News and Press Releases

LAKE ORION MAN PLEADED GUILTY ON TAX EVASION

FOR IMMEDIATE RELEASE
January 18, 2011

Michael Hennessy, 59, of Lake Orion, pleaded guilty today to one count of tax evasion, announced United States Attorney Barbara L. McQuade. In October 2009, Hennessy was indicted on four counts of tax evasion.

McQuade was joined in an announcement by Special Agent in Charge Erick Martinez, Internal Revenue Service Criminal Investigation Division.

According to court records, during the year 2000, Hennessy, a dentist, owned Clarkston Family Dentistry, in Clarkston, Michigan and made over $300,000 in income. In October 2000, Hennessy set up a bank account in the name of Plus One Enterprises, a pure trust created by Innovative Financial Consultants. In this case, Plus One Enterprises was a sham trust, set up to assist Hennessy in the evasion of his taxes. In 2002, when Hennessy was interviewed by IRS Special Agents he stated that he had no control over the trust account, when in fact, he and his wife deposited the money and wrote checks for various personal expenditures. During 2000 through 2003 Hennessy received over $1.1 million in taxable income and failed to report it on his tax returns.

"Moving money through a sham trust to hide taxable income is a very serious offense,” said Martinez. "The law is crystal clear; people must pay their taxes."

The case was investigated by special agents of the IRS Criminal Investigation. The case is being prosecuted by Assistant U.S. Attorney Steven P. Cares.

 

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