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UTAH ATTORNEY CONVICTED IN $20 MILLION TAX EVASION
February 18, 2008
Dennis B. Evanson appears to have gotten a bit carried away in trying to reduce his clients taxes. The Utah attorney was convicted last week of helping 70 taxpayers evade over $20 million in federal income taxes. Based on the the charges, Mr. Evanson ran a full-service shop, providing a variety of offshore scams to evade taxes and the tax returns to go with them. From the indictment:
The various methods used and proomoted by the DEFENDANTS to carry out the scheme shared certain common characteristics. Each method used fictitious transactions to move clientss' untaxed income into offshore entities and returned those funds to the clients predominantly under the pretense of loans.
Four co-defendants pleaded guilty, and one was acquitted.
A $20 million-plus tax loss, enhanced for use of "sophisticated means," earns a sentence of from 97 to 121 months under the federal sentencing guidelines. Sentencing is set for May 13.
The moral? Any scheme that reduces taxes through bogus offshore transactions is bad news.
Links:
Justice Department Press Release
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