The Ultimate Tax Plan

A felony tax conviction has resulted in an interim suspension from the Indiana Supreme Court.

The Court, being duly advised and upon consideration of all materials submitted, now finds that Respondent has been found guilty of the following offenses under federal law: Conspiracy to Defraud the United States and Tax Evasion.

IT IS THEREFORE ORDERED that Respondent is suspended from the practice of law in this State, effective immediately. Respondent is ordered to fulfill the continuing duties of a suspended attorney under Admission and Discipline Rule 23(26). The interim suspension shall continue until further order of this Court or final resolution of any resulting disciplinary action, provided no other suspension is in effect.

Law.com reported on the offense

Michael L. Meyer, a Florida resident licensed to practice law in Indiana and Kentucky, has been sentenced to eight years in prison in a multimillion-dollar fraud and tax evasion scheme, following charges by the U.S. Department of Justice.

“Meyer earned more than $10 million from selling the Ultimate Tax Plan,” the Justice Department said Thursday. “He used that income to purchase a multi-million-dollar estate and a luxury vehicle collection that included Lamborghinis, Rolls Royces, Mercedes Benzes, a Bentley and a Ferrari.”

Judge K. Michael Moore in the U.S. District Court for the Southern District of Florida said the sentence was to be followed by three years of supervised release, in addition to Meyer’s prison term and a $200 special assessment fee.

Moore also instructed the parties  to file motions on agreed restitution.

Meyer’s Fort Lauderdale attorney, Jeffrey A. Neiman of Marcus Neiman Rashbaum & Pineiro, declined to comment on conviction, following his client’s January plea agreement.

He did confirm to the Daily Business Review, however, that Meyer was not licensed to practice as an attorney in Florida.

Two additional attorneys with Marcus Neiman & Rashbaum were also listed as representing Meyer; Jeffrey Eldridge Marcus and Derick Roberson Vollrath.

IRS Criminal Investigation investigated the criminal case.

Assistant Chief Michael Boteler and trial attorneys Andrew Ascencio and Michael Jones of the Tax Division prosecuted.

The indictment said Meyer was a resident of Evansville, Indiana, until 2015 and then moved to Davie and Southwest Ranches in Florida.

Meyer was licensed to practice law in Indiana and Kentucky, court records show, and represented that he was a certified public accountant, who held an MBA, and was a certified valuation appraiser. Yet, the indictment states that Meyer “falsely reported on Appraisal Forms 8283 that he was a qualified appraiser.”

In January, Meyer admitted to running a widespread tax-shelter scheme involving an Independence wealth manager who faces prison time for lying about charitable contributions for rich clients, according to the Department of Justice.

Court documents and court testimony showed that from 2013 to 2021, Meyer exploited his credentials as both an attorney and a certified public accountant to orchestrate a tax evasion strategy known as “The Ultimate Tax Plan.”

Alongside co-conspirators Rao Garuda and Cullen Fischel, Meyer pitched this plan as a method for affluent clients to significantly reduce their tax liabilities through deductions for charitable donations, which were, in reality, non-existent, prosecutors said.