Jacksonville businessman and millionaire indicted, accused of evading nearly $2M in taxes

[Pelican Press 0]

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Jacksonville businessman and millionaire indicted, accused of evading nearly $2M in taxes

Jacksonville businessman Phillip Mak was indicted by a federal grand jury Wednesday, facing charges of evading nearly $2 million in taxes.

According to the Florida Department of State, Mak is President of Fairway Action Inc.

The Department of Justice says Mak earned around $10.3 million from 2008 to 2020, and is accused of not paying any federal taxes and only filing tax returns for two of those years.

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The indictment says he also worked as a sales representative and an independent contractor for businesses during that time.

The IRS allegedly assessed about $1.92M in outstanding taxes, penalities and interest against Mak. Prosecutors claim that, instead of paying what he owed, Mak tried to shield his assets from the IRS by transferring $1M in cash to his domestic partner’s bank accounts.

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In addition, the indictment alleges that in 2020, after being interviewed by IRS investigators, Mak transferred ownership of his Neptune Beach home to his partner’s trust.

If convicted, Mak faces a maximum sentence of five years in prison for tax evasion and a maximum sentence of one year in prison for each charge of failure to file a tax return and failure to pay tax.

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#Jacksonville #businessman #millionaire #indicted #accused #evading #taxes

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