Chicago Consultant Pleads Guilty to Federal Tax Offense

Chicago Consultant Pleads Guilty to Federal Tax Offense

Chicago Consultant Pleads Guilty to Federal Tax Offense (Chicago, IL) – A Chicago consultant pleaded guilty today to a federal tax offense for willfully attempting to evade and defeat the assessment of income taxes.

Advertisement
Patricia Bonk for State Rep

EDWARD ACEVEDO, 58, of Chicago, pleaded guilty to a tax evasion charge before U.S. District Judge Matthew F. Kennelly.  The conviction is punishable by a maximum sentence of five years in federal prison.  Judge Kennelly set sentencing for March 9, 2022.

The guilty plea was announced by John R. Lausch, Jr., United States Attorney for the Northern District of Illinois; Justin Campbell, Special Agent-in-Charge of the IRS Criminal Investigation Division in Chicago; and Emmerson Buie, Jr., Special Agent-in-Charge of the Chicago Field Office of the FBI.  The government is represented by Assistant U.S. Attorneys Amarjeet S. Bhachu, Diane MacArthur, Sarah E. Streicker, Timothy J. Chapman, Michelle Kramer, and Julia Schwartz.

Acevedo worked as a self-employed consultant.  He admitted in a plea agreement that he willfully failed to file an individual income tax return for the calendar years 2015 through 2018, causing a loss to the IRS of at least approximately $37,380.  Acevedo further admitted that he attempted to evade taxes by handling his affairs in a manner so as to avoid the creation and maintenance of customary business and accounting records.

After discovering that he was under investigation by the IRS, Acevedo provided incomplete information to his accountant concerning the sources of Acevedo’s income and expenses for 2017 and 2018, causing the accountant to prepare incomplete federal tax returns for those years, the plea agreement state.

Plea Agreement

Defendant understands that his compliance with each part of this Agreement extends throughout the period of his sentence, and failure to abide by any term of the Agreement is a violation of the Agreement. Defendant further understands that in the event he violates this Agreement, the government, at its option, may move to vacate the Agreement, rendering it null and void, and thereafter prosecute defendant not subject to any of the limits set forth in this Agreement, or may move to resentence defendant or require defendant’s specific performance of this Agreement.

Defendant understands and agrees that in the event that the Court permits defendant to withdraw from this Agreement, or defendant breaches any of its terms and the government elects to void the Agreement and prosecute defendant, any prosecutions that are not timebarred by the applicable statute of limitations on the date of the signing of this Agreement may be commenced against defendant in accordance with this paragraph, notwithstanding the expiration of the statute of limitations between the signing of this Agreement and the commencement of such prosecutions.

Chicago Consultant Pleads Guilty to Federal Tax Offense

Advertisement
Monica Gordon for Cook County Commissioner

Related Articles

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax – In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes.

Responses

Your email address will not be published.