Aug 21, 2013 4:24 PM
73-year-old Orion Douglas Memmott, formerly of Willows, was convicted today of attempted tax evasion and subscribing to a false tax document, according to a press release from the State Attorney General’s Office.
According to testimony during the trial, Memmott stole hundreds of thousands of dollars from investors and law firm clients which he spent on his own expenses. Some of those expenses included day trading, travel, and personal trainers. In one case, some of the money was removed from a client’s medical trust, leaving her homeless.
The press release indicated Memmott concealed the embezzled money through the use of nominee accounts and false statements to investors, clients, and the IRS. He also reportedly concealed his real estate holdings and rental income from IRS collection agents seeking to collect unpaid taxes from 1993-1999, amounting to over $650,000.
Memmott is scheduled to be sentenced on November 6. He faces a maximum sentence of five years for attempted tax evasion and a max penalty of three years for subscribing a false tax document. The actual sentence will be determined at the discretion of the court.