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States v. Wickersham, Criminal No. 1:92-CR-98, in the U.S.
District Court for the Eastern District of Texas. Count VI of
the indictment charged Mr. Wickersham with willfully making and
subscribing a U.S. individual income tax return, verified under
penalties of perjury and filed with the Internal Revenue Service,
which he did not believe to be true and correct in every material
matter in that the income tax return failed to report a taxable
capital gain of $349,641 realized from the sale of the Peveto to
the OCPND, as he then and there well knew and believed that the
Peveto had not been involuntarily converted and that taxes were
due from any gain so realized from the sale in violation of
section 7206(1).
After a 6-day trial, the jury found Mr. Wickersham guilty on
count VI of the indictment and acquitted Mr. Wickersham and the
other defendants (Mr. Winfree and Mr. Frederick) on all other
counts. In United States v. Wickersham, 29 F.3d 191 (5th Cir.
1994), the U.S. Court of Appeals for the Fifth Circuit affirmed
the conviction.
OPINION
I. Fraud
The penalty in the case of fraud is a civil sanction
provided primarily as a safeguard for the protection of the
revenue and to reimburse the Government for the heavy expense of
investigation and the loss resulting from a taxpayer's fraud.
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