⏱ 2 min read
Brentwood attorney David Gebhardt, 54, has pleaded guilty to filing false tax returns, concealing millions of dollars in income from cryptocurrency sales and his consulting business in Tennessee. From March 2018 through December 2022, Gebhardt withdrew approximately $6.6 million in funds from his cryptocurrency sales, but failed to report this income on his tax returns, despite being warned by his accountants. Gebhardt also failed to report all the gross receipts earned by his consulting business, causing a tax loss of more than $550,000.
Gebhardt’s scheme involved using decentralized exchanges and nominees to conceal his income from cryptocurrency investments. He indicated on his 2020 through 2022 tax returns that he did not engage in virtual currency transactions, when in fact he did. Gebhardt’s actions resulted in a significant tax loss, and he now faces serious consequences for his crimes.
Gebhardt pleaded guilty to two counts of filing false individual tax returns and faces a maximum penalty of 6 years in federal prison, as well as restitution and monetary penalties. His sentencing is scheduled for November 6, 2026. The case is being investigated by the IRS Criminal Investigation, and the announcement was made by United States Attorney Braden H. Boucek for the Middle District of Tennessee and Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division.
The Department of Justice has been cracking down on tax fraud and other financial crimes, with the creation of the National Fraud Enforcement Division announced on April 7. This division’s core mission is to investigate and prosecute those who steal or fraudulently misuse taxpayer dollars.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Tennessee
- Location: TN
- Source: DOJ Press Release
