Again, this is Candy Evans's beat -- why, just today she noted over on D's DallasDirt that the former manse of Eleanor and Nicky Sheets is selling at half off the original asking price after it failed to move at an IRS auction in February. Nevertheless, this just in from the U.S. Attorney's Office: Eleanor Mowery Sheet has pleaded guilty to four counts of failure to pay income taxes. That's three more counts than Nicky copped to on March 1.
The high-tone Realtor now faces a maximum statutory sentence of four years in prison and a $400,000 fine. "In addition," says the press release, "she agrees to pay restitution for all criminal conduct
relating to the offense charged in the criminal information, including,
but not limited to unpaid taxes and any costs associated with her
prosecution."
Again, I'd recommend the D cover story about the former power twosome for the whole back story if you're so inclined. The U.S. Attorney has the accounting on the other side. Eleanor is due to be sentenced in October; Nicky, who was to be sentenced this week, won't know his fate till August.
DALLAS REALTOR ADMITS FAILING TO PAYFEDERAL INCOME TAXES
Eleanor Mowery Sheets Faces Up to Four Years in Federal Prison
DALLAS - Eleanor Mowery Sheets pleaded guilty this morning before U.S. Magistrate Judge Paul D. Stickney to a criminal information charging four counts of failure to pay income taxes, announced U.S. Attorney James T. Jacks, of the Northern District of Texas. She faces a maximum statutory sentence of four years in prison and a $400,000 fine. In addition, she agrees to pay restitution for all criminal conduct relating to the offense charged in the criminal information, including, but not limited to unpaid taxes and any costs associated with her prosecution. The Court shall determine the amount of restitution to be paid. Sentencing is set for October 12, 2010, before Judge Stickney.
Her husband, John Nicholas Sheets, aka "Nicky," pleaded guilty in March 2010 to one count of tax evasion. He faces a maximum statutory sentence of five years in prison, a $250,000 fine and restitution. His sentencing is set for August 12, 2010, before U.S. District Judge Jane J. Boyle.
The plea documents state that Eleanor Sheets is a licensed realtor who has lived and worked in the Dallas area for several years. Since 1996, she and her husband have successfully worked as real estate agents and have established multiple closely-held corporations, including, EMS, Inc., E-Residential, LLC and Dallas EMS, LLC, to conduct real estate business. During tax years 2003 through 2007, Eleanor and Nicky Sheets lived in a home, with a market value in excess of $1.3 million, in the Preston Hollow area of Dallas. That home has since been seized by the IRS.
According to the plea documents, Eleanor Sheets admitted that she willfully failed to pay both individual income and corporate taxes during tax years 2003 through 2007.
For tax year 2003, Sheets filed a personal income tax return and self-assessed a $54,480 income tax debt, that she did not pay.
For tax year 2004, Sheets failed to pay employment taxes to the IRS of $4,581.
For tax year 2005, Sheets filed a personal income tax return and self-assessed a $29,651.46 income tax debt, that she did not pay. For that same tax year, she admitted that she also failed to pay $14,659.62 in employment taxes owed to the IRS by EMS, Inc.
For tax year 2006, Sheets filed a personal income tax return and self-assessed a $33,743 income tax debt, that she did not pay. For that same tax year, she admitted that she also failed to pay $67,763.80 in employment taxes owed to the IRS by EMS, Inc.
For tax year 2007, Sheets filed a personal income tax return and self-assessed a $130,611.50 income tax debt, that she did not pay. For the same tax year, she admitted that she also failed to pay $26,167.31 in employment taxes owned to the IRS by EMS, Inc.
In addition, Sheets stipulated that the total tax loss attributable to her for all tax years (1997, 1998, 1999, 2003, 2004, 2005, 2006 and 2007) is approximately $1.3 million.
The case is being investigated by IRS-Criminal Investigation and prosecuted by Assistant U.S. Attorney Rick Calvert.
