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Las Vegas Minister Sentenced in $7M Tax Evasion Scheme
MICHAEL HAYNES, a practicing minister from Las Vegas, was sentenced to 37 months in prison for his role in a $7 million tax evasion scheme.
Haynes, 45, was convicted of conspiring to evade taxes through a scheme involving the fraudulent sale of One Voice Technologies Inc. stock. His co-conspirator, David Jett, 40, pleaded guilty to conspiracy in March 2008.
According to court documents, Haynes and Jett orchestrated the fraudulent sale of $7 million in One Voice stock, using at least ten stock certificates in different nominee names. The scheme involved new stock certificates being issued to at least five nominees, two of whom testified at trial.
Haynes directed the $7 million in stock proceeds to be deposited in a nominee bank account at the Bank of Nova Scotia. The proceeds were then transferred via checks and wire transfers to U.S. bank accounts in his and Jett’s control.
Haynes failed to report the proceeds of the stock sale on his personal income taxes, resulting in a $834,000 restitution order to the U.S. Treasury. Jett was ordered to pay $150,000 in restitution.
Chief U.S. District Judge Robert L. Hunt handed down the sentence in Las Vegas, commending the IRS special agents who investigated the case and the Tax Division trial attorneys who prosecuted it.
Haynes and Jett’s scheme has left a trail of financial destruction, and their sentences serve as a reminder of the consequences of tax evasion. The case is a stark reminder that those who engage in financial crimes will be held accountable.
Key Facts
- State: Federal
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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