< Back to Previous Page Man Guilty of Failing To Report Income from Corporation Tyco Defendant Raymond Scott Stevenson, of Delray Beach, Florida, entered a plea of guilty to a one count criminal Information charging him with filing a false corporate tax return before United States District Court Judge Donald M. Middlebrooks. The violation carries a maximum sentence of three years imprisonment, one year of supervised release, and a $250,000 fine. Sentencing is scheduled for November 29, 2006. Stevenson admitted to intentionally failing to report more than $170 million in income on Tyco International Ltd.’s 1999 corporate tax return, which would have resulted in an additional tax liability of approximately $50 to $60 million. Stevenson was Tyco’s top tax advisor and served as Tyco’s Vice President in charge of taxation, where his responsibilities included overseeing the preparation and filing of Tyco’s corporate tax returns. As the head of Tyco’s tax department, which was located in Boca Raton, Florida, Stevenson directed a series of transactions designed to reduce Tyco’s state tax liability. In doing so, an approximate $170 million federal capital gain was incurred by Tyco. Stevenson ordered that certain documents relating to these transactions be back-dated to avoid reporting the $170 million federal capital gain on Tyco’s 1999 corporate tax return. Pursuant to his plea agreement Stevenson has agreed to cooperate with the United States and the Internal Revenue Service in any on going investigations.