Colorado Dentist Charged on Tax Evasion, Concealing $3.5 Million

A Colorado dentist was charged on six counts of tax evasion for his use of an illegal tax shelter, the Justice Department announced Monday.

According to the DOJ, Ryan Ulibarri purchased a tax shelter in 2016 for $50,000 and used it to conceal over $3.5 million in income from the IRS from 2017 through 2022.

To effectuate the tax shelter, the DOJ said Ulibarri signed trust instruments purporting to create three trusts and a private foundation and opened bank accounts in the name of each entity, to which he then transferred nearly all the funds he earned from his ...