Financier charged with obstructing tax laws
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Financier Michael Carlow was charged today with corruptly obstructing tax laws, and a guilty plea hearing on the new charge is set for tomorrow at 1 p.m. before U.S. District Judge David S. Cercone.
Prosecutors wrote in a criminal information that Carlow diverted money from companies that he helped form or held a secret interest in to his girlfriend's bank account under the guise that she had done management or consulting work for them, when Carlow had done the work instead.
Prosecutors also wrote that Carlow used funds belonging to one company for "his personal purposes," omitted part of his gross income on individual tax returns filed in 2003 through 2006 and failed to file individual tax returns in 2008 through 2011.
Carlow was sentenced in 1996 to eight years in prison after he pleaded guilty to bank fraud, conspiracy to defraud the Internal Revenue Service and filing false tax returns.
First Published January 3, 2013 10:19 pm