Did you Participate in a 419 or 412i Benefit Plan?
Lance Wallach is the nation's foremost expert on 419 plans, 412i plans, listed transactions, reportable transactions, Section 79 plans, captive Insurance plans
Ramesh Sarva Veba Defendant Ramesh Sarva is a CPA who has been steering his customers toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operate and administer. Benistar
SARVA Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketing Sea Nine's VEBA plans to customers across the United States for nearly 30 years- even before Elliot became involved- and continues to do this today. Posted by Lance Wallach at 1/07/2014 04:30:00 PM 6 comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest
Labels: Kae Consulting, Kenneth Elliot, Ramesh Sarva, Sarva, Sea Nine Veba, Vista Barranca Sarva- More You Should Know Sarva has similarly made numerous false statements to his customers about the Sea Nine VEBA plans despite his notice that they are not compliant with Section 419A(f)(6). He touts his many years of work with Sea Nine VEBA plans to potential customers reassuring them that the plans are completely legal. He provides potential plan participants with materials (such as the legal opinions by Elliot and Sea Nine) indicating that after 2004 the Sea Nine plans were not in conformity with the relevant provisions of the Tax Code. And he has promoted the concept that participation in the Sea Nine VEBA plans permits underscoring the cash value nature of the universal or whole life policies that the plans purchase for their participants, even though (noted above) a VEBA plan that operates in this fashion evidences experience rating. Posted by Lance Wallach at 1/07/2014 02:05:00 PM 5 comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest
Ramesh Sarva Veba Defendant Ramesh Sarva is a CPA who has been steering his customers toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operate and administer. Benistar
SARVA Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketing Sea Nine's VEBA plans to customers across the United States for nearly 30 years- even before Elliot became involved- and continues to do this today. Posted by Lance Wallach at 1/07/2014 04:30:00 PM 6 comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest
Labels: Kae Consulting, Kenneth Elliot, Ramesh Sarva, Sarva, Sea Nine Veba, Vista Barranca Sarva- More You Should Know Sarva has similarly made numerous false statements to his customers about the Sea Nine VEBA plans despite his notice that they are not compliant with Section 419A(f)(6). He touts his many years of work with Sea Nine VEBA plans to potential customers reassuring them that the plans are completely legal. He provides potential plan participants with materials (such as the legal opinions by Elliot and Sea Nine) indicating that after 2004 the Sea Nine plans were not in conformity with the relevant provisions of the Tax Code. And he has promoted the concept that participation in the Sea Nine VEBA plans permits underscoring the cash value nature of the universal or whole life policies that the plans purchase for their participants, even though (noted above) a VEBA plan that operates in this fashion evidences experience rating. Posted by Lance Wallach at 1/07/2014 02:05:00 PM 5 comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest
RAMESH SARVA: IRS Clarifies Legality of 419(e) Plans RAMESH SARVA: IRS Clarifies Legality of 419(e) Plans Posted by Lance Wallach at 3/27/2015 06:52:00 AM Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest
Lance WallachMarch 27, 2015 at 6:52 AM RAMESH SARVA Defendant Ramesh Sarva is a CPA who has been steering his customer toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operateand administer. Benistar
Tuesday, January 6, 2015 2 Complaints and reviews for '419 Plan' from real people @ Pissed Consumer
United States Attorney 'S'P Federal Building, Room 7211 <.} .... ~ 7 300 North Los Angeles Street Los Angeles, California 90012 8 Tel: (213) 894-2740; Fax: (213) 894-0115 9 Email: darwin.thomas@usdoj.gov BRIAN H. CORCORAN (DC Bar No. 456976) 10 Trial Attorney, Tax Division 11 U.S. Department of Justice Post Office Box 7238 12 Washington, D.C. 20044 13 Tel: (202) 353-7421; Fax (202) 514-6770 14 Email: Brian.H.Corcoran@usdoj .gov 15 Attorneys for the United States of America 16 17 18 19 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA WESTERN DIVISION 20 United States of America, 21 ' 22 Plaintiff, vs. COMPLAINT FOR PERMANENT INJUNCTION AND OTHER RELIEF 23 Kenneth Elliott d/b/a KAE Insurance Service~ Inc., Vista Barranca, Inc., 24 and KA~ Consulting· Sea Nine Associates, Inc., and Ramesh Sarva, 25 26 27 28 Defendants. _______________
