Sheridan Couple Investigated for Tax Fraud

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Sheridan Couple Investigated for Tax Fraud

A couple in Sheridan is under investigation for hiding money in offshore bank accounts to avoid paying taxes. According to an article published last week in the Wall Street Journal, Robert Sathre claimed $64,000 in income in 1995, but had received an installment for selling a $3 million business that year. The next year he and his wife, Judy, put $1.4 million in a bank on the Caribbean island of Nevis.

The indictment from a federal grand jury in Cheyenne also alleges the Sathres concealed the source of their funds when they opened their Caribbean bank account to keep the money out of the reach of the IRS, but established a debit card to enable local access to the funds.

A media release from the U.S. Department of Justice indicates some of the tax-free funds were used to purchase land and construct The Rock Stop off of Interstate 90.

Mr. Sathre also allegedly told the Bank of Sheridan he was not a U.S. Citizen or resident.

If convicted of the charge of conspiracy and tax evasion, the couple faces a possible five years and $250,000 fine. Another charge for filing a false tax return carries a penalty of three years and another quarter million dollar fine.

*Editor's note: The Hyperlink to the Wall Street Journal article provided above prompts the reader to subscribe to view the article. The article can be viewed for free if access to the article is attempted a second time, or if a Google news search is performed for "Wyoming Couple Charged in Offshore Tax Case."

A media release from the U.S. Department of Justice is here.

Carrol Realty
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