A Berryville man pleaded guilty to operating a $100 million alternative banking system that allowed members to shield their financial transactions from the Internal Revenue Service.
Wayne A. Hicks, 52, in a negotiated plea agreement with federal prosecutors, pleaded guilty in Fayetteville to conspiracy to defraud the federal government of income taxes.
According to the U.S. Attorney's Office, the alternative banking system, known as ICIS or MYICIS, was created in 2002 for a group called Americans for Lawful Financial Independence and Information. ICIS is an acronym for several names, including Integral Currency Interchange System, Interactive Currency Interface System or Internet Check Issuance System.
The members were involved in the so-called Patriot Movement and were generally anti-government and did not pay federal taxes. Some schemed to overthrow the federal government, according to prosecutors.
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