Americas Watchdog Accuses National and Regional U.S. Homebuilders of Massive Tax Fraud and Says No Way to a Federal Bailout

For over four years Americas Watchdog & its Corporate Whistle Blower Center have been investigating national & regional residential homebuilders for using undocumented workers to build the vast majority of all US homes or low rise condominiums from 2001-2007. Why would the homebuilders do this? According to Americas Watchdog, "Most regional or national homebuilders used undocumented workers because, they would work for half of what a US Citizen would work for, they would never complain about being required to work over time, and the homebuilders typically never paid taxes, nor did the undocumented workers." Now the US homebuilding industry wants a federal bail out? According to Americas Watchdog, "If Nancy Pelosi & her colleagues in Congress, along with President Obama want to give national or regional homebuilders a bailout, lets first have a discussion about the $100 billion-plus owed by these very same homebuilders."

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Americas Watchdog Accuses National and Regional U.S. Homebuilders of Massive Tax Fraud and Says No Way to a Federal Bailout

Americas Watchdog & Its Corporate Whistle Blower Center are requesting IRS tax audits on the majority of the top 100 US residential homebuilders over the issue of massive Federal Tax Fraud. For five years the group has been pointing to the fact that the majority of US residential homebuilders used undocumented workers, typically Mexican nationals, to build most new residential homes or low rise condominiums from 2002-2007. How did this work? Big national, or regional homebuilders would hire crews of Mexican workers to build the homes, classify the undocumented workers as 1099 sub-contractors & no one paid any state, or federal taxes. According to the Wall Street Fraud Watchdog, "this was a clever scheme on the part of major national & regional homebuilders to avoid federal & state taxes, in order to make more money." There is even a bigger problem: According to the group, "many to most of these homes have serious construction defects, because the construction workers could not read or write English. Now the Obama Administration, and a bought and paid for Congress wants to bail out homebuilders? Lets let the taxpayers decide. We can prove everything." Media inquiries or potential whistle blowers can contact the Wall Street Fraud Watchdog at 866-714-6466 or contact them via their web site at Http://WallStreetFraudWatchdog.com.

(PRWEB) February 9, 2009 -- For over four years Americas Watchdog & its Corporate Whistle Blower Center have been investigating national & regional residential homebuilders for using undocumented workers to build the vast majority of all US homes or low rise condominiums from 2001-2007. Why would the homebuilders do this? According to Americas Watchdog, "Most regional or national homebuilders used undocumented workers because, they would work for half of what a US Citizen would work for, they would never complain about being required to work over time, and the homebuilders typically never paid taxes, nor did the undocumented workers." Now the US homebuilding industry wants a federal bail out? According to Americas Watchdog, "If Nancy Pelosi & her colleagues in Congress, along with President Obama want to give national or regional homebuilders a bailout, lets first have a discussion about the $100 billion-plus owed by these very same homebuilders."

* So How Did The Homebuilder Undocumented Worker Tax Scam Work? Example: During the US real estate boom years from 2002 to 2006, regional or national homebuilders would use their regular sub contractors to hire groups of undocumented subcontractors, through labor brokers called coyotes, who would then organize crews of undocumented workers, who would frame, dry wall, roof, paint, and landscape homes in sub divisions or low rise condominiums.

The labor coyote would have the undocumented worker sign a sub contractor-1099 agreement. No one paid any taxes. The national or regional homebuilders, would give instruction to the various undocumented workers on the job site & or require the workers to continue work after 8 hours, or a 40 hour work week. This is also called a FSLA violation. But no one complained. Who was the undocumented Mexican or Central American worker going to complain to?

* Note to residential construction superintendents or project managers: The IRS offers a significant reward for individuals with specific information about tax fraud. According to Americas Watchdog," you superintendents, or project managers saw this happen, and many, to most of you have the 1099 sub contractor agreements, between the homebuilder, or their real sub-contractor & the typically Mexican National's, who were framing, dry walling, roofing, plumbing, painting or landscaping on your site. We will help you present this information though some of the most capable law firms in the nation to the IRS, for a possible significant reward." For more information contact Americas Watchdog at 866-714-6466 or contact them via their Wall Street Fraud Watchdog web site, at http://WallStreetFraudWatchdog.com

* Note To The Big Business Law Firms That Drew Up The 1099 Sub Contractor Agreements For The National Or Regional Homebuilder's undocumented workers: "How is what you did not aiding and abetting federal tax fraud? We are talking about over 1 million Mexican nationals, for each of the tax years from 2002-2006. Where were your ethics & was it always just about making a buck?"

* So How Does The Taxpayer Benefit From A Congressional/White House Bailout Of Homebuilders? According to Americas Watchdog, "So what does a Congressional bailout of US homebuilders do for tax payers? Zero. Are US taxpayers suppose to pay the undocumented contruction workers $100 billion tax fraud bill for the big national or regional US homebuilders? How stupid would that be?" The group says, "to add insult to injury, in many ways US homebuilders made this economic disaster possible, by over inflating the value of the homes, they sold to millions of unsuspecting US consumers, with the full cooperation of the US banking sector, the mortgage banking sector & the investment banking sector."

The US taxpayers are on the verge of a bailout revolt & Americas Watchdog intends to prove that rather than bailing out homebuilders, greedy investment bankers,or US banks, there needs to be indictments, for the most massive case of integrated fraud in US history. This is a multi-trillion dollar train wreck that could,and should have been avoided.

Aside from the undocumented residential construction workers, the shareholders of the most of the largest US homebuilders have also been defrauded by their homebuilder stock CEO's, CFO's and company executives. Americas Watchdog says, "There is no way these corporate executives did not know. We will work with law firms that specialize in shareholder lawsuits to prove this point. We will also work with wage & hour law firms, along with construction defect law firms. All this, in order to try to get some releif for the taxpayer, the shareholder, and last but not least, the consumer, for what could be litterally millions of defective US homes, built between 2002-2006."

Media or whistle blower inquiries should contact Americas Watchdog at 866-714-6466 or contact them via their web site at http://WallStreetFraudWatchdog.com

Americas Watchdog & its Wall Street Fraud Watchdog are all about consumer & taxpayer protection & corporate responsibility.

http://www.prweb.com/releases/2009/02/prweb1967474.htm