More Than $10 Million For Illegal Narcotics.
Adams Deposited Some Of The Checks Into His
Personal And Business Bank Accounts, And
Cashed The Remainder, Totaling Approximately
$5.3 Million, At A Local Liquor Store.
For tax years 2013 through 2016, Adams
caused his tax return preparer to prepare false business and individual tax
returns by providing the return preparer solely business bank records, knowing
that they did not reflect all of the illicit proceeds. In 2017 and 2018, during
an audit of Adams’s business and individual tax returns, Adams falsely told the
IRS that all income his business received was deposited into business bank
accounts and that 90% percent of the funds MDA Property Services received from
Company A through the buyer was for legitimate work, whereas Adams knew only
three percent was, in fact, business-related.
During the course of his criminal conduct, Adams
withdrew more than $1 million in cash of his illegal narcotics proceeds from
business bank accounts and also used funds to acquire real estate. In
addition, he spent over $1.25 million on private flights, golfing, jewelry,
gambling, court-ordered child support, hotel stays and to purchase a firearm.
Adams also bought a Cadillac Escalade, a Hummer and multiple classic cars.
Adams is scheduled to be sentenced on June 21, 2023
and faces a maximum penalty of three (3) years in prison for obstructing the IRS
and ten (10) years in prison for money laundering. He also faces a period of
supervised release, restitution, and monetary penalties. A federal district
court judge will determine any sentence after considering the U.S. Sentencing
Guidelines and other statutory factors.
Thinking Not Paying Your Taxes?
You Better Thank Again, if You Like Your Freedom!
Contact the Tax Lawyers at
Marini & Associates, P.A.