Exeter chiropractor to plead guilty to tax evasion

Published: 2010-07-17 15:30:24
Author: Jennifer Feals | Sea Coast Online | April 15, 2010

CONCORD An Exeter chiropractor charged with federal tax evasion, bank fraud and knowingly filing false tax returns has reached a plea agreement with the federal government.

On Wednesday, April 14. Paul Loch who runs the Exeter Spine Clinic which has offices in Exeter and Newington agreed to plead guilty to the charge of tax evasion. In exchange for Loch's guilty plea on this count, and a successful prosecution, the state will dismiss the other charges against him, according to court documents.

Loch is alleged to have evaded payment of his individual income taxes for 1996 and 1997 by filing false amended returns, concealing from the Internal Revenue Service the nature and extent of his assets, placing funds and properties in other names and paying creditors instead of the government. Loch was also charged with failing to file returns from 1999 to 2004.

He was indicted and arraigned on the charges in April of 2009.

The agreement will be reviewed during a sentencing hearing in U.S. District Court on July 14.

According to the plea agreement, Loch could face a maximum prison term of five years with supervised release for not more than three years on the tax evasion offense. He could also face a maximum fine of $250,000 or twice or three times the gross amount of gain derived from the offense. Loch will also pay a $100 mandatory special assessment.

In addition to these penalties, Loch agrees to pay restitution to the IRS in an amount to be determined by the court at his sentencing.

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