Fort Collins, CO – In a shocking indictment, Ryan Ulibarri, a Colorado dentist, has been charged with six counts of tax evasion for his involvement in an illegal tax shelter scheme. According to the indictment, Ulibarri allegedly used the tax shelter to conceal over $3.5 million in income he earned from his dental practice, Ulibarri Family Dentistry, in Fort Collins.
Between 2017 and 2022, Ulibarri allegedly transferred nearly all of the funds he earned from his dental practice to bank accounts for three trusts and a private foundation he created. He then used those funds to pay personal expenses, including the mortgage on his home and credit card bills. The scheme allowed Ulibarri to avoid paying taxes on the income, causing a tax loss of over $1 million to the IRS.
The indictment alleges that Ulibarri signed trust instruments and re-structured his dental practice to make it appear that the majority of it was owned by one of the trusts. He also filed false tax returns for himself and the trusts, assigning the income he earned and controlled from his practice to the trusts.
The case was investigated by the IRS Criminal Investigation and is being prosecuted by the Tax Division’s Trial Attorneys Amanda R. Scott and Lauren K. Pope, and Senior Litigation Counsel Corey J. Smith. Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division made the announcement.
An indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. If convicted, Ulibarri faces a maximum penalty of five years in prison for each count of tax evasion.
A federal district court judge will determine the sentence after considering the U.S. Sentencing Guidelines and other statutory factors. The indictment is available on the Tax Division’s website.
Ulibarri’s alleged scheme is a stark reminder of the importance of tax compliance and the consequences of tax evasion. The IRS and the Tax Division will continue to work together to investigate and prosecute tax crimes, ensuring that those who evade taxes are held accountable.
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Key Facts
- State: Colorado
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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