DENTIST CONVICTED AT TRIAL OF TAX EVASION He transferred assets into a trust after the IRS seized $250,000 in cash, gold bars and coins.

[vc_row][vc_column][vc_column_text]After a three-day trial, an Ohio dentist was convicted of four counts of attempting to evade payment of income taxes for the tax years 2004 to 2012 and 2014 to 2017.

According to court records, Douglas Smith, 68, of Strongsville, Ohio, placed his assets, including a home, into a trust, purchased gold bars and coins, and filed for bankruptcy.

During the trial, evidence was presented that showed Smith had failed to file an income tax return since 1992 and owed more than $490,000 in back taxes and penalties to the IRS.

In January 2012, federal authorities seized approximately $250,000 in cash, gold bars and gold and silver coins from Smith’s home for non-payment of income taxes to satisfy federal tax liens. After the seizure, Smith purported to transfer all his assets, including his  home, to a second trust to defeat collection efforts and avoid foreclosure of his home.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_image image=”1162″][/vc_column][/vc_row]