Huntsville Man Sentenced For Tax Evasion
HUNTSVILLE -- A federal judge today sentenced a Huntsville man to five years probation, including eight months home detention, for tax evasion and ordered him to pay $3.7 million in restitution to the government, announced U.S. Attorney Joyce White Vance and Internal Revenue Service Criminal Investigation Special Agent In Charge Veronica Hyman-Pillot.
U.S. District Judge Abdul K. Kallon sentenced PAUL BRACY, 71, on one count of tax evasion. The U.S. Attorney's Office charged Bracy in July. According to court documents, the IRS was about to determine Bracy was personally responsible for $60,995 in unpaid taxes associated with businesses he owned, when Bracy conveyed four pieces of real property, via “sham transactions,” to others in order to avoid IRS seizure of the properties to satisfy the outstanding tax amount. As part of his plea agreement, Bracy agreed to pay the $3,747,650 in restitution to the government.
“Most citizens diligently pay their taxes,” said Vance. “The willful failure of others to do so is patently unfair and criminal. We will aggressively seek to investigate and prosecute those individuals.”
“Individuals who earn income should accurately report their income to the IRS,” stated Veronica F. Hyman-Pillot, Special Agent in Charge with IRS Criminal Investigation. “The sentence today, should reassure Americans, that those individuals who willfully and intentionally violate their known legal duty of filing and paying their fair share of taxes will be prosecuted."
The IRS-CI investigated the case, which was prosecuted by the U.S. Attorney's Office for the Northern District of Alabama.