year-old Wellek pleaded guilty in November to failing to file a tax return for 2000 and to obstructing the IRS. Prosecutors have said he didn't pay personal income taxes for several years while his clubs apparently generated hefty profits.
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    Member Mikeking's Avatar
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    Default Re: Strip club owner found with $12M cash gets prison

    That's crazy I wish I could make that kind of money.Sure would not mind sharing some of it with Uncle Sam either.

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    Default Re: Strip club owner found with $12M cash gets prison

    They should go after my old club owner...while it may not be as much as $12 mil, I guarantee he's got serious money stashed somewhere...they raided our club more than once and confiscated every cent on the property for back taxes. He used to just take the money out of the safe before it was even counted at night, and leave with it...the manager didn't even know for sure if the place was making a profit. They made everyone cash their paychecks at the club before leaving, because the accounts were always empty.

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    Default Re: Strip club owner found with $12M cash gets prison

    Gotta love a cash business

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    Default Re: Strip club owner found with $12M cash gets prison

    I'm glad he got it. He's treated dancers at his clubs terrible by basically violating many laws so he got what he deserved. Charging ridiculous amounts of money, fining for everything, rules for everything, hiring way too many dancers, etc. Nope don't feel sorry for him.

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    Default Re: Strip club owner found with $12M cash gets prison

    ^6 yrs. doesn't seem like a long time, considering he'll prob. serve like what, 3? I'd do it for that kind of $..not much of a punishment


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