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Randallstown Man Indicted for Filing False Tax Returns
Failed to Report Income Totaling Over $415,000

U.S. Attorney’s Office March 27, 2012
  • District of Maryland (410) 209-4800

BALTIMORE—A federal grand jury has indicted Ricardo O. Curry II, age 42, of Randallstown, Maryland, on three counts of filing a false tax return.

The indictment was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Acting Special Agent in Charge Eric C. Hylton of the Internal Revenue Service-Criminal Investigation, Washington, D.C. Field Office; Special Agent in Charge Richard A. McFeely of the Federal Bureau of Investigation; and the Baltimore Office of the United States Trustee Program, the Department of Justice agency that supervises bankruptcy cases and trustees.

According to the indictment, Curry worked for Peerless Real Estate Services Inc., a North Carolina corporation that oversaw the sale of property in North Carolina, including the Village of Penland development, which contained more than 2,000 lots.

The indictment alleges that Peerless paid Curry commissions to market Penland to new investors. From November 2006 through May 2007,

Curry induced at least 12 investors to purchase 23 or more lots as investors in Penland, resulting in gross sales of at least $4.25 million.

Curry received a commission equal to five to 10 percent of Peerless’s proceeds for each lot purchased by investors Curry recruited, totaling $415,201.46.

The indictment alleges that during tax years 2005 through 2007, Curry received commissions of $41,455.36; $43,200; and $330,546.10, respectively.

Curry did not report this income on his federal tax returns in any of those three years.

For example, on his tax return for tax year 2007, Curry represented that his total income was $28,734, when in fact, the indictment alleges that his income from Peerless alone was at least $330,546.10.

Curry faces a maximum sentence of three years in prison for each of the three counts. An initial appearance has not yet been scheduled.

An indictment is not a finding of guilt. An individual charged by indictment is presumed innocent unless and until proven guilty at some later criminal proceedings.

United States Attorney Rod J. Rosenstein praised the IRS-CI, FBI, and U.S. Trustee’s Office for their work in the investigation. Mr. Rosenstein thanked Assistant United States Attorney Gregory Bockin, who is prosecuting the case.

source: FBI

David Saks

Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • March 28 2012 01:21PM


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