Utah’s business community was left reeling yesterday as former CEO Peter Nordberg, 61, of Alameda, California, pleaded guilty to tax evasion in a Salt Lake City court.
According to court documents, Nordberg, the former Chief Executive Officer of Max International, a company that produces and markets nutritional supplements, caused his bonus income to be paid 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, resulting in a tax loss of approximately $275,000.
Nordberg’s actions were discovered through a thorough investigation by special agents of IRS Criminal Investigation.
As a result of his guilty plea, Nordberg faces a statutory maximum sentence of five years in prison, a period of supervised release, restitution, and monetary penalties.
His sentencing is scheduled for November 30 before U.S. District Court Judge Benson.
Nordberg’s case serves as a stark reminder of the consequences of tax evasion and the importance of honesty and transparency in financial dealings.
Key Facts
- State: Utah
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
MORE FEDERAL CRIME NEWS
White Collar CrimeWhite Collar CrimeWhite Collar CrimeWhite Collar Crime