PHILIPPINE — Following allegations that he assisted in concealing sixty million dollars in revenue from the Internal Revenue Service, a man from Arizona recently entered a guilty plea to the charge of making false tax returns following the allegations.
According to the United States Department of Justice, Kent Ellsworth entered a guilty plea to two charges of helping in the preparation of false tax returns for persons who utilized an “abusive-trust tax shelter” to conceal their income. The plea was entered last week.
There are almost 500 fictitious tax returns that Ellsworth is suspected of filing for dozens of different clients. According to the Department of Justice, the scam allegedly entailed transferring a client’s income to a phony trust or a “private family foundation,” which was utilized as bank accounts for the revenue as it was being transferred.
This strategy led to a tax loss that was around seventeen million dollars.
In addition to a fine of $250,000, Ellsworth faces the possibility of serving up to three years in prison for each offense. It is anticipated that he will be sentenced on August 14th.
