Walnut Creek CPA Arrested On Federal Charges

SAN FRANCISCO, CA — Walnut Creek resident Marc Howard Berger has been indicted by a federal grand jury in San Francisco on charges of aiding and assisting in the preparation of false tax returns. He was arrested Monday morning and made an initial appearance in federal court in San Francisco. He pleaded not guilty and has been released on bond. Berger’s next scheduled appearance is Oct. 3.

If convicted, Berger faces a maximum of three years in prison.

According to the U.S. Dept. of Justice, Berger was indicted with G. Steven Burrill of San Francisco. Burrill is charged with wire fraud, investment-adviser fraud, and tax evasion in connection with an alleged scheme to siphon money from an investment fund. It's alleged that Berger prepared tax returns in which Burrill failed to report income he received from the scheme.

The Justice Department states in a release, "According to the 34-count indictment, Burrill was the owner and CEO of Burrill & Company (B&C) and a number of related entities. Through the entities, Burrill allegedly managed investment funds, including Burrill Life Sciences Capital Fund III, L.P. (the Fund), an investment fund focused on the life sciences industry. The Fund was comprised of total committed capital of approximately $283 million, most of which, according to the indictment, was committed by limited partners. The indictment alleges that Burrill induced limited partners to contribute capital to the Fund with false and misleading letters. In addition, the indictment alleges Burrill caused the Fund to transfer millions of dollars in management fees to companies he controlled; the money was in excess of the management fees that were due and allowable under the agreements that governed the Fund. Further, the indictment alleges Burrill filed false and fraudulent U.S. Individual Income Tax Return, Forms 1040, which understated his income by excluding money Burrill transferred out of the Fund and into accounts he controlled."

Burrill is scheduled to make his initial appearance on October 2, 2017. If convicted, Burrill faces a maximum of 20 years in prison and a fine of $250,000 or twice the gross gain for each count of wire fraud; five years in prison and a fine of $250,000 for investment-adviser fraud, and five years in prison and a $250,000 fine for tax evasion.

— Bay City News; Image via Shutterstock

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