Minnesota CEO Charged In $6 Million Tax Evasion Case
Minneapolis (KROC-AM News) - A Minnesota CEO has been charged with tax evasion for allegedly failing to pay over $6 million in payroll taxes.
68-year-old Larry Lindberg is a pharmacist and the CEO of Midwest Medical Holdings. Prosecutors said that despite being aware of his company’s tax obligations, Lindberg failed to pay several hundred thousand dollars in federal payroll taxes each quarter over several years.
Beginning in 2011, the IRS spent years attempting to collect on the tax debt. Prosecutors said the Mounds View man entered into several installment agreements with the IRS in which he agreed to make regular payments towards the tax debt, but failed to make the payments and defaulted on each of the agreements.
Prosecutors said Lindeberg diverted funds and assets to other business entities he controlled in an effort to evade paying the tax debt. In total, Lindberg and Midwest Medical Holdings owe more than $6 million in federal income taxes.
Lindberg is scheduled to make his initial appearance in federal court on April 21st.