A former chiropractic clinic chain executive has pleaded guilty to filing a false tax return related to an illegal tax shelter used to conceal nearly $1.3 million in taxes, the Justice Department said in a June 5 news release.
Stuart Bernsen, formerly of Westmont, Ill., was the former CEO and co-founder of a company that managed a network of more than 50 chiropractic clinics across the Midwest. Mr. Bernsen used a series of abusive trusts and a fraudulent charitable foundation to make it appear he had transferred ownership of his business entities, while maintaining control and using trust funds for personal expenses including real estate, credit card bills, a luxury vacation and a boat.
Mr. Bernsen pleaded guilty to one count of willfully filing a false tax return and faces up to three years in prison. Sentencing is scheduled for October 2.
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