NC., § § Plaintiffs, § § v. § CIVIL ACTION NO. 3:13-CV-4491-B § SEA NINE ASSOCIATES, INC., et al., § § Defendants. § MEMORANDUM OPINION AND ORDER Before the Court is Plaintiffs’ Motion to Remand (doc. 14), filed December 6, 2013. For the reasons stated below, the Court finds that the Motion should be, and hereby is, GRANTED. I. BACKGROUND This case arises out of fraudulent representations that Defendants allegedly made in order to induce Plaintiffs to invest in employee benefit plans that ultimately did not possess the tax-exempt qualities that Plaintiffs insist they were promised. Plaintiffs are Naren and Ilakamuri Patel, who 1 reside in New York state, and MVP Consulting Plus, Inc., a New York corporation with its principal place of business in Albany, New York. Doc. 1-3, Orig. Pet. Ex. C ¶¶ 4.01-4.02. Defendants are Prudential Insurance Company (“Prudential”), Comerica Bank (“Comerica”), Sea Nine Associates, Inc. (“Sea Nine”), Kenneth Elliot, Ramesh Sarva, Ramesh Sarva, CPA, P.C., Gaurang Parikh, and The Court draws the relevant background facts from the Plaintiffs’ Original Petition, filed in state 1 court. Doc. 1-3, Orig. Pet. Ex. C.
Ramesh Sarva Veba
ReplyDeleteDefendant Ramesh Sarva is a CPA who has been steering his customers toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operate and administer. Benistar
SARVA
Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketing Sea Nine's VEBA plans to customers across the United States for nearly 30 years- even before Elliot became involved- and continues to do this today.
Posted by Lance Wallach at 1/07/2014 04:30:00 PM 6 comments:
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Labels: Kae Consulting, Kenneth Elliot, Ramesh Sarva, Sarva, Sea Nine Veba, Vista Barranca
Sarva- More You Should Know
Sarva has similarly made numerous false statements to his customers about the Sea Nine VEBA plans despite his notice that they are not compliant with Section 419A(f)(6). He touts his many years of work with Sea Nine VEBA plans to potential customers reassuring them that the plans are completely legal. He provides potential plan participants with materials (such as the legal opinions by Elliot and Sea Nine) indicating that after 2004 the Sea Nine plans were not in conformity with the relevant provisions of the Tax Code. And he has promoted the concept that participation in the Sea Nine VEBA plans permits underscoring the cash value nature of the universal or whole life policies that the plans purchase for their participants, even though (noted above) a VEBA plan that operates in this fashion evidences experience rating.
Posted by Lance Wallach at 1/07/2014 02:05:00 PM 5 comments:
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Ramesh Sarva Veba
ReplyDeleteDefendant Ramesh Sarva is a CPA who has been steering his customers toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operate and administer. Benistar
SARVA
Defendants have also directly and indirectly promoted the VEBA plan scheme to prospective participants. Sarva for his part has been marketing Sea Nine's VEBA plans to customers across the United States for nearly 30 years- even before Elliot became involved- and continues to do this today.
Posted by Lance Wallach at 1/07/2014 04:30:00 PM 6 comments:
Email This
BlogThis!
Share to Twitter
Share to Facebook
Share to Pinterest
Labels: Kae Consulting, Kenneth Elliot, Ramesh Sarva, Sarva, Sea Nine Veba, Vista Barranca
Sarva- More You Should Know
Sarva has similarly made numerous false statements to his customers about the Sea Nine VEBA plans despite his notice that they are not compliant with Section 419A(f)(6). He touts his many years of work with Sea Nine VEBA plans to potential customers reassuring them that the plans are completely legal. He provides potential plan participants with materials (such as the legal opinions by Elliot and Sea Nine) indicating that after 2004 the Sea Nine plans were not in conformity with the relevant provisions of the Tax Code. And he has promoted the concept that participation in the Sea Nine VEBA plans permits underscoring the cash value nature of the universal or whole life policies that the plans purchase for their participants, even though (noted above) a VEBA plan that operates in this fashion evidences experience rating.
