Physician Couple Accused of Hiding Millions From IRS

A husband and wife who are physicians face grand jury indictments for allegedly using a series of offshore accounts to avoid taxes while investing in homes in Sarasota and North Carolina, the Sarasota-Herald Tribune reports.

A federal grand jury indicted David Leon Fredrick and Patricia Lynn Hough, two Englewood doctors, who are accused of filing false tax returns, according to the Department of Justice, which issued a press release.

The couple allegedly tried to hide millions of dollars in assets and income from the Internal Revenue Service,.

The doctors served on a pair of medical schools based in the Caribbean. The allegations include hiding real estate sales associated with the medical schools, including one transaction worth $33 million.

The federal indictment alleges that the couple conspired with Beda Singenberger, a Swiss citizen who faces a similar indictment in New York.

The pair allegedly moved the money through a series of bank accounts before purchasing a condominium in Sarasota, an airplane and two home in North Carolina.

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