Related Federal Cases
Germantown Man Indicted for $550K Tax Evasion
A 46-year-old Germantown man was charged with tax evasion this week for failing to file and pay over $500,000 in income tax returns.
According to the indictment, John Ballard, a former securities/investment broker, failed to file and pay income tax returns from 2000 to 2008. Ballard’s delinquency caused him to owe $553,627.28 in back taxes. This amount, however, doesn’t include penalty charges and accrued interest.
Ballard was able to avoid satisfying his tax obligations by falsely claiming to the Internal Revenue Service (IRS) that he was unemployed and unable to find employment.
Despite owing the government, the indictment alleges Ballard was paid approximately $522,140.79 in 2009 alone from his then employer NFP Securities.
Ballard faces up to five years in prison if convicted. The case was investigated by IRS-Criminal Investigation. The government’s case is being prosecuted by Assistant U.S. Attorney John Fabian.
The charges and allegations contained in the indictment are merely accusations, and the defendants are considered innocent unless and until proven guilty.
Ballard’s actions are a stark reminder of the importance of paying taxes on time. As a former broker, he had a responsibility to the financial system and to the government to pay his taxes. His failure to do so has resulted in significant financial consequences, not just for himself, but also for the government.
Key Facts
- State: Tennessee
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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