Twin Cities Investment Adviser Sentenced For Tax Evasion
MINNEAPOLIS (AP) - A Twin Cities investment adviser has been sentenced to prison for using the business to cheat his father and other clients out of nearly $2 million.
Forty-three-year-old Joel W. Carlson of Vadnais Heights was sentenced Friday to three-and-a-half years in prison.
Carlson also was ordered to pay restitution to his victims for the full amount along with another $1.2 million to the IRS.
In September, Carlson pleaded guilty in federal court to two counts of tax evasion.
According to his guilty plea and court documents, Carlson in 2010 and 2011 deposited client investments, as well as money from his father, into an account that he tapped for his own use.
Defense attorneys reported;y argued for a prison term of not more than two years.