DETROIT (AP) -- An Oakland County dentist has pleaded guilty to setting up a sham trust that helped him avoid paying taxes on more than $1 million in income.
U.S. Attorney Barbara McQuade said Tuesday in a release that 59-year-old Michael Hennessy of Lake Orion pleaded guilty to one count of tax evasion.
Hennessy owned Clarkston Family Dentistry in Clarkston, about 30 miles north-northwest of Detroit.
Court records indicate that in 2000 Hennessy set up a bank account in the name of Plus One Enterprises, which was a trust that helped him evade taxes.
Authorities say in 2002 Hennessy falsely told IRS agents that he had no control over the trust account. They say Hennessy failed to report more than $1.1 million in taxable income between 2000 and 2003.
Published: Thu, Jan 20, 2011
