Houston Attorney Charged in Offshore Tax Evasion Scheme
Houston, TX
   
 
More Today's News:
ߦ   Teen who wanted to be cop hacked into police computer system
ߦ   Texas City HS student arrested after alleged threat found on bathroom wall
ߦ   Traffic Fatality #52
ߦ   U.S. Soldier Sentenced to More Than 11 Years for Illegally Manufacturing, Using a Chemical Weapon
ߦ   19 Busted In Waco On Federal Drug Trafficking Charges
ߦ   3D printed gun advocate accused of paying minor for sex is arrested in Taiwan
ߦ   At least 6 suspects charged with murder in August in Bexar County
ߦ   Constable Deputies Track, Arrest Car Thief
ߦ   Convicted sex offender accused of having sex with dog
ߦ   Houston Attorney Charged in Offshore Tax Evasion Scheme
ߦ   Houston Physician and a Pain Management Clinic Owner Each Sentenced to 35 Years in Prison
ߦ   Man Jailed For Exposing Himself At Elementary School
ߦ   Mexican National Sentenced for East Texas Drug Trafficking
ߦ   Officer And Deceased Identified In Police Shooting
ߦ   Pair Jailed For Theft Of A Firearm
ߦ   Popular Galveston bar could lose alcohol license for drunk-driving related fatality after TABC case
ߦ   Sherffi's Deputies Seize Marijuana Grow Crop
ߦ   Sheriff’s Office Investigating Incident at Montgomery County Animal Shelter
ߦ   Texas woman gets prison in virtual kidnapping, ransom scam
ߦ   Video: Texas Officer Pulls Motorist Clear Just As Truck Slams Into Car
ߦ   Best TV News Bloopers August 2018
ߦ   Calif. officer dies after medical emergency at home
ߦ   Deputy killed by gunfire, 2nd wounded
ߦ   DPS Offers Increased Reward, Seeks Leads in 1980 Cold Case
ߦ   Ex-Iowa State golfer found dead at course; suspect charged with her murder
ߦ   Galveston Police Arrest Negligent Bartenders in Connection with June Fatal Crash
ߦ   Georgia police chief killed during pursuit
ߦ   Heated Santa Fe ISD meeting highlights contention between parents and school board
ߦ   Houston Fire Dept - Activity Summary
ߦ   Houston Police Dept - Activity Summary
ߦ   Illegal Alien MS-13 Member Convicted of Assaulting a Federal Witness, Drug Distribution, Immigration and Firearms Violations
ߦ   Inside the SWAT team that took down the Austin bomber
ߦ   Kan. deputy fatally shot during arrest
ߦ   Man claims to be police officer after storming into Houston home, officials say
ߦ   Pearland Police Dept - Arrest Bulletin 09/10-16/2018

 
Search Archives:
Department of Justice
Office of Public Affairs
FOR IMMEDIATE RELEASE
Thursday, September 20, 2018

Allegedly Conspired to Repatriate More Than $18 Million in Untaxed Money Held in Foreign Bank Accounts

A federal grand jury sitting in Houston, Texas returned an indictment today charging a Houston attorney with one count of conspiracy to defraud the United States and three counts of tax evasion, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Department of Justice’s Tax Division and U.S. Attorney Ryan K. Patrick for the Southern District of Texas.

According to the indictment, Jack Stephen Pursley, also known as Steve Pursley, conspired with another individual to repatriate more than $18 million in untaxed earnings from the co-conspirator’s business bank account located in the Isle of Man.  Knowing that his co-conspirator had never paid taxes on these funds, Pursley allegedly designed and implemented a scheme whereby the untaxed funds were made to appear to be stock purchases in United States corporations owned and controlled by Pursley and his co-conspirator.

The indictment alleges that Pursley received more than $4.8 million and an ownership interest in the co-conspirator’s ongoing business for his role in the fraudulent scheme.  The indictment further alleges that for tax years 2009 and 2010 Pursley evaded the assessment of and failed to pay the incomes taxes due on this money by, amongst other means, withdrawing the funds as purported non-taxable loans or returns of capital.  Pursley allegedly used the money he received to purchase personal assets, including a vacation home in Vail, Colorado and property in Houston.  

If convicted, Pursley faces a statutory maximum sentence of five years in prison for the conspiracy count, and five years in prison for each count of tax evasion.  He also faces a period of supervised release, monetary penalties, and restitution.

An indictment merely alleges that a crime has been committed. A defendant is presumed innocent until proven guilty beyond a reasonable doubt.

Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney Patrick commended special agents of IRS-Criminal Investigation, who investigated the case, and Senior Litigation Counsel Nanette Davis, Trial Attorney Grace Albinson, and Trial Attorney Sean Beaty of the Tax Division, who are prosecuting this case.

Topic(s): 
Tax
Component(s): 
Press Release Number: 
18 - 1231
Post a comment
Name/Nickname:
(required)
Email Address: (must be a valid address)
(will not be published or shared)
Comments: (plain text only)
Printer Friendly Format  Printer Friendly Format    Send to a Friend  Send to a Friend    RSS Feed  RSS Feed
  Facebook   Share link on Twitter Tweet  
© 1999-2018 The Police News. All rights reserved.