​Dan Kyle Sentenced To 30 Months In Federal Prison For Tax Fraud

​Dan Kyle Sentenced To 30 Months In Federal Prison For Tax Fraud

© 2017, Roadracing World Publishing, Inc.

Suspension guru and former Two Brothers Racing and Erion Racing crew chief Dan Kyle has been sentenced to 30 months in federal prison, three years supervised release and fined $50,000 after pleading guilty to tax fraud and currency transaction felony charges, according to the U.S. District Court, Northern District of California.

Kyle was sentenced on Monday, September 25 in San Jose, and must surrender to authorities no later than November 29, according to the order signed by Judge Edward J. Davila. The court recommended that Kyle be placed in a facility close to Monterey, California.

In May, Kyle pleaded guilty to felony charges of making a false individual income tax return and of structuring currency transactions to avoid reporting requirements. Kyle was sentenced to 30 months on each charge, but the sentences will be served concurrently.

Kyle admitted to taking cash from customers of Kyle Racing in Sand City, California, and not reporting the income to avoid paying taxes on it, prosecutors said in an earlier statement. In addition, Kyle admitted to purchasing more than $825,000 in money orders in a manner deliberately designed to avoid requiring transaction reports, thereby avoiding detection.

Kyle then used the money order to purchase items from “Audi Financial, BMW of Monterey, Tiffany and Company, Christies, Porsche Financial Services, Capital One Bank, Citibank, Monterey Credit Union, and Wells Fargo Bank,” prosecutors said.

The tax loss for Kyle’s activities was estimated to be between $500,000 and $1.5 million, according to prosecutors.

In June, Kyle forfeited $100,000 to the government, according to court documents.

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