DELRAY BEACH, Fla. — A Florida man who operated in Mississippi pleaded guilty to a tax shelter scheme.
Stephen T. Mellinger III, of Delray Beach, admitted to orchestrating a nearly decade-long scheme to promote an illegal tax shelter and commit wire fraud. He also pleaded guilty to assisting in the preparation of false tax returns for tax shelter clients.
According to court documents and statements made in court, Mellinger was a financial advisor, insurance salesman, and securities broker operating in Florida, Michigan, Mississippi, and elsewhere. Beginning in late 2013, he conspired with others to promote an illegal tax shelter that allowed clients to claim false tax deductions for so-called “royalty payments” to fraudulently reduce their taxes…