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Tennessee Man Charged with Five Counts of Tax Evasion
Jimmie Duane Ross, a resident of Sevierville, Tennessee, has been charged with five counts of tax evasion. According to the indictment, Ross received a monetary award of $840,000 in 1999 as a result of an employment dispute with a former employer. However, he 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.
Additionally, during tax years 2004 through 2007, Ross 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.
Ross’s arrest was made public on May 10, 2011, when the April 5, 2011 indictment was unsealed. The indictment was handed down by a federal grand jury in Knoxville, Tennessee.
More information about the Tax Division and its enforcement efforts is available at www.usdoj.gov/tax/. The case serves as a reminder of the importance of paying taxes and the severe consequences of tax evasion.
Key Facts
- State: Federal
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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