Robert J. Fedor, Esq., L.L.C.

Alleged mastermind behind tax evasion scheme faces fines and prison

Most Ohio residents would love to pay less in taxes and somehow profit from a quick get-rich scheme. The problem, however, is that neither can typically be accomplished without engaging in questionable or illegal activities. Allegations of and criminal charges related to tax evasion are serious. An individual who is facing tax evasion charges would therefore be wise to retain a criminal defense attorney who has successfully defended clients facing similar charges.

A 58-year-old man was recently indicted on tax evasion charges for his alleged role in orchestrating and carrying out a complex tax evasion and embezzlement scheme. According to the Federal Bureau of Investigation, the man was employed as an accountant and hired by a popular restaurant chain to manage and take care of the company's financial and tax matters.

According to the FBI, the man was the mastermind behind an elaborate plan to avoid paying taxes. The man allegedly proposed the plan to the principals at the restaurant-chain as well as to his client's business associates. All involved parties are said to have participated in illegal financial activities to avoid paying both employment and personal taxes.

In total, the IRS claims that profits garnered from the tax evasion scheme totaled more than $15 million. The FBI is also involved in the investigation of other alleged illegal and fraudulent activities carried out by the man through which he obtained millions of dollars in bank loans using false financial information.

All parities believed to have been involved in the tax evasion scheme currently face serious criminal charges. If convicted, the 58-year-old alleged mastermind could face fines totaling as much as $2.75 million as well as a federal prison sentence of up to 57 years.

Source: FBI.gov, "Nifty Fifty's Accountant Indicted in Tax Fraud Scheme," May 16, 2014

No Comments

Leave a comment
Comment Information