Tennessee Man Charged with Tax Crimes
Bail Bondsman Failed to Report Substantial Income and Failed to File Tax Returns
WASHINGTON - Kenneth L. Richardson of Nashville, Tenn., was arraigned in Nashville on charges of making and subscribing a false income tax return for 2004, and for failure to file a tax return for years 2005, 2006 and 2007, the Justice Department and Internal Revenue Service (IRS) announced today.
The indictment alleges that Richardson owned and operated a bail bonding company in Nashville, which did business as “Skyy Bonding Company.” According to the indictment, in 2004, Richardson did willfully make and subscribe an IRS Form 1040, U.S. Individual Income Tax Return, which he did not believe to be true and correct as to every material matter. The indictment alleges that Richardson knew he had substantial gross income in addition to the amount stated on his 2004 tax return.
The indictment further alleges that for tax years 2005, 2006 and 2007, Richardson had gross income that required the filing of a tax return, but willfully failed to make an income tax return as required by law.
An indictment is merely a formal charge by the grand jury. Each defendant is presumed innocent unless and until proven guilty in U.S. District Court. If convicted, the defendant faces a maximum potential sentence of six years in prison and maximum fines of $550,000. The court has not yet set a trial date.
The case is being prosecuted by Tax Division trial attorneys Michelle M. Petersen and Kathryn B. Ward. The case was investigated by the IRS-Criminal Investigation Division.
Additional information about the Justice Department’s Tax Division and its enforcement efforts may be found at www.usdoj.gov/tax .