Creve Coeur venture capitalist pleads guilty to federal tax charges
ST. LOUIS (KTVI) – A Creve Coeur man has pleaded guilty to federal tax charges in St. Louis federal court Monday. Burton Douglas Morriss, 50, plead guilty to tax evasion charges for evading payment of millions of dollars of income tax for the years 2006 to 2009. Court documents say he attempted to evade a total liability of $5,559,386 for the years 2006 to 2009.
Morriss listed his occupation as a venture capitalist, for several companies he listed in his mother’s name, claiming losses of more than $18 million, while actively discussing tax liabilities of buying and selling investments to investors.
In related action, the Securities and Exchange Commission is a pursuing action against Morriss, to bar him from acting as an officer for several companies, and make restitution of ill gotten gains and civil penalties in the near future.
Morriss is facing a five year prison term and a fine of up to $100,000, plus mandatory restitution. Sentencing is scheduled for Nov. 22, 2013.