Redemption movement: Difference between revisions
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The '''redemption theory''' is an [[United States|American]] [[tax evasion]] scheme created by Roger Elvick. The theory holds that when the [[United States government]] abandoned the [[gold standard]] in 1933, it pledged its citizens as [[debt security|security]] in order to borrow the money it needed to function. The government created, from birth, a [[legal fiction|fictitious person]] ("strawman") for each citizen with bank accounts initially holding $630,000. The theory further holds that through obscure procedures under the [[Uniform Commercial Code]], a citizen can "reclaim" the strawman and write checks against its accounts.<ref>[http://www.usdoj.gov/usao/ohn/news/11September2006.html US DOJ News Release 11 September 2006]</ref> |
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Elvick pleaded guilty was pleaded guilty in April 2005 to one count each of [[forgery]], [[extortion]] and corruption in connection with the theory. He was sentenced to four years in an Ohio state prison.<ref>[http://www.splcenter.org/intel/intelreport/article.jsp?aid=544 ''Patriots for Profit''], [[Southern Poverty Law Center]] Intelligence Report, Summer 2005</ref> |
Elvick pleaded guilty was pleaded guilty in April 2005 to one count each of [[forgery]], [[extortion]] and corruption in connection with the theory. He was sentenced to four years in an Ohio state prison.<ref>[http://www.splcenter.org/intel/intelreport/article.jsp?aid=544 ''Patriots for Profit''], [[Southern Poverty Law Center]] Intelligence Report, Summer 2005</ref> |
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Revision as of 05:12, 20 July 2008
The redemption theory is an American tax evasion scheme created by Roger Elvick. The theory holds that when the United States government abandoned the gold standard in 1933, it pledged its citizens as security in order to borrow the money it needed to function. The government created, from birth, a fictitious person ("strawman") for each citizen with bank accounts initially holding $630,000. The theory further holds that through obscure procedures under the Uniform Commercial Code, a citizen can "reclaim" the strawman and write checks against its accounts.[1]
Elvick pleaded guilty was pleaded guilty in April 2005 to one count each of forgery, extortion and corruption in connection with the theory. He was sentenced to four years in an Ohio state prison.[2]
See also
- ^ US DOJ News Release 11 September 2006
- ^ Patriots for Profit, Southern Poverty Law Center Intelligence Report, Summer 2005