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Friday, March 3, 2006 - Page updated at 02:51 PM

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Stock guru Wade Cook to go on trial next January

Seattle Times business reporter Seattle Times business reporter

Former stock-trading guru Wade Cook and his wife, Laura, will go on trial on charges of tax evasion and next January federal judge Thomas Zilly ruled today.

In setting the trial for Jan. 15, 2007, Zilly said he expects it to last four to six weeks.

The Cooks were charged in December with eight counts of tax evasion, filing false income-tax returns and obstructing the federal investigation into their financial affairs.

They are accused of not paying taxes on more than $8.9 million in royalties in 1998, 1999 and 2000. The money came from sales of books, tapes and CDs featuring Cook's controversial investment strategies.

The various charges carry maximum penalties of three to 15 years in prison and fines of $100,000 to $1 million per count.

The government had asked Zilly to set the trial date for June or July, arguing that there was little dispute about the underlying facts and that the main issue was the Cooks' intent.

But Angelo Calfo, Cook's attorney, strongly disagreed. "I promise you, your honor, there's going to be a dispute about most of the major contentions the government is going to present," he told Zilly during Friday's hearing.

Indicating that he intends to mount a vigorous defense, and citing several other cases he's involved with, Calfo requested a May 2007 trial date.

Copyright © 2006 The Seattle Times Company


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