COLUMBIA, S.C. — This is an official press release from the U.S. Department of Justice (USAO - South Carolina), published as received.
COLUMBIA, S.C. — Dennis Wayne Brite, 72, of Aiken, was sentenced to probation pleading guilty to tax evasion. He also immediately paid more than $669,000 in back taxes and interest.
Evidence presented to the court showed that for nearly a decade, Brite used a complex scheme involving foreign shell companies and overseas banks to hide over $2 million of income from the Internal Revenue Service. IRS criminal investigators learned of the scheme when one of the overseas banks involved in the scheme, Euro Pacific Bank, became a target of a federal investigation.
United States District Judge Sherri A. Lydon sentenced Brite to probation after his payment of $669,249.86 for his back taxes and interest. Evidence introduced in court indicated that defendants do not typically repay the entire tax loss amount including the interest and that Brite had made extraordinary efforts to come into compliance with his taxes.
This case was investigated by the Internal Revenue Service Criminal Investigation. Assistant U.S. Attorney T. DeWayne Pearson is prosecuting the case.
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