Jacksonville investor Phillip Mak was charged by a federal grand jury on Wednesday for avoiding nearly $2 million in taxes.
The Florida Department of State states that Mak is the President of Fairway Action Inc.
The Department of Justice says Mak made about $10.3 million from 2008 to 2020. He is accused of not paying any federal taxes and only filing tax returns for two of those years.
The charges state that he also worked as a salesperson and an independent worker for businesses during that period.
The IRS is said to have claimed that Mak owes about $1.92 million in unpaid taxes, penalties, and interest. Prosecutors claim that, instead of paying what he owed, Mak tried to shield his assets from the IRS by moving $1M in cash to his domestic partner’s bank accounts.
The indictment also states that in 2020, after being questioned by IRS agents, Mak moved the ownership of his home in Neptune Beach to a trust belonging to his partner.
If found guilty, Mak could spend up to five years in jail for tax evasion and up to one year for each charge of not filing a tax return and not paying taxes.
Leave a Comment