Immigrant Lee Ang is living the American dream, having become a successful stock trader in the U.S.A. and making millions since the 1990s. Unfortunately, he never became a legal citizen, and now the IRS is charging him with $22 million in back taxes. Yet the government still hasn’t begun the deportation process.
Earlier this year a federal tax court ruled that Lee Ang had skipped out on paying taxes between 1998 and 2001 and now owes the $22 million in back taxes, interest, and fines.
Ang came to the U.S. in the 1990s through Belize, where he gained citizenship after emigrating there from Singapore, the land of his birth. He came here to go to school and attended New York University.
The immigrant initially followed our immigration laws, gaining a B-1 tourist visa, then having that transferred to an HB-1 visa and subsequently parlaying all that to a green card. However, after he graduated from college and began to succeed as a stock trader, he apparently decided that being a legal citizen would cost him too much in taxes and let his green card status lapse.
Even as his legal status passed, he didn’t go back to Belize or Singapore. He stayed in the U.S., pursuing his stock trading, beginning from an $11,000 loan from his relatives in Singapore.