Racehorse Breeding Tax Shelter Operators Plead Guilty

Federal authorities say three men have pleaded guilty to conspiracy charges in a scheme that allowed wealthy people to get tax benefits from investments in Thoroughbred horse breeding.

The U.S. attorney's office for Oregon said Monday the scheme cost the federal government $200 million in tax revenue.

Acting U.S. Attorney Kent Robinson says the scheme was nationwide.

The government identified the three men as David Plummer; his son, Spencer Plummer; and an accountant, Terry Green.

The government says the operation known as ClassicStar was based in Utah, where Spencer Plummer and Terry Green lived. David Plummer was identified in court documents as a Texan.

No sentencing date was set.

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The Associated Press


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