A Bryn Mawr resident has pleaded guilty to filing false tax returns, causing a loss of over $100,000 to the IRS, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney William M. McSwain for the Eastern District of Pennsylvania.
Jordan Richter, the 99.5% owner of Diamond Spot Media LLC, a marketing partnership, sold marketing services and products to stock promoters from 2012 to 2014. During this time, Richter inflated business expenses on the partnership’s tax returns to reduce the reported income. This led to underreporting income on his personal returns for the years 2012 through 2014.
According to court documents and statements made in court, Richter caused a tax loss to the IRS of over $100,000. This financial loss is a direct result of his actions in filing false tax returns.
U.S. District Judge C. Darnell Jones II has scheduled sentencing for March 8, 2021. At sentencing, Richter faces a maximum sentence of three years for each count. He also faces a period of supervised release, restitution, and monetary penalties.
Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney William M. McSwain commended special agents of IRS-Criminal Investigation, who conducted the investigation, and Trial Attorney Chingos of the Tax Division and Assistant U.S. Attorneys Murray and Smith, who are prosecuting the case.
Richter, a resident of Bryn Mawr, Pennsylvania, is currently awaiting sentencing. The investigation was conducted by the IRS-Criminal Investigation and is being prosecuted by the Tax Division and the U.S. Attorney’s Office for the Eastern District of Pennsylvania.
The case serves as a reminder of the consequences of tax evasion and the importance of honest reporting to the IRS. The prosecution of tax crimes is a key priority for the Justice Department’s Tax Division.
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Key Facts
- State: Pennsylvania
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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