Lincoln County Man Indicted On Tax Charges

St. Louis, MO – PETER GIAMBALVO was indicted on tax charges for allegedly filing false tax returns from 2003-2010.

According to the indictment, Giambalvo was an employee of The Boeing Company.  The indictment alleges that for eight years beginning in 2003 through 2010, Giambalvo claimed zero earnings, when in fact he had earned wages, salaries, tips, etc. of approximately $498,540 for those years.

"Those Americans who file accurate, honest and timely returns can be assured that the government will hold accountable those who don't," said Sybil Smith, Special Agent in Charge of IRS Criminal Investigation.

Giambalvo, Hawk Point, MO, was indicted by a federal grand jury on one felony count of interfering with the administration of the Internal Revenue Laws, and eight felony counts of filing false tax returns. The indictment was returned March 5, but remained sealed until the arrest of the defendant earlier today.

If convicted, each count of the indictment carries a maximum penalty of three years in prison and/or fines up to $250,000.  In determining the actual sentences, a Judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.

This case was investigated by IRS Criminal Investigation. Assistant United States Attorney Steven Muchnick is handling the case for the U.S. Attorney's Office.

As is always the case, charges set forth in an indictment are merely accusations and do not constitute proof of guilt.  Every defendant is presumed to be innocent unless and until proven guilty.