OIG Investigative Reports, Press Release South Bend Indiana, March 29, 2011 - International Businessman James Simon Sentenced Skip to main contentAbout UsContact UsFAQs Language Assistance Englishespañol中文: 繁體版Việt-ngữ한국어TagalogРусский U.S. Department of Education Search for: Toggle navigation U.S. Department of Education Student Loans Grants Laws Data About ED OFFICES Home Reports & Resources Programs/Initiatives News Office Contacts Investigation Report United States Attorney David Capp Northern District of Indiana M01-204 S. Main Street South Bend, IN 46601 Hammond FOR IMMEDIATE RELEASE: March 29, 2011 www.usdoj.gov/usao/inn/ South Bend Fort Wayne Contact: Mary L. Hatton Phone: (219) 937-5500 Fax: (219) 852-2770 INTERNATIONAL BUSINESSMAN JAMES SIMON SENTENCED South Bend, IN—The United States Attorney's Office announced:James A, Simon, 60, of Huntertown, Indiana, was sentenced by Judge Robert Miller, Jr. to 72 months of imprisonment and 3 years of supervised release after being found guilty at trial of four counts of filing false federal income tax returns, three counts of failure to file reports of foreign bank and financial accounts, six counts of mail fraud involving private financial aid, and four counts of fraud involving federal financial aid. From 2003 to 2006, Simon received money from five business entities with which he was affiliated, located in Gibralter, Cyprus, Colorado, and Indiana. He did not report the funds received from these entities on his federal tax returns. The Court found that Simon failed to report a total of over $3.1 million to the IRS. Simon also did not disclose that he had an interest in foreign bank accounts held in Gibraltar, Germany and Cyprus, and did not file required “FBAR” reports with the Treasury Department regarding the foreign accounts. Further, Simon provided false information regarding his family’s income and expenses on applications for private financial aid to two different schools and on applications for federal financial aid to one college. Simon is required to pay restitution to the Internal Revenue Service in the amount of $886,901. He will also pay restitution of $48,070 to the Department of Education, $17,000 to Canterbury School, and $101,600 to Culver Academy. These charges were filed as a result of an investigation by the Internal Revenue Service Criminal Investigations. This case has been assigned to and will be prosecuted by Assistant United States Attorney Jesse M. Barrett. Top Printable view Last Modified: 05/10/2011 How Do I Find... Student loans, forgiveness College accreditation No Child Left Behind FERPA FAFSA 1098-E Tax Form 2015 Budget Proposal More > Information About... Transforming Teaching Family and Community Engagement Early Learning K-12 Reforms More > Connect Facebook Twitter YouTube Email RSS Google+ More > MISUSED FOIA OIG Fraud Hotline Our mission is to promote student achievement and preparation for global competitiveness by fostering educational excellence and ensuring equal access. Student Loans Repaying Loans Defaulted Loans Loan Forgiveness Loan Servicers Grants & Programs Apply for Pell Grants Grants Forecast Open Grant Competitions Find Grant Programs by Eligibility Laws & Guidance No Child Left Behind FERPA Civil Rights Data & Research Education Statistics Postsecondary Education Data State Education Data Nation's Report Card What Works Clearinghouse About Us Contact Us ED Offices Jobs News FAQs Budget, Performance Notices FOIAPrivacySecurityInformation qualityInspector GeneralWhitehouse.govUSA.govBenefits.govRegulations.gov
International Businessman James Simon Sentenced. Huntertown, IN., March 29, 2011
Published by the Department of Education, Office of Inspector General on 2011-03-29.
Below is a raw (and likely hideous) rendition of the original report.