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Warriors hype continues to slide to the abyss: the Internal Revenue Service says team owner Chris Cohan owes up to $160 million amid charges of high-scale tax evasion, according to Mark Fainaru-Wada in the San Francisco Chronicle.The IRS says Cohan bought three illegal tax shelters in the late 1990s as he sold his cable company (Sonic Communications) for $200 million. Cohan allegedly used the shelters to skimp out on $95 million of taxes owed. The IRS has since assessed some $66 million in penalties for the alleged abuses. Cohan blames a group of advisers for any and all transgressions, and it so happens that some of those advisers are under criminal investigation for tax fraud in unrelated cases. Hmm.
Fainaru-Wada, you'll remember, was one half of the team that destroyed Barry Bonds both on the pages of The Chronicle and in the book Game of Shadows. If nothing else, the reporter is proving there's a huge place for investigative journalism in professional sports.
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