Maryland Real Estate Businessman Indicted for Failing to File Income Tax Returns

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2015-06-22

A Berwyn Heights, Maryland, resident was indicted by a grand jury sitting in Greenbelt, Maryland, on four counts of failure to file federal individual and corporate federal income tax returns, Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division announced on June 19.

David J. Simard purchased and sold real estate in the Maryland and Virginia areas, according to the superseding indictment filed in the District of Maryland. Simard failed to file income tax returns for tax years 2006 and 2009, and failed to file corporate tax returns for tax years 2009 and 2010. According to the superseding indictment, Simard was the owner, operator and president of Pegasus Home Corporation. From 2009 through 2010, Pegasus sold more than 100 real estate properties.

If convicted, Simard faces a statutory maximum penalty of one year in prison and a $100,000 fine for each count.

Source: U.S. Department of Justice

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