LAS VEGAS - - A former home developer in Las Vegas pleaded guilty today in United States District Court to the felony offense of Willfully Filing a False Income Tax Return, announced Daniel G. Bogden, United States Attorney for the District of Nevada. STEVEN WILLIAM REBEIL pleaded guilty to a one-count Criminal Information in which he admitted that on or about October 20, 1995, he filed a false individual income tax return for the calendar year 1994. He is facing up to three years in prison and a fine of not more than $250,000 when he is sentenced on June 11, 2004, before U.S. District Judge Roger L. Hunt.

According to the court record, REBEIL was a residential home developer in Las Vegas, Nevada, and the surrounding area and operated under the names CONFETTI PARTNERSHIP, GEM HOMES, INC., PEBBLE PROPERTIES LIMITED, PIZZAZ II PARTNERSHIP, SUMMER PARK PARTNERSHIP, and GEM DEVELOPMENT COMPANY. STEVEN WILLIAM REBEIL accrued $500 to $1,000 in credits with respect to each house for which the subcontractor provided services. The amount was deducted as a business expense, but kept on the books by the subcontractor as a credit available to STEVEN WILLIAM REBEIL personally. During the tax years 1993 through 1995, STEVEN WILLIAM REBEIL received income of approximately $622,200 from the application of these credits to his personal construction projects, primarily the construction of his residence in the Spanish Trail development in Las Vegas. This income was not reported on his tax returns, resulting in a tax loss to the government of $174,216.

STEVEN REBEIL is released on a personal recognizance bond pending sentencing.

The case was investigated by Special Agents with IRS Criminal Investigation and was prosecuted by Department of Justice Trial Attorney Mark S. Determan.

# # # #