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Showing posts with the label My Icis Inc.

Arkansas Private Banking System Barred from Operating by Federal Court

WASHINGTON - A federal judge in Fayetteville, Ark., has barred Wayne Hicks and his company, My Icis Inc., from operating a private banking system that allegedly helped customers avoid taxes by shielding their identities and other financial transactions from the Internal Revenue Service (IRS), the Justice Department announced today. Hicks and My Icis agreed to the injunction order. Hicks is serving a five-year prison sentence after pleading guilty to conspiracy to defraud the United States. According to the government complaint in the civil injunction case, Hicks owned and operated My Icis, Inc., a Berryville, Ark., company that helped customers set up purportedly anonymous bank accounts to hide their identities, income and other financial transactions, including deposits, wire transfers and bill payments. According to the complaint, Hicks admitted in his criminal case that My Icis helped customers "get out of the traditional banking system and successfully shield their financial...