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On September 17, 2004, in San Diego, CA, B. Roland Frasier, an attorney for a prominent San Diego ophthalmologist, Dr. Glenn Kawesch, pleaded guilty to tax evasion, filing false returns, and money laundering. Frasier admitted that he transferred $1.25 million of Dr. Kawesch’s profits from his medical practice to an offshore account at the Bank of Nevis to avoid paying incomes taxes. Frasier also admitted he underreported $3.3 million of his own income for the tax years 1997 through 2001, which resulted in a tax loss of $934,000. In addition, Frasier admitted he entered into a series of sham agreements involving a business he helped take public. He did not disclose to the company's president about his ownership of a corporation in Nevis that received $300,000 and 7 million shares. Frasier had telemarketers sell more than 1.3 million of the shares which netted more than $1 million.
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A legal representative for popular San Diego eye surgeon Dr. Glenn Kawesch pleaded guilty to tax evasion and money-laundering the other day and confronts 3 years in jail. B. Roland Frasier, 40, of Rancho Santa Fe, confessed in federal court that he moved $1.25 million of Kawesch's earnings to an overseas bank to attempt to prevent taxes and lenders. Frasier likewise confessed underpaying nearly a million dollars in federal taxes by not reporting $3.4 million of his own earnings, much of it company earnings from his law office that he utilized for personal expenses. And he confessed he entered into a series of sham agreements involving a business he helped take public. He lied to the business's president about his ownership of a corporation in Nevis that got $300,000 and 7 million shares, district attorneys stated. He then had telemarketers sell more than 1.3 countless the shares, netting more than $1 million, prosecutors stated. Frasier is to be sentenced Dec. 6. In an associated case, Kawesch pleaded guilty in May last year to evading $4.2 million in federal taxes through sham agreements and plans. He is arranged to be sentenced Oct. 25. Kawesch is fighting state regulators who say he should lose his license since his guilty plea shows "moral turpitude." Federal district attorneys were unsure whether Frasier would lose his bar license Roland Frasier as a result of his guilty plea.
