Baltimore man pleads guilty to tax-evasion count

He tried to avoid paying $2.9 million due on estate

money put in Swiss bank

May 10, 2002|BY A SUN STAFF WRITER

A Baltimore man admitted yesterday that he tried to avoid paying $2.9 million in taxes on his mother's estate by moving millions of dollars to a Swiss bank account and then abruptly moving to the Bahamas.

Eric H. Heydemann, 41, pleaded guilty in U.S. District Court in Baltimore to one count of tax evasion.

Heydemann, who will be sentenced July 30, could receive up to five years in prison and be ordered to pay back taxes, with interest and penalties.

Heydemann's mother, Maija Heydemann, had operated the Baltimore Instrument Co. before she died in Australia in March 1996.

Assistant U.S. Attorney Dale P. Kelberman said in court papers that her son was named to represent the estate, valued at more than $6 million.

Instead of paying estate tax, Heydemann fired his tax attorney and then put more than $4 million in a Swiss account. He sold his Baltimore condominium at a loss and moved to the islands, court records show. Heydemann voluntarily returned to Baltimore to face the federal charge after an Internal Revenue Service investigation.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.