Jimmie Duane Ross, Tax Evasion, Tennessee 2011

Taxman Caught: Tennessee Man Indicted for Tax Evasion

WASHINGTON – A Tennessee man’s scheme to evade taxes has finally caught up with him. Jimmie Duane Ross, a resident of Sevierville, Tenn, was indicted by a federal grand jury in Knoxville, Tenn, for five counts of tax evasion, the Internal Revenue Service (IRS) announced today.

According to the indictment, in 1999, Ross received a sizeable monetary award of $840,000 as a result of an employment dispute with a former employer. However, instead of paying his fair share, Ross failed to pay taxes on this amount and evaded the payment of such taxes by filing a false mortgage upon his residence and a false lien upon his vehicle, dealing extensively in cash, and directing funds to an offshore bank account.

Ross’s tax evasion scheme didn’t stop there. During tax years 2004 through 2007, he earned commissions for referring clients to Guardian Trust Company Ltd., a purported offshore investment company. However, he evaded his taxes for those years by funneling his commissions through a nominee offshore entity that he controlled.

An indictment merely alleges that a crime has been committed, and a defendant is presumed innocent until proven guilty beyond a reasonable doubt. If convicted, Ross faces a sentence of up to five years in prison and a $250,000 fine for each count of conviction.

The case was investigated by IRS-Criminal Investigation and is being prosecuted by Tax Division Trial Attorneys Tracy Gostyla and Kevin Lombardi.

More information about the IRS’s enforcement efforts is available at www.usdoj.gov/tax/.

Jimmie Duane Ross, 5 counts of tax evasion, Sevierville, Tenn, 1999, 2004-2007, up to 5 years in prison and $250,000 fine for each count of conviction.

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