Fort Collins Dentist Pleads Guilty to Tax Evasion Scheme
A Fort Collins dentist has pleaded guilty to charges of tax evasion after it was discovered that he hid over $3.5 million in income from the IRS using an illegal tax shelter. Ryan Ulibarri, the owner of Ulibarri Family Dentistry, set up the tax shelter in 2016, which included a network of trusts and a private family foundation, according to the U.S. Department of Justice.
Between 2017 and 2022, Ulibarri transferred millions of dollars in profits from his dental practice into the shelter, using the money to pay off credit card debts, his home mortgage, boats, and baseball season tickets. In addition to this, he filed fraudulent tax documents, resulting in a tax loss of over $1 million for the IRS.
The federal case against Ulibarri was initiated in August, and he pleaded guilty to six counts of tax evasion. He is facing up to five years in prison for each count and is scheduled to be sentenced on June 17.
It is a stark reminder of the consequences of attempting to evade taxes and the importance of complying with tax laws. Sign up to get crime news sent straight to your inbox each day for more updates on this case.
