- 5 - financing of the real estate development projects identified above: Bank, wire, and mail fraud; conspiracy to defraud a financial institution; submitting false statements (overvalued land appraisals) to Federally insured financial institutions; racketeering; and obtaining land acquisition and construction loans under false pretenses. Petitioner was also charged in counts 86 and 87 with violating section 7206(1) (willfully filing false tax returns) for 1985 and 1986.2 Count 86 of the indictment alleged in pertinent part: the defendant * * * did knowingly and willfully make and subscribe a U.S. Individual Income Tax Return, Form 1040, for the calendar year 1985, * * * which return the defendant did not believe to be true and correct as to every material matter, in that the said return reported a total income of $53,625 for said calendar year, whereas, as the defendant then well knew and believed, he had received additional income in the approximate amount of $1,361,361.79 and had not reported such income in his tax return. In violation of Title 26, United States Code, Section 7206(1). Count 87 of the indictment was substantially like count 86. It charged that petitioner knowingly failed to report income of $4,268,767.83 on his 1986 tax return. At the criminal trial, the Government called an Internal Revenue Service special agent (the special agent) as a witness. 2 Sec. 7206(1) makes it a felony for a person to willfully make and subscribe any return, statement, or other document, which contains or is verified by a written declaration that it is made under the penalties of perjury, and which such person does not believe to be true and correct as to every material matter.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011