Berthoud horse breeder arrested for income tax evasion; allegedly failed to file 11 returns

IRS investigation reveals tax evasion since 1997

DENVER - A Berthoud horse breeder who allegedly did not file 11 tax returns was arrested for income tax evasion on Jan. 18.

Nikitis A. Mangeris, age 69, was arrested in his home in Berthoud last Friday for tax evasion and aiding and abetting. The horse breeder operated the Les Beaux Chevaux and Tenet Investment Group businesses, which held Arabian horses and provided horse breeding services.

An IRS audit and criminal investigation revealed that Mangeris failed to file 11 U.S. Income Tax Returns and has been evading tax payments since 1997. Mangeris also failed to report income from his horse breeding businesses and receipts from semen sales, said Jeff Dorschner, spokesman for the U.S. Attorney in Colorado.

The horse breeder was charged with one count of income tax evasion and aiding and abetting.

“With tax season around the corner this indictment should serve as a reminder that anyone who evades paying their taxes will be held criminally accountable,” said U.S. Attorney John Walsh in a quote provided by his office. 

After appearing in U.S. District Court in Denver on Friday, Mangeris was released on a $10,000 unsecured personal appearance bond.  If convicted, the horse breeder faces up to 5 years in federal prison and a fine of up to $250,000. He is scheduled to appear in court on Jan. 24 for arraignment.
 

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