Adam C. Shryock, the 37-year-old founder of ‘Boobies Rock Awareness for Breast Cancer’, has pleaded guilty to willful failure to file a tax return in Denver federal court. The charges stem from Shryock’s role as the sole owner and operator of ‘Boobies Rock!’, a for-profit business that ran promotional events selling breast cancer awareness merchandise across the country.
Between April 2011 and June 2013, ‘Boobies Rock!’ organized over 3,600 to 4,500 events, selling t-shirts, hoodies, koozies, and bracelets. The campaign raised significant funds, with Shryock instructing that proceeds be deposited into his personal bank accounts or sent to his residence in Castle Rock, Colorado.
Over 2,200 cash deposits totaling more than $1.8 million were made into these accounts during the investigation period. Shryock admitted using a portion of these funds for his own lifestyle, leading to an IRS debt of $430,970 based on unreported income. He now faces up to one year in federal prison and a fine of $100,000 per count.
According to U.S. District Court Magistrate Judge Michael J. Watanabe, who will sentence Shryock on June 27, 2017, the investigation was spearheaded by IRS-Criminal Investigation with prosecution led by Assistant United States Attorney Martha Paluch.
This case underscores the serious consequences of tax evasion and serves as a stark reminder to charitable campaign organizers about their financial obligations.
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Key Facts
- State: Colorado
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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