Three from Central Valley accused of tax evasion
April 10, 2009 12:04am
• A chiropractor, a businessman and a wife
• Evaded $1.3 Million in taxes, government says
A federal grand jury in Fresno has returned a seven-count indictment charging Vincent Steven Booth, 52; Louise Q. Booth, 49, both of Bakersfield, and Michael S. Ioane, 48, of Atwater, with conspiracy to evade the payment of taxes, three counts of tax evasion, and four counts of presenting a fictitious instrument to the Internal Revenue Service.
Mr. Booth, a chiropractor who owns San Joaquin Wellness and Medical Group, his wife Louise and Mr. Ioane conspired together to evade the payment of over $1.3 million in taxes from 1995 to the present, according to Assistant U.S. Attorneys Mark Cullers and James Terzian, who are prosecuting the case.
According to the indictment, they created sham trusts, filed bogus liabilities against the Booths’ properties to impede the IRS in its collection efforts, submitted so-called “Bills of Exchange” to the IRS in an effort to erase the tax liability and created frivolous deed transfers of the properties to keep them out of the reach of the IRS.