Consultant pleads guilty to tax evasion in tax credit case
SALEM, Ore. (AP) — A Seattle-based energy consultant has pleaded guilty to evading income taxes on the $1.3 million in commissions he collected from brokering tax credits with the help of a former manager at the Oregon Department of Energy.
The Oregonian/OregonLive reports Martin Shain entered the guilty plea Wednesday in Marion County Circuit Court. He also pleaded no contest to forgery, bribery, racketeering and grand theft charges.
His agreement with prosecutors includes a recommended sentence of four to five years in prison and restitution of $2.2 million. Sentencing is set for July.
Shain’s partner in the scheme, former agency employee Joe Colello, was sentenced in April to five years in prison for accepting $300,000 in bribes from Shain for helping arrange the sale of the energy tax credits. He also is serving a concurrent federal sentence on charges of money laundering and defrauding the Internal Revenue Service.
Information from: The Oregonian/OregonLive, http://www.oregonlive.com