Date: 01-24-2025

Case Style:

United States of America v. Stacy Underwood, David Wellington, Jerry Shrock

Case Number: 24-CR-853

Judge: Not Available

Court: The United States District Court for the District of New Mexico (Bernalillo County)

Plaintiff's Attorney: The United States Attorney’s Office in Albuquerque

Defendant's Attorney:

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Description:

Albuquerque, New Mexico criminal defense lawyer represented the Defendants charged with Multi-Million Dollar Tax Evasion Scheme
U.S. Attorney's Office Secures Final Sentencing of Trio Which Orchestrated a Multi-Million Dollar Tax Evasion Scheme

The third and final defendant in a complex tax evasion scheme that operated for over a decade sentenced, concluding a case involving millions of dollars in unpaid taxes.

Between 2005 and 2015, David Wellington and Underwood operated National Business Services, LLC, which specialized in creating Limited Liability Companies (LLCs) for clients seeking to evade federal taxes. The pair organized at least 192 LLCs in New Mexico and opened at least 114 bank accounts for these clients.

Underwood served as the sole signer for 99 of these accounts, allowing clients to conduct financial transactions anonymously. From January 1, 2011, to July 31, 2018, over $40 million was deposited into clients' accounts nominally controlled by Underwood.

Shrock had three LLCs formed by National Business Services while undergoing an IRS audit. Between 2011 and 2015, Shrock deposited nearly $4.9 million into a bank account opened for one of his LLCs, concealing over $4.3 million in income without ever filing tax returns.

U.S. Attorney Alexander M.M. Uballez and Special Agent in Charge Carissa Messick, IRS Criminal Investigation’s Phoenix Field Office, made the announcement today.

IRS Criminal Investigation investigated this case. Assistant United States Attorney Jeremy Peña is prosecuting the case.

Outcome:

Defendants were found guilty and

Stacy Underwoodn was sentenced to time served, followed by three years of supervised release, and ordered to pay over $5.5 million in restitution.

David Wellington was previously sentenced to 40 months in prison and ordered to pay over $5.5 million in restitution for his role in devising and operating the tax evasion scheme and is permanently prohibited from running any business advising clients or dealing with the IRS.

Jerry Shrock was sentenced to five years' probation and ordered to pay $1.5 million in taxes, interest, and penalties

Plaintiff's Experts:

Defendant's Experts:

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