John D. Kane, brother of former Limerick supervisor David was sentenced to a year’s jail after he admitted to tax evasion and bank fraud. His brother David was also indicted in connection with the case. In sentencing, US District Court Judge Eduardo C. Robreno fned Kane $10,000 and ordered him to pay $94,821 in restitution to the IRS.
In the indictment, authorities allege that John helped his brother David obtain loans from Harleysville National Bank, Bank of America and Chase Home Finance. In 2001, David allegedly purchased his primary residence on Bragg Road in Schwenksville. But he was not qualifed to obtain a mortgage on the property so he got his brother John to make a false claim as the purchaser and owner of the property. This was done to prevent the IRS from seizing the property to pay off past unpaid taxes. As at July 2006, David had not paid more than $600,000 in taxes, interests and penalties. What’s more he had not submitted tax returns since 1998.
Please see full article below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.