William H. Nurick, Tax Evasion, California 2011

William H. Nurick, Tax Evasion, California 2011

LOS ANGELES, Calif. – In a bold display of justice, William H. Nurick of Camarillo, Cal., has been sentenced to 60 months in prison and ordered to pay $286,443 in restitution for evading the payment of more than $150,000 in taxes.

In a five-day jury trial that concluded on September 14, 2011, Nurick was found guilty of evading taxes, a serious crime that undermines the integrity of our tax system.

The evidence presented at trial revealed that Nurick received approximately $1.1 million in distributions from the Genesis Fund between 1995 and 2002. During this time, he used eight different entities to conceal his control over bank accounts, vehicles, and real property.

In an attempt to avoid paying his taxes, Nurick deliberately and systematically concealed assets between May 2000 and April 2001. This included transferring approximately $133,000 from an offshore bank account that he controlled to a witness’s offshore bank account.

Nurick also submitted a false “Offer in Compromise” to the IRS, offering to pay less than one tenth of his outstanding debt. This document, signed under penalties of perjury, falsely understated his net worth and income, and failed to indicate a bank account in Costa Rica with a balance in excess of $200,000, which consisted primarily of distributions he had received from the Genesis Fund.

Of the nine defendants originally charged in this case, eight defendants pleaded guilty to charges including tax fraud, obstruction of justice, and securities violations. Judge Fischer sentenced many of the defendants to significant prison terms and ordered restitution payments totaling millions of dollars.

Defendant William H. Nurick, of Camarillo, Cal., was sentenced to 60 months in prison and ordered to pay $286,443 in restitution by U.S. District Judge Dale S. Fischer in Los Angeles, the Justice Department and Internal Revenue Service (IRS) announced today. The exact criminal charges against William H. Nurick are evading the payment of more than $150,000 in taxes. He resides in Camarillo, California. The crime occurred between 1994 and 2002. Nurick was sentenced on a date not specified in the source material. The sentence was 60 months in prison and restitution of $286,443. The exact date of the crime was not specified in the source material.

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