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Pharmacist pleads guilty following tax evasion allegations

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Many people are very good at the jobs they do. However, being good at their chosen occupation does not always equate to knowing a great deal about how to run a business. For example, some people in Missouri who own a business may not be fully aware of the ramifications of cashing a check without properly recording it as income, for example. In fact, a pharmacist in another state has recently pleaded guilty after he and his business partners were accused of tax evasion.

The case involves a business owned equally by three business partners. Federal law enforcement officials claim that the trio conspired to hide revenue from the Internal Revenue Service. The alleged crime reportedly occurred from Jan. 2009 to Nov. 2012; it is unclear what prompted officials to investigate the business.

Reports indicate that a 43-year-old man recently pleaded guilty to charges of conspiracy to commit tax evasion. The three business partners reportedly cashed checks related to the business, Old Bridge Drugs & Surgical, but deposited only a portion of the money into bank accounts connected to the company. The three would reportedly divide up the remaining cash among them. In total, over $9 million was allegedly hidden from the IRS, resulting in over $4 million in lost taxes.

As a result of the man’s guilty plea in the tax evasion case, he could spend five years in prison and face a significant fine; he is set to be sentenced this summer. The two other business owners previously pleaded guilty to charges related to the alleged tax crimes. Often, such allegations are complex, and those charged may be confused about their options. In some cases, defendants in Missouri will choose to plead guilty if they believe that there is sufficient evidence to convict them.

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