JACKSONVILLE, Fla. — A federal grand jury has indicted a Florida businessman on charges of tax evasion, failing to file tax returns, and failing to pay taxes, the U.S. Department of Justice has announced.
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Phillip Mak of Jacksonville is accused of evading nearly $2 million in federal taxes between 2008 and 2020. According to the indictment, Mr Mak earned approximately $10.3 million during that time but, except for two years, failed to file tax returns and did not pay any federal taxes.
The IRS reportedly assessed $1.9 million in outstanding taxes, penalties, and interest against Mak for multiple tax years.
Prosecutors allege that Mr Mak attempted to shield his assets by transferring $1 million in cash to his domestic partner’s bank accounts and transferring ownership of his home to his domestic partner’s trust after being interviewed by IRS investigators.
Additionally, he is said to have created a nominee entity and deposited his income into a bank account held in that entity’s name.
If convicted, Mr Mak faces a maximum sentence of five years in prison for tax evasion and up to one year in prison for each count of failing to file tax returns and failing to pay taxes.
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IRS Criminal Investigation is investigating the case. Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Roger B. Handberg for the Middle District of Florida announced the indictment.
The case is being prosecuted by Trial Attorneys Isaiah Boyd and Michael Jones of the Tax Division and Assistant U.S. Attorney John Cannizzaro for the Middle District of Florida.
An indictment is merely an allegation. All defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
