U.S. Attorney Jesse A. Laslovich | U.S. Department of Justice
The owner of a business previously operating in Belgrade, Guy S. Cook, admitted to failing to pay federal income taxes, as announced by U.S. Attorney Jesse Laslovich. Cook, aged 59 and residing in Dripping Springs, Texas, pleaded guilty to tax evasion charges.
Cook could face a maximum sentence of five years in prison, a $100,000 fine, and three years of supervised release. U.S. Magistrate Judge Kathleen L. DeSoto presided over the plea hearing while sentencing will be scheduled before U.S. District Judge Dana L. Christensen. The court will consider the U.S. Sentencing Guidelines and other factors before deciding on any sentence for Cook who was released pending further proceedings.
According to court documents, between January 2014 and November 18, 2021, Cook attempted to evade paying income taxes for the years 2014 and 2015 while owning Bacterin International Inc., which developed clinical medical laboratories. In 2014, he sold his shares in the company resulting in capital gains of $2,467,176 but failed to pay due taxes amounting to $604,574 for 2014 and $39,310 for 2015 despite being advised by his tax preparer.
Between 2017 and 2021, Cook allegedly took measures to avoid his tax obligations by using business bank accounts and a company credit card for personal expenses exceeding $300,000; utilizing nominee bank accounts to withdraw more than $380,000 from his business for personal use; and converting over $600,000 from his salary into stock within his business.
The case is being prosecuted by the U.S. Attorney’s Office following an investigation conducted by IRS Criminal Investigation.
