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Florida Businessman Busted for $93M Tax Dodge
A high-stakes tax evasion scheme has landed a Florida businessman behind bars, with authorities alleging he hid a whopping $93 million in offshore accounts.
Mark Anthony Gyetvay, a former certified public accountant and CFO of a large Russian gas company, is facing a slew of charges, including wire fraud, tax evasion, and willful failure to file tax returns. According to a federal indictment, Gyetvay allegedly concealed his ownership and control over the offshore assets, which at one point had an aggregate value of over $93 million.
The scheme, which spanned from 2005 to 2016, saw Gyetvay allegedly opening two Swiss bank accounts to hold the assets. He then took steps to conceal his ownership, removing himself as the beneficial owner and replacing it with his then-wife, a Russian citizen. Despite being a CPA, Gyetvay allegedly failed to timely file his U.S. tax returns and failed to file all required Reports of Foreign Bank and Financial Accounts (FBARs) forms.
The indictment also alleges that Gyetvay submitted a false offshore compliance filing with the IRS through the Streamlined Filing Compliance Procedures, attesting that his prior failure to file FBARs and tax returns was non-willful.
Gyetvay is scheduled for his initial court appearance before U.S. Magistrate Judge Douglas Frazier of the U.S. District Court for the Middle District of Florida. If convicted, he faces up to 20 years in prison for each wire fraud count, five years for each failure to file FBAR count, five years for tax evasion, five years for making a false statement, three years for each count of assisting in the preparation of a false tax return, and one year for each willful failure to file a tax return count.
The case was assigned to U.S. District Judge John L. Badalamenti, who will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice’s Tax Division made the announcement, with IRS Criminal Investigation leading the probe. Senior Litigation Counsel Stanley Okula and Trial Attorneys David Zisserson and Kevin Schneider of the Tax Division are prosecuting the case.
An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. Gyetvay’s fate will be decided in the courts, but one thing is clear: his actions have caught the attention of the authorities, and he’s facing serious consequences for his alleged crimes.
Key Facts
- State: Florida
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release â†â€â€
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