WASHINGTON, D.C. – June 22, 2015 – (RealEstateRama) — A Berwyn Heights, Maryland, resident was indicted by a grand jury sitting in Greenbelt, Maryland, on four counts of failure to file federal individual and corporate federal income tax returns, Acting Assistant Attorney General Caroline D. Ciraolo of the Justice Department’s Tax Division announced today.
David J. Simard purchased and sold real estate in the Maryland and Virginia areas, according to the superseding indictment filed in the District of Maryland. Simard failed to file income tax returns for tax years 2006 and 2009, and failed to file corporate tax returns for tax years 2009 and 2010. According to the superseding indictment, Simard was the owner, operator and president of Pegasus Home Corporation. From 2009 through 2010, Pegasus sold more than 100 real estate properties.
If convicted, Simard faces a statutory maximum penalty of one year in prison and a $100,000 fine for each count.
Acting Assistant Attorney General Ciraolo commended the special agents of IRS-Criminal Investigation, who investigated the case, and Trial Attorneys Christopher O’Donnell and Michael Vasiliadis of the Tax Division, who are prosecuting the case.
An indictment merely alleges that crimes have been committed. A defendant is presumed innocent until proven guilty beyond a reasonable doubt.
Additional information about the Tax Division and its enforcement efforts may be found on the division’s website.