A Texas man, convicted in 2023 for dodging over $1 million in taxes on foreign earnings, will endure 41 months behind bars and shell out $1.3 million in fines and restitution, as ruled by a Texas federal court.
Man Gets 41 Months, Will Pay $1.3M For Foreign Tax Evasion: Facing the Consequences
The verdict, delivered Monday to Peter Joseph Tignini, matches the request from federal prosecutors, aiming to send a resounding warning after Tignini’s repeated attempts to deceive authorities.
“Tignini’s illicit deeds spanned over six tax years and were methodically orchestrated,” stated the U.S. in its January sentencing brief. “Motivated by greed, he deceived law enforcement.”
Man Gets 41 Months, Will Pay $1.3M For Foreign Tax Evasion: Prosecution’s Stance
Prosecutors argued that the 41-month sentence mirrors the severity of evading over $1 million in taxes, penalizes Tignini for his “devotion to criminality,” and acts as a deterrent against others concealing crimes from the IRS.
Man Gets 41 Months, Will Pay $1.3M For Foreign Tax Evasion: Unveiling the Scheme
Tignini had been employed in the United Arab Emirates and Qatar from 2013 to 2018, as disclosed by the U.S. Department of Justice. Accumulating $4.8 million in foreign income, he stashed it in offshore bank accounts, the DOJ revealed.
Deceptive Tactics Unveiled
Underreporting his annual income to approximately $100,000 a year, near or below the foreign earned income exclusion, Tignini failed to file his 2018 return, causing a staggering $1.2 million tax loss to the IRS, according to the government.
The Web of Deceit
When IRS agents reached out to him, Tignini resorted to an online application to falsify his employment contract and payroll documents, shifting the blame to his former employer for tax matters, stated the DOJ.
Calculated Misdeeds
The U.S. emphasized that Tignini’s actions were not impulsive but calculated decisions by a seasoned professional who believed himself immune to the law.
Silence Prevails
Despite numerous attempts, representatives of the U.S. government and Tignini remained tight-lipped, declining any comments on the matter.
Legal Representation
The U.S. is represented by Adam L. Goldman of the U.S. Attorney’s Office for the Southern District of Texas, along with Sean P. Beaty and Brian E. Flanagan from the U.S. Department of Justice, Tax Division.
