Two Las Vegas men were sentenced to 37 months in federal prison for their role in a tax scheme that brought in $7 million, money they used for their personal benefit, announced the U.S. Department of Justice last week.
Michael Haynes, a practicing minister, was found guilty of conspiring to evade taxes in September 2008. David Jett pleaded guilty in March 2008.
According to the government, the two men orchestrated the sale of $7 million worth of stocks in a company called One Voice Technologies Inc.
Stock certificates in the name of One Voice were sold to at least five parties. The two men then had the parties sign a document claiming they lost their original stock certificates.
Haynes had the stocks, which were held at the Bank of Nova Scotia, sent to U.S. banks via checks and wire transfers. The two men used the money for their personal gain. Haynes failed to report the proceeds from the stock sales on his income taxes.