Husband and Wife Indicted for Income Tax Evasion and Bankruptcy Fraud

DENVER – Daryl F. Yurek, age 60, and Wendy M. Yurek, age of 60, both of Littleton, Colorado were indicted by a Federal Grand Jury in Denver on October 7, 2015 for income tax evasion and bankruptcy fraud, announced United States Attorney John Walsh and IRS Criminal Investigation Acting Special Agent in Charge Steven Osborne.  The Yureks, husband and wife, had their initial appearance yesterday before U.S. Magistrate Judge Kathleen Tafoya. The Yureks were remanded, and a detention hearing was set for October 13, 2015.

From 1999 through 2012 Daryl Yurek was a partner in Bolder Venture Partners, and Wendy Yurek was a partner from 2008 through 2012.  Daryl Yurek acted as a consultant to start-up and growing companies and provided a variety of services, including temporary management and fundraising.  Daryl Yurek also exerted significant control over other companies, including ID Watchdog, and Veracity Credit Consultants. 

According to the information contained in the Indictment, Daryl and Wendy Yurek reported taxes due and owing for tax years 1999 and 2004 of $624,127 and $53,978, respectively.  In 2006, the Yureks attempted to settle this tax obligation with the IRS for $75,000 through an Offer in Compromise in which the Yureks claimed to have insufficient funds to pay the full amount owed.  Later, in September 2010, the Yureks filed with the United States Bankruptcy Court in the District of Colorado a Voluntary Chapter 7 Bankruptcy Petition. During the bankruptcy proceeding, Daryl Yurek testified that their primary reason for pursuing bankruptcy was "the $1.2 million that the IRS wants."

According to information contained in the Indictment, during the time that the Yureks claimed to have insufficient money to pay the owed taxes, the Yureks caused Veracity Credit Consultants and Bolder Venture Partners to pay for substantial personal expenses for the Yureks. In March 2006, the Yureks purchased a loft in downtown Denver for $1.3M in the name of one of their sons.  Between 2006 and 2011, Veracity Credit Consultants made mortgage payments on that downtown loft, which was the Yureks’ personal residence, totaling approximately $ 528,635. Bolder Venture Partners paid Condo Association Fees on the loft totaling approximately $43,866.  Between 2006 and 2010, Veracity Credit Consultants made rental payments totaling approximately $115,719 for a vacation house in Tabernash, Colorado, which was used by the Yureks.  Between 2007 and 2013, Veracity Credit Consultants also made payments totaling approximately $116,009 to the Pinehurst Country Club for Daryl Yurek’s membership dues and other expenses associated with the membership.

According to the indictment, the Yureks also committed numerous affirmative acts of evasion, including submitting to the IRS false and misleading statements on Forms 433-A, IRS Collection Information Statement for Wage Earners and Self-Employed Individuals.  In 2008 and 2009, Daryl Yurek also transferred shares that he held in ID Watchdog to Veracity Credit Consultants and to his sons while falsely claiming to the IRS that he had not made any transfers for less than full value.

Daryl Yurek was charged with one count of tax evasion, one count of bankruptcy fraud,  one count of making a false oath in connection with bankruptcy, and two counts of subscribing to a false document. Wendy Yurek was charged with one count of tax evasion and one count of bankruptcy fraud.  Subscribing to a false document carries a penalty of not more than 3 year in federal prison and a fine of up to $250,000.  The other charges each carry a penalty of not more than 5 year in federal prison and a fine of up to $250,000.

This case was investigated by the Internal Revenue Service – Criminal Investigation and is being prosecuted by Assistant U.S. Attorney Pegeen Rhyne.

The charges contained in the Indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.