DOW JONES NEWSWIRES Timothy Shawn Dunn was sentenced to 17 1/2 years in prison for his role in a nationwide $60 million tax fraud conspiracy, the U.S. Department of Justice said Thursday.
Dunn, of Chesterton, Ind., was one of six convicted in May for selling and promoting sham trusts that, over the course of the decade, allowed them to hide hundreds of millions of dollars in clients' income from the Internal Revenue Service, the Justice Department said. The actions resulted in a $60 million tax loss to the U.S.
Dunn was originally indicted in 2004 and was the fourth of the co-defendants to be sentenced, with the other three receiving sentences of at least 10 years each.
Lead defendant Michael Vallone, a founder and executive director of the Aegis Co. - a now defunct organization that sold and marketed trust packages to wealthy clients - was sentenced in October to more than 18 1/2 years in prison.
Prior to his conviction, Dunn owned Moneyfacts, a Highland, Ind.-based financial advisory business.
In addition to his sentence, Dunn was sentenced to three years of supervised release. He also remains liable for about $315,000 for his own unpaid taxes, plus penalties and interest. In addition to the tax fraud conspiracy, Dunn was found guilty on 11 counts of aiding and assisting in false return filings, one count of personal income tax evasion and two counts of filing false personal income tax returns.
-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com
(Sarah N. Lynch contributed to this report.)
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(END) Dow Jones Newswires
December 04, 2008 17:45 ET (22:45 GMT)

Publié le 04 Décembre 2008 Copyright © 2008 Dowjones