Former Lewiston, N.Y. Financial Advisor Indicted for Tax Fraud

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WASHINGTON, Dec. 13 /U.S. Newswire/ -- A federal grand jury in Buffalo, N.Y. indicted tax and financial advisor Richard A. Muto for his involvement in a tax fraud scheme that cost the Treasury at least $1.9 million in taxes, the Department of Justice and the Internal Revenue Service (IRS) announced today. The two-count indictment charges the defendant with attempting to obstruct the administration of the internal revenue laws and filing a false federal income tax return for 1998.

The indictment alleges that Muto, a former resident of Lewiston, N.Y., promoted and sold schemes that fraudulently reduced or eliminated clients' federal income tax liabilities. The indictment further alleges that Muto personally used the scheme to fraudulently reduce his own income tax liability. Initially, Muto promoted and sold tax fraud schemes marketed by American Asset Protection, an entity based in Palm Beach County, Fla. Later, he promoted and sold tax fraud schemes marketed by The Aegis Company (Aegis), which is based in Palos Hills, Ill.

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Former Lewiston, N.Y. Financial Advisor Indicted for Tax Fraud

"Most people obey the tax laws -- they report their income to the IRS and pay the taxes due," said Eileen J. O'Connor, assista...

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