Man Pleads Guilty To Tax Evasion For Not Reporting Income From Wire Fraud Scheme
CONCORD, NEW HAMPSHIRE – William M. Richmond, 59, formerly of Atkinson, New Hampshire, pleaded guilty to three counts of tax evasion for failing to report substantial illicit income he received from a wire fraud scheme from 2006 through 2008, reports Acting United States Attorney Donald Feith.
From on or about May 18, 2005, through in and around April 2009, Richmond held a durable power of attorney to act for the benefit of Richard Piller. It gave him plenary power to manage Piller’s personal and business financial interests and obligations while Piller and his then wife, Joan Ettelson Piller (Ettelson), were out of the country for extended periods. Richmond used the Power of Attorney to perpetrate a wire fraud scheme through which he used Piller’s and Ettelson’s funds to pay his personal and business expenses. Richmond failed to disclose that criminally derived income on his tax returns for 2006, 2007, and 2008, and he failed to list the substantial additional taxes he owed for each year based on that income. Instead, Richmond falsely claimed that his only income was taxable interest and that he owed no taxes for each of the three years.
Richmond is facing a maximum sentence of five years in prison and a maximum fine of $250,000. Under the terms of a plea agreement, Richmond will also be ordered to pay restitution of an amount to be determined by the court to Richard Piller and Joan Ettelson. A sentencing hearing has been scheduled for November 3, 2015.
This case was investigated by special agents of the FBI and the IRS – Criminal Investigation. It is being prosecuted by Assistant United States Attorney Mark S. Zuckerman.