Denver businessman is in big trouble with the IRS

A Denver businessman is in trouble with the Internal Revenue Service, which alleges he didn't pay about a half million dollars in taxes.

Christopher Paul Kelly, 49, of Denver, was indicted this month for tax evasion. The government alleges that Kelly, who owned parts of various merchant card service companies that sold vendors the ability to accept credit card payments, skirted paying his tax bill for the past nine years.

"Instead of paying his outstanding tax liabilities, between 2008 and 2015, Kelly purchased or leased expensive automobiles and rented expensive homes as his personal residence," including an $80,000 Mercedes-Benz automobile bought by a friend for Kelly, the government said in a statement.

When the IRS contacted Kelly about his tax liabilities, the government alleges that he used his girlfriend's bank account instead of his own, so the IRS couldn't access his money, and he also "cashed out the entire value of his life insurance account and withdrew the balance of his 401(k) account, removing the IRS’ ability to place a levy on these assets," the government continued.

Read more at the Denver Business Journal: http://bit.ly/2sUZWY0

Copyright 2017 Denver Business Journal


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