This story was originally published on MyNorthwest.com
A 69-year-old Seattle real estate owner has been convicted of six counts of tax evasion and six counts of making false tax returns, the Department of Justice (DOJ) announced Monday.
Steven T. Loo reportedly failed to declare his income of more than $4.7 million on his tax returns. Loo also used “shell companies” and repeated transfers of funds to hide his income from the Internal Revenue Service (IRS).
Seattle real estate owner found guilty of tax fraud
According to court records, Loo had an ownership interest in and operated multiple commercial real estate properties in Washington and California. Loo had property management companies send the profits from the properties to two bank accounts he was in control of…