A Florida man has been sentenced in federal court for attempting to evade taxes and committing bankruptcy fraud, according to an announcement from the U.S. Attorney’s Office in Bangor, Maine.
Paul Archer, 46, who previously lived in Hampden and Orrington, received a sentence of 24 months in prison and three years of supervised release from U.S. District Judge Stacy D. Neumann.
Court documents indicate that Archer operated a profitable online marketing business related to software installation between 2013 and 2015, generating several million dollars during that period. Following an IRS audit in 2016 that assessed him with roughly $1 million in tax debt for those years, Archer concealed assets by transferring them through two limited liability companies (LLCs) he controlled and by using third-party bank accounts to avoid paying the owed taxes.
Between April 2018 and November 2019, Archer moved funds through various accounts under the names Max Tune Up, LLC; Stealth Kit, LLC; his father; and his spouse. One account held by Stealth Kit, LLC was used to receive direct deposits of income as well as over $2 million in wire payments. Funds were also moved via cryptocurrency trading platforms and online payment systems. Additionally, Archer transferred an investment account from his own name into Stealth Kit, LLC’s name before engaging in trading activity involving stocks and receiving dividend or interest distributions. He also owned Bitcoin on two different exchanges—buying and later trading several hundred thousand dollars’ worth of cryptocurrency.
In March 2019, Archer filed for Chapter 7 bankruptcy protection. In his filings with the court—including petitions and schedules—he falsely claimed less than $50,000 in assets; listed only one checking account; denied having other property interests or recent asset transfers; and failed to disclose connections to any businesses or memberships in any LLCs. These false statements were repeated under oath at creditor meetings conducted by a Chapter 7 Trustee as well as before the U.S. Bankruptcy Court for the District of Maine.
The investigation was conducted by IRS Criminal Investigation agents along with the FBI.
