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Source

Earlier reporting on UnjustIS

US Department of Justice

 

ENGLISH LAWYER SENTENCED IN CONNECTION WITH TAX FRAUD SCHEME
Orchestrated by former National Revenue Corporation Executive



October 25, 2004

United States Attorney's Office
Southern District of Ohio
303 Marconi Boulevard - Suite 200
Columbus, OH 43215

Tel: 614.469.5715
Fax: 614.469.2200
FOR IMMEDIATE RELEASE
COLUMBUS - Jeremy Alfred Franks, 52, formerly a Solicitor from London, England, was sentenced today to five years of probation and ten months of home confinement for his role in a conspiracy by Richard Schultz to hide millions of dollars from the IRS and his creditors.

Gregory G. Lockhart, United States Attorney for the Southern District of Ohio, and Cromwell A. Handy, Special Agent in Charge, Internal Revenue Service Criminal Investigation, announced the sentence handed down by United States District Judge Algenon L. Marbley.

Franks had pleaded guilty in September 2002 to conspiring with Schultz and others to defraud the United States by impeding and impairing the Internal Revenue Service through concealing Schultz's money in offshore bank accounts.

At his plea hearing in 2002, Franks admitting setting up offshore corporations to hide Schultz's money and transferring Schultz's funds back to the United States disguised as loans to corporations controlled by other Schultz co-conspirators. Franks also admitted helping Schultz in 1995 disguise his personal legal expenses as business expenses so that those personal expenses would be paid by National Revenue Corporation. At the time, Schultz was the President and Chief Executive Office of National Revenue Corporation, a Columbus-based collections agency.

Franks is the tenth Schultz co-conspirator and fourth lawyer sentenced in the case. A Cleveland lawyer, Martin W. Elson, is the last Schultz co-conspirator waiting to be sentenced. No date has been set for his sentencing.

Lockhart commended the agents of the IRS Criminal Investigation Division and the Bureau of Immigration and Customs Enforcement agents who investigated the case, and Justice Department Trial Attorney Mark Yost, who is prosecuting the case.

For additional comment contact Fred Alverson, Public Affairs Officer at 614.469.5715. The Internet address for the homepage for the United States Attorney's Office for the Southern District of Ohio is www.usdoj.gov/usao/ohs.

 

 

 

 

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