Miami Beach Condo-Hotel Developer Indicted on Tax Evasion Charges

A Chicago man has been indicted on charges that he evaded taxes to the tune of $1.75 million, the Chicago Sun-Times reports. The 43-year-old was once a heralded developer know for turning condominiums into hotels, including the Tides Hotel on Miami Beach. He has pleaded not guilty to three counts of tax evasion, the newspaper reports. Tax evasion in Miami and elsewhere throughout the country is a federal offense. Because it deals with the Internal Revenue Service, charges are brought by federal prosecutors and the case can be more difficult to defend. That's why hiring an experienced Miami Tax Defense Attorney is so crucial. Without a good defense and an experienced lawyer, these charges can be devastating and the penalties can pile up. The man once had a stake in two high-profile hotels in Chicago as well as projects elsewhere. He was a major player in the hotel market in Chicago nearly a decade ago when he developed the concept of turning condos into hotels; investors bought individual rooms and got a share of the rent when they weren't using the rooms. The concept is popular in resort destinations, but has failed in other parts of the country, the newspaper reports. The man's defense attorney says that the man never filed tax returns for 2004, 2006 and 2007 — the years mentioned in the charges he faces — because he didn't have access to records from his former company. A former employee allegedly delivered the records to federal authorities. The attorney says that once those records are reviewed, it will show the man owes little or nothing to the government. He awaits a detention hearing — where attorneys argue whether or not he should be granted a bond and be released from custody pending trial. He has pleaded not guilty to the three charges of tax evasion for the three years in question. He faces up to five years in prison and up to $250,000 in fines per charge. As the man's attorney says, sometimes the government makes mistakes. While the public believes that when charges are filed it implies guilt, that's simply not the case. The prosecution must prove the charges beyond all reasonable doubt. And in these complex tax evasion cases, especially those involving businesses or businesses that are now defunct and closed down, the case is even more difficult to prove. In a business setting, many people are often involved in the company's financial affairs, so to single out one person as responsible may not be equitable. The newspaper article states that the developer has faced other legal problems in recent years, which probably also peaked the interest of federal investigators. Investigators and prosecutors sometimes make some assumptions and filed charges to support their theories. This complex area of criminal law requires experience and knowledge that comes from years of handling similar cases. A good Miami Tax Defense Attorney knows the tricks used by prosecutors and the way IRS investigators think and operate. Use these skills to your advantage and apply them to your case.

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One Response to Miami Beach Condo-Hotel Developer Indicted on Tax Evasion Charges

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