US government pursuing Florida psychiatrist for nearly $11 million in income tax fraud

March 29, 2018

The United States government is looking to collect more than $10.8 million from a Sarasota, Florida psychiatrist stemming from her conviction for concealing the income she made from the sale of two medical schools in the Caribbean.

A jury convicted Dr. Patricia Lynn Hough in October 2013, finding her guilty of concealing millions of dollars in assets and income from the two medical schools she and her husband started in the Caribbean and later sold for more than $35 million. Hough hid the money in undeclared, offshore bank accounts and filed false tax returns to hide those accounts.

The U.S. government filed a civil lawsuit in federal court in Tampa earlier this month to collect the monetary penalties assessed against Hough for her intentional failure to disclose eight foreign bank accounts on her 2008 tax return, the civil complaint said.

SOURCE: Frances McMorris, "Government pursuing Sarasota psychiatrist for nearly $11 million in income tax fraud," Tampa Bay Business Journal, 28 Mar 2018, https://www.bizjournals.com/tampabay/news/2018/03/28/government-pursuing-sarasota-psychiatrist-for.html.