Local Chiropractor Indicted For Tax Evasion
A Coon Rapids-based chiropractor was indicted this month for tax evasion and submitting a fake bond he valued at $300 million to pay off his liabilities.
Donald Gibson allegedly failed to file federal income tax returns from 2004 to 2010 for his work as a chiropractor.
Gibson allegedly evaded paying taxes by cashing his business checks at a check-cashing facility, purchasing money orders and directing his income onto stored-value debit cards.
In May 2012, the Internal Revenue Service informed Gibson that he owed approximately $330,000 in federal income taxes. Not long after, court filings indicate Gibson submitted to the IRS a fake “private offset discharging and indemnity bond”—or commerce used in absence of substance backed currency— in the amount of $300 million to cover his outstanding tax liabilities.
A year and a half later, in October 2013, Gibson allegedly registered a nonprofit corporation—named Sovereign Christian Mission—with the Oregon Secretary of State. Court filings indicate he later opened a bank account in the name of the nonprofit and began depositing the income of his chiropractic practice into the Sovereign Christian Mission bank account.
From January 2014 to June 2014, Gibson allegedly hid his income through the nonprofit and used its bank account to pay his personal expenses.
If convicted, Gibson could face up to 30 years in prison for the charges of tax evasion and passing a fictitious obligation.