A San Rafael man has been indicted by a federal grand jury in San Francisco on five counts of evading taxes for the years 2002 through 2006.
Frank J. Laereman was indicted on Monday, according to U.S. Attorney Joseph Russoniello.
Separately, Laereman agreed in Alameda County Superior Court in August to a $3 million civil judgment against him for losses to a trust titled the Louis R. Laeremans Trust.
The civil stipulation signed by Laereman states that the $3 million loss to the trust was caused by embezzlement, misappropriation and/or breach of fiduciary duty committed by Laereman while serving as a trustee.
In the federal criminal case, Laereman is accused of falsely stating on federal tax returns for 2002 and 2003 that he had no income, and failing to file any returns for the years 2004 through 2006.
The indictment does not state the dollar amount of the alleged tax evasion and U.S. Attorney's Office spokesman Jack Gillund said he could not reveal it.
Gillund said no court date has been set for Laereman.
The tax evasion counts each carry a potential maximum sentence of five years in prison, but a judge would consider federal sentencing guidelines in determining the actual penalty if Laereman is convicted.
– Bay City News