NC Businessman Gets 32 Months For Stiffing Gov't Out Of $7M+ In Taxes, Then Placing Phony Liens On His Own Properties, Using Bogus Financial Instruments, Nominee & Sham Trusts To Impede, Obstruct IRS Collection Efforts
From the U.S. Department of Justice (Washington, D.C.):
- A Chapel Hill and Durham, North Carolina, millionaire businessman was sentenced to prison yesterday for his involvement in a decades-long scheme to evade paying his federal income taxes, announced Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division and U.S. Attorney Ripley Rand of the Middle District of North Carolina.
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Thomas Tilley, 80, was sentenced [...] to serve 32 months in prison to be followed by one year of supervised release, and ordered to pay $7,676,757 in restitution to the Internal Revenue Service (IRS). At the sentencing hearing, Judge Osteen found that Tilley obstructed justice by providing misleading information to probation and the court after pleading guilty and revoked his acceptance of responsibility credit based on this conduct. Tilley pleaded guilty on Nov. 21, 2014, to one count of corruptly endeavoring to impede and obstruct the administration of the Internal Revenue Code, which carries a statutory maximum sentence of 36 months in prison.
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According to court documents, beginning in 1993 and continuing through at least 2010, Tilley sent the IRS fraudulent financial instruments in an attempt to fraudulently discharge his tax debt; used nominee and sham trusts to purchase and sell real estate to conceal his assets; and placed false liens on properties to impede the IRS’ collection of his tax debt. Tilley also failed to file federal and state income tax returns for tax years 1994 through 2013, despite earning substantial income and, in 2009, claiming a net worth as high as $30 million and annual income of $822,000 on a financial statement.
posted by Home Equity Theft Reporter at 4:00 AM
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