A Memphis man has been caught hiding millions from the IRS.
Cedric Zimbalist Chism, the former owner and operator of a security guard service, Memphis Security of Tennessee, Inc. (MSOFT), has pleaded guilty to obstructing the Internal Revenue Service (IRS).
According to the indictment, Chism attempted to impede and evade payment and reporting of employment taxes to the IRS from 1999 through 2011. The tax loss to the IRS is estimated at $854,144.39, with Chism personally and as owner and operator of MSOFT owing a total of $1,688,473.45.
The charge carries a penalty of up to 36 months in federal prison and a fine of $5,000.00.
Chism’s sentencing hearing is set for July 1, 2017.
The case was investigated by the United States Internal Revenue Service. Assistant U.S. Attorney Damon Keith Griffin is prosecuting this case on the government’s behalf.
The guilty plea was announced by Lawrence J. Laurenzi, Acting U.S. Attorney for the Western District of Tennessee.
Defendant:
Cedric Zimbalist Chism
Criminal Charge:
Obstructing the IRS
City and State:
Memphis, TN
Date:
Not specified
Sentence or Outcome:
Guilty plea, up to 36 months in federal prison and a fine of $5,000.00
Dollar Amounts:
$1,688,473.45 owed to the IRS, with a tax loss of $854,144.39
Related Federal Cases
- Cedric Zimbalist Chism, Tax Evasion, Tennessee 2011 · Indiana
- Debra Wyatt, IRS Defraud Scheme, Tennessee 2019 · Tennessee
- Szuhsiung Ho, Unlawful Nuclear Material Production, Tennessee 2017 · Washington
- Lamar Cox, False Statement to FDIC, Tennessee 2009 · Tennessee
- Jeffrey Cephus McCoy Jr, Conspiracy to Defraud the United States in the Collection of Income Taxes, Tennessee 2002 · Florida
Key Facts
- State: Tennessee
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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