Former Utah CEO Sentenced to Prison for Tax Evasion | WPN World People News

A former CEO of a Salt Lake City, Utah, company was sentenced to 12 months and 1 day in prison for tax evasion, on February 28, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney John W. Huber for the District of Utah.

Peter Nordberg, 62, of Alameda, California, pleaded guilty in September 2017 to tax evasion. According to court documents, Nordberg was the Chief Executive Officer of Max International, a company that produces and markets nutritional supplements directly and through independent associates and distributors. As an employee of Max International, Nordberg earned a salary and commissions equal to a percentage of sales. Nordberg caused Max International to pay his bonus income to a nominee entity he established, and used a bank account in the name of the nominee entity to pay personal expenses. Nordberg concealed the bonus income and nominee entity from his return preparer and filed false tax returns with the Internal Revenue Service (IRS) that underreported his income. Nordberg’s conduct caused a tax loss of approximately $275,000.

In addition to the term of prison imposed, U.S. District Court Judge Dee Benson ordered Nordberg to serve 1 year of supervised release and to pay $354,770 in restitution to the United States Treasury.

Source: U.S. Department of Justice