MOUNTVILLE, Pa. -- In business since 1865 and one of the top 20 convenience store distributors in the country, Cooper-Booth Wholesale Co. LP, a wholesaler in the Mid-Atlantic region, has become collateral damage over an investigation and indictments in the state of New York involving cigarettes it sold to a customer, smuggled into the Empire State and sold without tax stamps. The federal government froze Cooper-Booth's main bank account, which has forced it to declare Chapter 11 bankruptcy on May 21, executives said.
According to the bankruptcy court declaration of Barry Margolis, Mountville, Va.-based Cooper-Booth's president and CEO, Cooper-Booth and its two corporate partners "were experiencing sales growth, were operating profitably and the future was bright and prosperous."
The bankruptcy was not in response to the company's business practices; rather, they were the "victims of unfortunate circumstances."
7 comments:
Why do they keep saying they were un-taxed cigs? They had tax stamps from Va. The tax stamp they needed was from NY. It's more of a tax evasion than untaxed at all.
These folks have a huge lawsuit ready, and it will include their customers cut off from their product! This is HUGE!
So if a person buys cigarettes and transports them across state lines,the seller is held resposible? This is unbelievable.We live in a police state.
Exactly 9:22 this is conditioning and it wouldn't be the first time. Guilty until proven innocent. Not suspected of wrong doing, but we'll freeze your account and attempt to put you out of business. I wonder if the owners are tea party or libertarian? Maybe pro life? Maybe supported Ron Paul? Hmmmm.......
I guess if someone robs a bank we can sue the following: the maker of the gun, the maker of the get away vehicle, the maker of the tires on the get away vehicle, the asphalt company that paved the road of the get away route, the municipality for paving the road, and I'm sure someone can think of many others as well.
Why would you do business with people who have a history of illegal activity ? Go to MD Court Case website and enter "Ramadan". 8 pages of court cases (100+). Unbelievable.
Sorry but turning a blind eye to illegal activity that you profit from is not good buisness. Believe me they had an idea about what was going on. You don't sell that much Tabbaco to some one and have no clue.
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