News and Press Releases

Watertown Men Charged in 21-Count Indictment

FOR IMMEDIATE RELEASE
January 18, 2011
Contact: Mark E. Salter
Assistant United States Attorney
605-357-2360

United States Attorney Brendan V. Johnson announced that Timothy M. Engels and Larry A. Jerde, both of Watertown, were indicted by a federal grand jury on January 4, 2011.

The 21-count indictment charges Engels, owner of the Harbor Bar in Watertown, with one count of conspiracy to defraud the United States, three counts of tax evasion, five counts of filing false tax returns, and five counts of structuring currency transactions.

Jerde, a certified public accountant in Watertown, is charged with one count of conspiracy to defraud the United States and six counts of preparing false income tax returns for his client, Engels.

Engels appeared before US Magistrate Judge William D. Gerdes in Aberdeen on January 18, 2011, and pled not guilty to the indictment. Jerde is scheduled to be arraigned at 3:00 p.m. on January 19 in Aberdeen.

The charges are merely accusations, and the defendants are presumed innocent until and unless proven guilty. The maximum penalties upon conviction are:

• Conspiracy to defraud the United States - 5 years of imprisonment on each count and/or a $250,000 fine;
• Tax evasion - 5 years of imprisonment on each count and/or a $250,000 fine;
• Filing false tax returns - 3 years of imprisonment on each count and/or a $250,000 fine;
• Structuring currency transactions - 5 years of imprisonment on each count and/or a $250,000 fine. If it is determined that the structuring conduct is part of a pattern of illegal activity involving over $250,000 in a 12-month period, then the penalty is 10 years of imprisonment and/or a $500,000 fine.

The investigation is being conducted by the IRS, and Assistant United States Attorney Kevin Koliner is prosecuting the case.

 

 

 

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