Colorado supplement marketer pleads guilty to tax evasion

DENVER — A Monument man who operated multi-level nutritional supplement marketing business plead guilty Wednesday to one county of income tax evasion.

Craig Walcott took a series of steps to evade the payment of more than $450,000 for tax years 2005, 2006 and 2007, according to U.S. Department of Justice news release. Those included transferring properties to nominee entities, encumbering other properties with fictitious mortgages to conceal their equity, and filing false tax returns understating his income.  

Walcott did not file income tax returns for the years 2012, 2013 and 2014 and has agreed to pay the Internal Revenue Service nearly $629,000 in restitution.

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Sentencing is scheduled for Feb. 25, 2019. Walcott faces a maximum sentence of five years in prison.