Jack Stephen Pursley, Tax Evasion, Texas 2019

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Table of Contents

Houston Attorney Gets 24 Months for Tax Evasion Scheme

A Houston attorney has been sentenced to 24 months in prison for his role in a brazen tax evasion scheme. Jack Stephen Pursley, also known as Steve Pursley, was convicted in September 2019 of conspiring to defraud the United States and tax evasion.

According to the evidence presented at trial, Pursley designed and implemented a scheme to transfer over $18 million in untaxed income from Southeastern Shipping’s business bank account, located in the Isle of Man, to the United States. The scheme involved disguising the transfers as stock purchases in US corporations owned and controlled by Pursley and his client.

Pursley received over $4.8 million and a 25% ownership interest in the co-conspirator’s ongoing business for his role in the fraudulent scheme. He used the money he garnered from the scheme for personal investments, including purchasing a vacation home in Vail, Colorado, and property in Houston, Texas.

U.S. District Judge Lynn N. Hughes also ordered Pursley to serve 2 years of supervised release and to pay approximately $1,788,753 in restitution to the United States. The restitution is a fraction of the estimated $18 million in untaxed income that Pursley helped to conceal from the Internal Revenue Service (IRS).

Principal Deputy Assistant Attorney General Richard E. Zuckerman and U.S. Attorney Ryan K. Patrick commended special agents of IRS-Criminal Investigation, who conducted the investigation, and Trial Attorneys Sean Beaty, Grace Albinson, and Jack Morgan of the Tax Division, who prosecuted the case.

The case serves as a reminder of the serious consequences of tax evasion and the importance of compliance with tax laws. It also highlights the efforts of law enforcement agencies to hold individuals accountable for their actions.

Pursley’s sentencing marks the end of a long and complex investigation, but it also serves as a warning to others who may be considering similar schemes. The Tax Division will continue to work tirelessly to protect the integrity of our tax system and to bring perpetrators to justice.