True, most taxpayers won't be criminally charged for investing in a sham trust.

FORBES: If It Sounds Too Good...

But now, it seems, the sham trust business has gone up-market and mainstream.

FORBES: If It Sounds Too Good...

He says that the IRS summarily denies even clearly legitimate deductions associated with any businesses placed in a sham trust.

FORBES: If It Sounds Too Good...

"MLB orchestrated a sham process that not only mistreated Doubleday and betrayed his trust, it actively favored Wilpon and engineered a result that served MLB's other and conflicting interests, " Doubleday said in the lawsuit.

FORBES: Magazine Article

In some deals the seller of the property effectively controlled the trust he sold to--a setup the IRS has successfully challenged as a sham.

FORBES: Deferral Games

Some years ago the Tax Court ruled that a private annuity trust, set up by the aforementioned David Orr with the help of Nafep, was a sham.

FORBES: Magazine Article