The Justice Department issued the following statement.
A Mississippi State Representative pled guilty to willfully making a false material statement on a federal income tax return, announced U.S. Attorney Darren J. LaMarca and Special Agent in Charge James Dorsey of IRS Criminal Investigation’s Atlanta Field Office.
Earle S. Banks, Sr., 68, pled guilty today in U.S. District Court in Jackson. According to admissions by Banks, he failed to report more than $500,000 of income resulting from the sale of real property. Banks admitted that he was aware of his legal duty to report that income, and instead willfully failed to report that income to the IRS on a 2018 Form 1040X tax return. Banks also admitted that the United States Attorney’s Office has sufficient evidence to convict him at trial if he had decided to go to trial instead of pleading guilty. It is against federal law to intentionally file false income tax returns which deliberately report less income than a person actually received.
Banks is scheduled to be sentenced on August 21, 2023 and faces a maximum penalty of three years in prison. A federal district judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The IRS is investigating the case.
20 comments:
Had to do speak in front of a committee of the legislature a number of years ago. This guy was a total asshole making accessory statements to everyone speaking at the hearing. I guess I understand now that he might have had his own reasons for thinking other people are dirty. :-)
ooops!
Many years ago Isaac Byrd was charged with failing to file tax returns….a misdemeanor as it turns out.
Earl should have just not filed and he’d a skated
He thought he could “bury” it! 😂😂😂
For those in the back row…google his name
@5:00 PM - Was he an "accessory" after the fact?
But I thought Rob McDuff said it was just a mistake. Wonder how much Mr McDuff made on this plea
Income taxes are illegal. No harm, no foul.
Cheating - that what dem politicians do. They can't help themselves.
When are the Feds going to follow suit with his cousin?
Not saying how he was caught. Interesting
Has AL Sharpton paid his back taxes?
Shocker
Before all the armchair lawyers start wondering why the Bar is dragging its feet on getting Mr Banks debarred, here are the facts on disbarring lawyers convicted of a felony. First, the Bar has to present a certified copy of the conviction order to the Supreme Court. The federal judge has to issue it and the order is not prepared until after actual sentencing. That may be months from now. Then, the Bar has to file a new pleading with the court and Mr Banks has thirty days to answer. After that, the Court puts the case on its regular docket meaning Mr Banks has another 6-9 months before they enter an opinion and judgement of disbarment.
Bottom line is that Mr Banks will be an active member of the Bar in good standing while he sits in jail for several months. Blame the Supreme Court not the Bar when this happens. They make the rules.
So, does he have to leave the legislature or not? Haven't seen anything about that?
Good riddance. Wealthy assholes who scam their way out of paying taxes are the absolute worst. I wish the IRS would be more stringent in enforcing the laws on the upper class.
That Banks family---
There's a difference between tax avoidance and tax evasion, like between clipping coupons and theft, a prudent taxpayer and a shyster.
I am no expert, but selling real estate at a $500k profit and then failing to report it seems like a . . . terrible strategy. Easily proven. Very likely to get caught. Huge paper trail, everywhere, anyone could look up on google what the property sold for (no private investigator needed).
Am I missing anything? How in the world is this anything but a massively stupid, amateurish, certain-to-get-caught situation???
But he represents a poor district, don't he get a pass for that?
@12:40-please show us where on Goggle you can find what a property sold for since Mississippi is a non-disclosure state.
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