Tuesday, April 30, 2013
79-year-old millionaire, Mary Curran pleaded guilty for tax evasion and was sentenced to one year of probation in federal court. However, the judge immediately revoked the sentence. Reports allege that the judge suggested that the prosecution was unnecessary. Originally, Curran faced up to six years in prison plus one year of probation and a fine. Curran had not paid income tax on her $43 million dollars in an offshore account. As a result, she faced prosecution for tax evasion. Nonetheless, Curran did file a voluntary disclosure with the IRS. In spite of this, the disclosure came too late. The Department of Justice had started an investigation, which precluded her from the voluntary disclosure program. Curran has agreed to pay roughly 21.7 million dollars as a penalty.
See Alistar M. Nevius, Widow Avoids Jail Time and Probation in Sentencing for Offshore Account Tax Evasion, American Institute of CPAs, Apr. 26, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.