Michael Shvo, a showy real estate developer based in New York City, has mastered the artful tactics of selling showy condos to showy buyers. As it turns out though, his tax evasion may be even more artful.
[:53] Michael Shvo is a real estate developer who sells showy condos to showy buyers, using theatrical tactics.
[1:30] Michael is also a noted art collector, paying millions for condos and houses, and stuffing them full of his art pieces and treasures.
[2:10] Even though Michael Svho likes buying ‘shvo-y’ stuff, he doesn’t like to pay tax on it. In 2016, a district attorney indicted Shvo on 28 counts of criminal sales tax fraud.
[2:50] Michael Shvo dodged more than a million dollars in state and local taxes through several ornate ruses.
[4:00] The guilty plea calls for Svho to pay $3.5 million in taxes, penalties, and interest.
[4:30] You don’t have to cheat to pay less, you just have to call us at Financial Gravity.