Tedmund Blankschein, Tax Fraud Conspiracy, Wisconsin 2020

A Milwaukee business owner has been sentenced for a $5.4 million tax fraud conspiracy in Wisconsin.

United States Attorney Matthew D. Krueger of the Eastern District of Wisconsin announced that on February 10, 2020, the Honorable Lynn Adelman sentenced Tedmund Blankschein to 15 months imprisonment followed by three years of supervised release for conspiracy to commit tax fraud.

Blankschein, 51, was also ordered to pay $5.4 million in restitution to the IRS, joint and several with his co-conspirator, Albert Golant, aka 'Alex Golant.'

The scheme involved Blankschein's and Golant's luxury vehicle brokerage businesses, WI Automotive T.R.U.S.T.; Lease, Registration, and Consulting LLC; and DOT Automotive of WI LLC, from at least May 2013 to May 2017.

Blankschein and Golant used diverted corporate receipts to gamble and purchase personal items such as expensive jewelry, which they concealed from their accountant.

The tax returns prepared by their accountant substantially overstated business expenses and underreported income by more than $12 million, generating a tax loss to the United States of more than $5.4 million.

This matter was investigated by the Internal Revenue Service-Criminal Investigations and the Federal Bureau of Investigation and was prosecuted by Assistant United States Attorney Laura S. Kwaterski.

Source: https://www.justice.gov/usao-edwi/pr/milwaukee-business-owner-sentenced-54-million-tax-fraud-conspiracy