Peter Nordberg, Tax Evasion, Utah 2017

Utah CEO Sentenced to Prison for Tax Evasion

A 62-year-old former Utah CEO has been sent to prison for tax evasion, according to a recent sentencing. Peter Nordberg, of Alameda, California, pleaded guilty in September 2017 to tax evasion.

According to court documents, Nordberg was the Chief Executive Officer of Max International, a company that produces and markets nutritional supplements directly and through independent associates and distributors. As an employee of Max International, Nordberg earned a salary and commissions equal to a percentage of sales.

Nordberg caused Max International to pay his bonus income to a nominee entity he established, and used a bank account in the name of the nominee entity to pay personal expenses. Nordberg concealed the bonus income and nominee entity from his return preparer and filed false tax returns with the Internal Revenue Service (IRS) that underreported his income.

Nordberg’s conduct caused a tax loss of approximately $275,000. In addition to the term of prison imposed, U.S. District Court Judge Dee Benson ordered Nordberg to serve 1 year of supervised release and to pay $354,770 in restitution to the United States Treasury.

Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Tax Division and U.S. Attorney John W. Huber for the District of Utah announced the sentence. The investigation was conducted by special agents of IRS Criminal Investigation.

Nordberg’s case highlights the importance of accurate and transparent tax reporting. The Tax Division and IRS will continue to investigate and prosecute individuals who engage in tax evasion and other financial crimes.

Source: https://www.justice.gov/archives/opa/pr/former-utah-ceo-sentenced-prison-tax-evasion