A Houston-based tax attorney is charged with conspiring with the Chairman and CEO of a private equity firm to defraud the IRS.
From 1999 to 2014, the tax attorney helped the CEO to create and maintain offshore entities and foreign bank accounts that were used to conceal approximately $225 million of capital gains income. For years 2012-2014, the tax attorney help prepare the CEO’s tax returns, which failed to fully report the CEO’s income to the IRS. The indictment alleges that since 2007 the CEO paid the tax attorney more than $1,000,000 for his services.
If convicted, the tax attorney faces over 8 years in prison for all the charges, in addition to monetary restitution and fines.