Denmark's tax agency seeks to recover $41 million in supposedly deceptive tax refunds paid to a number of Main Kentucky-based pension plans and their representatives.Another accused is Bernard Tew, 66, a previous financial investment supervisor in Versailles for a number of pension plans.A 2015 approval judgment released by a federal judge in Lexington prohibited Tew and Hofmeister from functioning as pension strategy fiduciaries or provider. That judgment came just a few weeks prior to the Danish tax firm found out that a big network of business abroad had abused the system.Telephone. numbers for Tew and Hofmeister have actually been disconnected and they could not be instantly reached for comment.On. Thursday the Customs and Tax Administration of the Kingdom of Denmark, likewise called SKAT, filed 15 lawsuits in federal court in Lexington. Each suit includes a different quantity sought for recovery. The total looked for in the 15 suits is $41,054,000. The tax authority states the accuseds claimed to own shares in Danish companies and sent claims for refunds of dividend
taxes.Danish business are required to keep a 27 percent tax on dividends. That levy is refundable on dividends paid by Danish companies to U.S. pension plans, which are exempt from taxation, according to a treaty between Denmark and the United States.The Danish tax authority says that in August 2015 it found it had actually paid dividend tax refunds to immigrants on shares they never ever held."The plaintiffs did not own the shares that they claimed to own, they did not make the dividends they claimed to have actually earned, and they were not entitled to the tax refunds they claimed,"the fits say.The tax authority says it was incorrectly forced to pay out more than$2 billion to agents representing 277 pension in the United States and others in the UK, Canada, Malaysia and Luxembourg.Among the Central Kentucky offenders sued are SRH Farms LLC 401(K)Strategy of Versailles; Bluegrass Investment Management LLC, a Versailles business that was dissolved in 2015; MGH Farms LLC, a Lexington business that was liquified in 2014; Triton Farms 401(K( )Plan of Paris; Tew Enterprises LLC Retirement Plan of Versailles; and SV Holdings LLC Retirement Plan of Versailles. Numerous other pension were also named.Hofmeister, a former Bourbon County local who now lives in Florida, is arranged to report to prison on June 28 to serve his 41-month sentence.Hofmeister when survived on a$ 14 million home in Bourbon County, and his farm there purchased the breeding rights to Real Quiet before the horse won the 1998 Kentucky Derby.
Real Quiet also won the 1998 Preakness Stakes. The horse passed away in 2010. The 2015 authorization judgment required Hofmeister and Tew to repay $299,166 to a pension