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Justice News

Department of Justice
U.S. Attorney’s Office
Western District of Tennessee

FOR IMMEDIATE RELEASE
Thursday, April 30, 2015

Germantown Man Indicted for Failing to Pay $550,000 in Taxes

Memphis, TN A 46-year-old Germantown man was indicted this week on tax evasion charges for failing to file and pay more than $500,000 in income tax returns.

According to the indictment, John Ballard, a former securities/investment broker, failed to file and pay income tax returns from 2000 to 2008. Ballard’s delinquency caused him to owe $553,627.28 in back taxes. This amount, however, doesn’t include penalty charges and accrued interest.

Ballard was able to avoid satisfying his tax obligations by falsely claiming to the Internal Revenue Service (IRS) that he was unemployed and unable to find employment.

Despite owing the government, the indictment alleges Ballard was paid approximately $522,140.79 in 2009 alone from his then employer NFP Securities.

Ballard faces up to five years in prison if convicted.

The case was investigated by IRS-Criminal Investigation. The government’s case is being prosecuted by Assistant U.S. Attorney John Fabian.

The charges and allegations contained in the indictment are merely accusations, and the defendants are considered innocent unless and until proven guilty.

Topic(s): 
Tax
Updated February 4, 2016