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Santa Barbara CPA Receives Three Year Federal Prison Sentence For Tax Fraud

Posted on Tuesday, March 5, 2013 11:12am

A Santa Barbara CPA has been sentenced to three years in prison, after being convicted of funneling profits from his accounting business through a non-profit agency he set up to avoid taxes.

Federal prosecutors say Steven Mark Pybrum of Montecito was convicted last year of four counts of subscribing to false income tax returns.

They say the 61 year old man failed to properly report more than a million dollars in profits from his two businesses, and used the money for things like the purchase of a plane, and fishing boat, and renting a Montecito mansion.

Prosecutors say hundreds of thousands of dollars Pybrum earned annually was funneled to the non-profit Foundation For Harmony and Happiness, a financial counseling service for couples.

But, IRS investigators say there is no evidence the non-profit earned money, or provided any charitable services.

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