A federal grand jury in Los Angeles recently returned an indictment charging a California man with tax evasion.
According to the indictment, Edward Michael Greer, of Newport Beach, owned an insurance salvage company, Greer & Kirby Co. Inc.
From 2017 through 2020, Greer allegedly used the business’s bank accounts to pay for personal expenses, including payments to bookmakers Wayne Nix and Ken Arsenian to cover sports gambling losses, and to purchase a 2021 Mercedes Benz.
The indictment further alleges that Greer concealed these personal payments in the business records and in many cases, directed the payments to be recorded as business expenses to reduce its income.
Wayne Nix and Ken Arsenian previously pleaded guilty for their roles in operating an illegal sports gambling business.
If convicted, Greer faces a maximum penalty of five years in prison for each count of evasion.
A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
