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Rapid City Surgeon Convicted of Income Tax Fraud

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RAPID CITY, S.D. (AP) – A federal jury has convicted a Rapid City surgeon on 13 felony charges related to income tax evasion.

Edward Picardi, of Sturgis, was accused of sending millions of dollars of income out of the country and filtering the money through offshore accounts to avoid paying taxes on it. His trial lasted three weeks.

The Rapid City Journal reports (http://bit.ly/VJXv4f) that the 55-year-old Picardi faces up to 55 years in prison and $3.25 million in fines. He also could be forced to pay more than $1 million in back taxes, interest and penalties. A sentencing date was not immediately set.

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Copyright 2012 by The Associated Press. All rights reserved. Material may not be redistributed.

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