San Francisco – A federal grand jury has leveled a heavy打击 on Michael M. Gilbert, a certified public accountant from San Rafael, California, by returning a superseding indictment charging him with filing false tax returns and orchestrating a mail fraud scheme.
The indictment accuses Gilbert of underreporting the income of his accounting firm, M.M. Gilbert & Company Inc., during 2017-2020, while he was a licensed CPA since 1985. The allegations claim that Gilbert solicited payments from clients for supposed ‘tax strategies’ and ‘donations,’ funnelling them into White Mountain Properties Inc., another entity he controlled.
According to the charges, these funds were meant to be proceeds of his fraudulent scheme promising tax benefits to clients. But instead, the money was allegedly siphoned off by Gilbert for personal gain, with more than $5 million transferred from White Mountain to him in 2020-2021 without reporting it on his individual tax returns.
The indictment emphasizes that an indictment is merely an accusation, and Gilbert is presumed innocent until proven guilty. If convicted, he faces up to 20 years for each mail fraud count, 10 years for money laundering, and three years for the false tax return charges.
The U.S. Attorney Craig H. Missakian, Acting Deputy Assistant Attorney General Karen Kelly of the Justice Department’s Tax Division, and IRS-CI Oakland Field Office Special Agent in Charge Linda Nguyen announced the charges. The prosecution team includes Assistant United States Attorney Sara E. Henderson, Marina Ponomarchuk, Julia M. Rugg, and Patrick Burns.
This investigation is a result of an extensive probe by IRS-CI, highlighting the agency’s commitment to exposing financial crimes and protecting taxpayers.
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Key Facts
- State: California
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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