Glenn E. Lockwood, 61, of Kenai, Alaska, was sentenced to five years in prison for his conviction on four counts of tax evasion. In addition to prison, Lockwood was ordered to pay a $10,000 criminal fine and an additional $42,000 for the costs of prosecution.
According to court records, Lockwood was a practicing dentist who owned the Kenai Dental Clinic and attempted to evade more than $575,000 in federal income taxes for the years 2000 to 2003. As set forth in the indictment, Lockwood improperly leased his professional services to an Irish entity, which leased his services to a Nevada company, which in turn leased Lockwood’s services back to his professional corporation, Glenn E. Lockwood, DDS, PC.
The evidence presented at trial established that Lockwood used nominees, offshore accounts and a sham trust to disguise his interest in assets. He hid his money offshore, funneling it through Ireland and the Caribbean island of Nevis and the Bahamas.
Evidence at trial also showed that Lockwood deducted practically every expense in his life from the relatively little income he did report, including deducting expenses to massage parlors as “continuing education.”
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