The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
ST. LOUIS, Jan. 29 -- The U.S. Attorney for the Eastern District of Missouri issued the following news release:
Stephen B. Evans pleaded guilty to mail and wire fraud charges involving his failure to pay clients and expenses, and instead keeping client insurance money for himself.
According to court documents, between 2007 and 2012, Evans was a local attorney with a general practice, including the representation of people who were injured or had claims based on contract or negligence where he would enter into a contingent fee arrangement. Mr. Evans would receive a certain percentage of any successful settlement. When he prevailed on behalf of his clients, the insurance company would typically mail a check to Evans at his law firm address, Evans Partnership in St. Louis, payable to Evans and his client, which was deposited into Evans' bank account. On many occasions, he kept funds payable to his client and his client's expenses. The amount of money that Evans defrauded his clients is between $70,000 and $120,000.
STEPHEN B. EVANS, St. Louis County, pleaded guilty to one felony count each of mail and wire fraud before United States District Judge Jean C. Hamilton. Sentencing has been set for April 26, 2013.
Each count carries a maximum penalty of 20 years in prison and/or fines up to $250,000. In determining the actual sentences, a Judge is required to consider the U.S. Sentencing Guidelines, which provide recommended sentencing ranges.
The case was investigated by the United States Postal Inspection Service. Assistant United States Attorney John Bodenhausen is handling the case for the U.S. Attorney's Office.
TNS JF78JF-130130-4184988 EditorFurigay