Date: December 10, 2020 Contact: email@example.com Joleen Simpson, Acting Special Agent in Charge of IRS Criminal Investigation in New England, announced that Guy Smith, of Shelton, waived his right to be indicted and pleaded guilty today to one count of tax evasion. Pursuant to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the court proceeding before U.S. Magistrate Judge Robert A. Richardson occurred via videoconference. According to court documents and statements made in court, Smith owns and operates Centerline Interiors LLC, a business that specializes in commercial interior construction. Smith is also a professional poker player and has participated in poker tournaments at casinos in Connecticut and other locations around the U.S. and The Bahamas. Smith withdrew funds from both his business and personal bank accounts for his gambling business. For the 2012 through 2016 tax years, Smith furnished his tax preparer with a summary of Centerline's income and expenses, which the tax preparer used to prepare Smith's federal income tax returns. Smith did not provide his tax preparer with any bank statements. During these five years, Smith intentionally failed to report to his tax preparer, and to the IRS, approximately $482,000 in income he received from Centerline Interiors. In addition, even though the IRS notified Smith on multiple occasions that he was required to report all of his gambling income on his federal tax returns, Smith concealed his gambling income from his tax preparer and paid no income taxes on more than $1 million in gambling winnings. For the 2012 through 2016 tax years, Smith failed to pay a total of $821,415 in federal income taxes. Smith is scheduled to be sentenced by U.S. District Judge Michael P. Shea on March 4, 2021, at which time he faces a maximum term of imprisonment of five years. Smith also has agreed to cooperate with the IRS to pay all outstanding taxes, interest and penalties. Smith is released on a $50,000 bond pending sentencing. This case is being investigated by the Internal Revenue Service – Criminal Investigation Division, and is being prosecuted by Assistant U.S. Attorney Michael S. McGarry.