Jerome Schneider Pleads Guilty for Conspiracy to Defraud the IRS

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Thursday, April 1, 2004
Author: 
Bruce Zagaris
Volume: 
20
Issue: 
4
131
Abstract: 
On February 11, 2004, the U.S. Attorney?s Office for the Northern District of California announced that Jerome Schneider, a resident of Vancouver, British Columbia, Canada, pled guilty to conspiracy to defraud the Internal Revenue Service in violation of 18 U.S.C. ยง 371. On December 19, 2002, a Federal Grand Jury indicted Jerome Schneider and his co-defendant Eric Witmeyer on one count of conspiracy and 22 counts of mail and wire fraud in connection with the marketing and sales to U.S. taxpayers of offshore banks and/or corporations. The indictment alleges the defendants then caused the entities to be decontrolled which was a process the defendants used to try to conceal the U.S. taxpayer?s ownership in the offshore bank or corporation, so that they could evade IRS reporting requirements for taxpayers having an interest in foreign accounts and to evade the payment of tax on income transferred to and/or earned by the offshore bank accounts. On January 23, 2003, Eric Witmeyer, an attorney, pled guilty to the conspiracy count and agreed to cooperate with the government against Mr. Schneider....[more]