Federal Tax Evasion Charge For Monument Landlord

DENVER, CO -- A Monument multi-level marketing dietary supplement business owner and landlord faces charges of tax evasion after a federal grand jury returned an indictment Jan. 24 that was unsealed Feb. 9. Craig Walcott allegedly went through a series of fraudulent schemes and ploys to avoid paying $450,000 in taxes and penalties due from his 2005 through 2007 income taxes, and also failed to file his 2012-2014 personal tax returns, according to a statement from Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division.

Walcott allegedly filed fake tax returns underreporting his income. Walcott also allegedly tried to hide his properties in Colorado Springs, Canon City, Monument and Alaska by transferring property that he owned into the names of other entities, the charges say. He also allegedly created and filed fake documents with multiple county clerk offices to make it appear that properties he owned were encumbered by fictitious entities he owned, the indictment said. Walcott allegedly fired a property management company to block it from paying an IRS levy ordering that rent proceeds received by Walcott be paid to the IRS.

If convicted, Walcott faces a statutory maximum sentence of five years in prison on the tax evasion count and one year in prison on each of the failure to file counts, the statement from the Dept. of Justice said. He also faces a period of supervised release, restitution and monetary penalties.

Walcott appeared in Denver U.S District Courtroom of Magistrate Kristen L Mix Feb. 9 and was released on a personal recognizance bond. His next court date for an arraignment hearing is scheduled for Feb. 23.

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