LOS ANGELES — An Orange County man has been indicted on federal charges that he committed tax evasion by deducting millions of dollars in gambling losses and other personal expenditures as business expenses.
Edward Michael Greer, of Newport Beach is charged with four counts of tax evasion, the U.S. Attorney’s Office said Monday.
According to the indictment, Greer owned an insurance salvage company, the La Mirada-based Greer & Kirby Co. Inc. From 2017 to 2020, Greer allegedly used the company’s bank accounts to pay for personal expenses, including payments to bookmakers Wayne Joseph Nix and Ken Arsenian to cover sports gambling losses, and to purchase a 2021 Mercedes-Benz automobile, court papers show.
The indictment further alleges that Greer concealed these personal payments in the company’s business records, and in many cases directed to payments to be recorded as business expenses to reduce the company’s income.
Nix and Arsenian previously pleaded guilty in L.A. federal court for their roles in operating an illegal sports gambling business and are expected to be sentenced in the coming months.
Related Articles
‘Anti-poverty advocate’ arrested in alleged fraud that cost investors $145 million, federal prosecutors say
2 arrested in $10 million Southern California elder fraud scheme targeting 100 victims
CalOptima rescinds support of senior health center because of fraud concerns with ‘affiliate’
Dodgers star Shohei Ohtani’s ex-interpreter sentenced to 4 years, 9 months in sports betting case
Irvine couple allegedly defrauded local company of nearly $5 million