NORTHGLENN LICENSED INSURANCE AGENT PLEADS GUILTY
TO TAX FRAUD SCHEME

DENVER - Troy A. Eid, U.S. Attorney for the District of Colorado, and Terry L. Stuart, Special Agent in Charge, IRS Criminal Investigation Division, announced late today that U.S. District Court Chief Judge Edward W. Nottingham, Jr. accepted Cindy L. Beyersdorf’s, guilty plea to Count One of an Indictment, charging Ms. Beyersdorf with subscribing and filing a false and fraudulent federal income tax return for the year 2001, in violation of 26 U.S.C. § 7206(1).  On December 5, 2006, a federal grand jury in Denver, Colorado, returned an indictment charging Ms. Beyersdorf, age 47,  of Northglenn, Colorado  with three counts of filing false tax returns, pursuant to 26 U.S.C. § 7206(1), and three counts of fraud in connection with identification documents pursuant to 18 U.S.C. § 1028.  Ms. Beyersdorf faces a maximum sentence of three years imprisonment, a $250,000 fine, and liability for the cost of prosecution. Chief Judge Nottingham scheduled sentencing for May 22.

Beyersdorf, a licensed insurance agent in the State of Colorado, owned and operated the sole proprietorship Horizons Insurance.  Pursuant to the plea agreement, Beyersdorf admitted that she signed and filed an Internal Revenue Service Form 1040, Individual Income Tax Return, for calendar year 2001, that falsely represented that the gross receipts from the operation of Horizons Insurance were $14,888, when, as Beyersdorf then and there well knew and believed, the gross receipts were much higher, totaling $87,878.  In the plea agreement, Beyersdorf further acknowledged that her 2002 and 2003 tax returns similarly understated Horizons Insurance’s gross receipts, and admitted that her criminal conduct caused a tax loss greater than $30,000.

"Hide income or assets from the IRS and you could face federal prison, civil penalties, or both,” said US Attorney Troy Eid.

“With the April 15 tax deadline looming, it is important for people to have confidence that when they pay their taxes, their neighbors and competitors will do the same,” said Terry L. Stuart, Special Agent in Charge of the IRS-Criminal Investigation, Denver Field Office.

The case was prosecuted by Department of Justice Trial Attorneys John P. Scully and Charles A. O'Reilly.

 

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