Man convicted in US for hiding cash in Nevis account

 

The US Government charged that the US citizen, whom they identified as Duane Ross of Lehi, Utah, but who is originally from Sevierville, Tennessee, was convicted of five counts of tax evasion following a jury trial in the US District Court for the Eastern District of Tennessee.

 

The reports indicate that the indictment and evidence produced at trial, showed that Ross won a monetary award of about US$840,000 in 1999 after arbitration of an employment dispute with a former employer.

 

The Justice Department said Ross failed to pay the full amount of his income tax due and owing for 1999 and “evaded the tax by filing a false mortgage on his residence, filing a false lien on his vehicle, dealing extensively in cash and directing funds” to the offshore account in Nevis.

 

They also claimed that from 2004 through 2007, Ross “earned commission income for referring clients to a purported Nevis-based investment company and evaded his taxes by using nominees and other means.”

 

Following the jury verdict, US District Judge R. Leon Jordan ordered that Ross be detained and scheduled the sentencing for January 14, 2014.

 

On each of the five counts of conviction, the Justice Department said Ross faces a maximum sentence of five years in prison and a maximum fine of US$250,000.


 

 

 

 

 

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