Posted by Lance Wallach at 1/07/2014 02:05:00 PM 5 comments:
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ReplyDeleteRAMESH SARVA: IRS Clarifies Legality of 419(e) Plans
RAMESH SARVA: IRS Clarifies Legality of 419(e) Plans
Posted by Lance Wallach at 3/27/2015 06:52:00 AM
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Labels: 412i, 412i Plans, 419, 419 Plans, Lance Wallach, Lance Wallach Expert Witness, Retirement Plans, tax penalties, Welfare Benefit Plans
2 comments:
Lance WallachMarch 27, 2015 at 6:52 AM
RAMESH SARVA
Defendant Ramesh Sarva is a CPA who has been steering his customer toward VEBA plans for over 20 years- and in particular, toward Sea Nine-administered VEBA plans. He promotes the plans' false benefits while also rebroadcasting the false statements that Elliot and Sea Nine make about the plans they operateand administer. Benistar
Tuesday, January 6, 2015
2 Complaints and reviews for '419 Plan' from real people @ Pissed Consumer
ReplyDelete
Ramesh Sarva Veba: 6707A Penalties & 419 Plans Litigation
ReplyDeleteUnited States Attorney
ReplyDelete'S'P Federal Building, Room 7211 <.} .... ~ 7 300 North Los Angeles Street
Los Angeles, California 90012
8 Tel: (213) 894-2740; Fax: (213) 894-0115
9 Email: darwin.thomas@usdoj.gov
BRIAN H. CORCORAN (DC Bar No. 456976)
10 Trial Attorney, Tax Division
11 U.S. Department of Justice
Post Office Box 7238
12 Washington, D.C. 20044
13 Tel: (202) 353-7421; Fax (202) 514-6770
14 Email: Brian.H.Corcoran@usdoj .gov
15 Attorneys for the United States of America
16
17
18
19
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION
20 United States of America,
21
' 22
Plaintiff,
vs.
COMPLAINT FOR PERMANENT
INJUNCTION AND OTHER
RELIEF
23 Kenneth Elliott d/b/a KAE Insurance Service~ Inc., Vista Barranca, Inc.,
24 and KA~ Consulting· Sea Nine
Associates, Inc., and Ramesh Sarva,
25
26
27
28
Defendants. _______________
NC., §
ReplyDelete§
Plaintiffs, §
§
v. § CIVIL ACTION NO. 3:13-CV-4491-B
§
SEA NINE ASSOCIATES, INC., et al., §
§
Defendants. §
MEMORANDUM OPINION AND ORDER
Before the Court is Plaintiffs’ Motion to Remand (doc. 14), filed December 6, 2013. For the
reasons stated below, the Court finds that the Motion should be, and hereby is, GRANTED.
I.
BACKGROUND
This case arises out of fraudulent representations that Defendants allegedly made in order
to induce Plaintiffs to invest in employee benefit plans that ultimately did not possess the tax-exempt
qualities that Plaintiffs insist they were promised. Plaintiffs are Naren and Ilakamuri Patel, who 1
reside in New York state, and MVP Consulting Plus, Inc., a New York corporation with its principal
place of business in Albany, New York. Doc. 1-3, Orig. Pet. Ex. C ¶¶ 4.01-4.02. Defendants are
Prudential Insurance Company (“Prudential”), Comerica Bank (“Comerica”), Sea Nine Associates,
Inc. (“Sea Nine”), Kenneth Elliot, Ramesh Sarva, Ramesh Sarva, CPA, P.C., Gaurang Parikh, and
The Court draws the relevant background facts from the Plaintiffs’ Original Petition, filed in state 1
court. Doc. 1-3, Orig. Pet. Ex. C.