Cullen Fischel, a former chief financial officer of Associated Concepts Agency, is charged in federal court with conspiring to defraud the IRS. Fischel is charged by way of information, which typically signifies a defendant intends to plead guilty.
CLEVELAND, Ohio— A former top official at an Independence wealth-management company is accused of taking part in a scheme that provided a tax shelter for wealthy clients by making it look like they contributed to a charity to avoid paying hundreds of thousands of dollars in taxes.
Meyer has not been charged with a crime in the case. Meyer’s attorney, Jeffrey Neiman, declined comment. Fischel is now a paralegal at Walter Haverfield. Ralph Cascarilla, managing partner of the law firm, said in a statement he’s aware that charges have been filed. The scheme, according to court records, worked like this: Meyer instructed Fischel to set up a fake charity and instruct clients to create a limited liability company in their names. Clients deposited money in the LLCs and reported on their taxes that they donated money to the fake charity. They faked tax returns to show that the money was donated.
Meyer directed Fischel’s former boss at Associated Concepts to create a fake charity, according to the indictment.
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