National Fraud Enforcement Division(@DOJFraudDiv):Expatriated Hedge Fund Manager Sentenced to Prison for Tax Evasion: Defendant CONCEALED MILLIONS in Foreign Bank Accounts Before Renouncing U.S. Citizenship “Today’s sentence makes clear that renouncing U.S. citizenship does not shield you from American justice,” said Assistant Attorney General Colin McDonald. “Mr. Schmidt deliberately hid millions in income and assets from the IRS, filed false statements, and cheated America’s tax system. Despite his best efforts to evade the reach of the Justice Department, Mr. Schmidt will now begin to reap the true reward of his crimes.” @USAO_WDTX @USAttySimmons @IRS

National Fraud Enforcement Division@DOJFraudDiv

2026.07.27 21:27

Expatriated Hedge Fund Manager Sentenced to Prison for Tax Evasion: Defendant CONCEALED MILLIONS in Foreign Bank Accounts Before Renouncing U.S. Citizenship “Today’s sentence makes clear that renouncing U.S. citizenship does not shield you from American justice,” said Assistant Attorney General Colin McDonald. “Mr. Schmidt deliberately hid millions in income and assets from the IRS, filed false statements, and cheated America’s tax system. Despite his best efforts to evade the reach of the Justice Department, Mr. Schmidt will now begin to reap the true reward of his crimes.” @USAO_WDTX @USAttySimmons @IRS_CI 🔗: