US Businessman Jailed for Using Bank of Nevis Account in Tax Evasion Scheme

ImageBank of Nevis

Robert C. Sathre was sentenced today to serve 36 months in federal prison for tax evasion by U.S. District Judge Alan B. Johnson in Cheyenne, Wyoming, the Justice Department and Internal Revenue Service (IRS) announced.  Sathre was also ordered to pay $3,113,882 in restitution to the IRS and to serve three years of supervised release.  Sathre pleaded guilty on Feb. 26, 2014, to willfully evading the payment of his 1995 and 1996 tax liability.


According to court documents and proceedings, Sathre sold a Minnesota business and received installment payments in 1995 and 1996 of more than $3 million.  Sathre concealed his income by filing a 1995 tax return in which he reported only $64,928 in total income.  Sathre then purchased land and set up another business, a gas station and convenience store in Sheridan, Wyoming, known as the Rock Stop.


According to court documents and proceedings, Sathre concealed assets by opening a foreign bank account in the Caribbean island of Nevis and by using purported trusts.  In a 10 month period spanning from 2005 through 2006, Sathre sent over $500,000 to the account in Nevis to keep the funds out of reach from the IRS.  When Sathre sold the Rock Stop in 2007, he wired over $1,250,000 from the sale proceeds to the trust account of a Wyoming law firm.  He later directed the law firm to wire $900,000 from the trust account to his account at the Bank of Nevis.  Sathre also provided a false declaration and false promissory note to the Bank of Nevis to conceal the source of this transfer and obtained a debit card linked to the foreign account to access funds locally.  In addition, Sathre provided the Bank of Sheridan with an IRS form on which he falsely claimed that he was neither a citizen nor a resident of the United States.


This case was investigated by special agents of IRS – Criminal Investigation.  Trial Attorneys Ellen Quattrucci and Ignacio Perez de la Cruz of the Justice Department’s Tax Division prosecuted the case.

According to the indictment, the Sathres used sham trusts to try to conceal their ownership of real estate in Sheridan and in Hennepin County, Minn.


Bryan Skarlatos, a criminal tax attorney at Kostelanetz & Fink in New York, said it is unusual for an indictment to be based on actions so far in the past. “The government could do it in this case because the conspiracy charge allows them to pull old actions into current charges,” he said.


He added, “Many people use Caribbean accounts to hide money, and the IRS is now focusing on the region.” In late April, a federal court allowed the IRS to serve a “John Doe” summons seeking information about U.S. taxpayers who may hold secret offshore accounts at Canadian Imperial Bank of Commerce, FirstCaribbean International Bank.



1 Comment on US Businessman Jailed for Using Bank of Nevis Account in Tax Evasion Scheme

  1. In the United States a person has to pay taxes if they are liable . Yet to date there is nothing on record as to what makes a person liable . These blood sucking maggots called the IRS and these sell out (traitor) politicians that keep us in a socialistic economy need to go to jail before a man that had income tax evasion . Personally I think all Americans have had enough if these maggots , and I for one will be the first man holding a gun when the us citizens finally revolt and overthrow this government

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