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On September 17, 2004, in San Diego, CA, B. Roland Frasier, an attorney for a prominent San Diego ophthalmologist, Dr. Glenn Kawesch, pleaded guilty to tax evasion, filing false returns, and money laundering. Frasier admitted that he transferred $1.25 million of Dr. Kawesch’s profits from his medical practice to an offshore account at the Bank of Nevis to avoid paying incomes taxes. Frasier also admitted he underreported $3.3 million of his own income for the tax years 1997 through 2001, which resulted in a tax loss of $934,000. In addition, Frasier admitted he entered into a series of sham agreements involving a business he helped take public. He did not disclose to the company's president about his ownership of a corporation in Nevis that received $300,000 and 7 million shares. Frasier had telemarketers sell more than 1.3 million of the shares which netted more than $1 million.
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An attorney for popular San Diego eye surgeon Dr. Glenn Kawesch pleaded guilty to tax evasion and money- laundering yesterday and faces up to 3 years in prison. B. Roland Frasier, 40, of Rancho Santa Fe, confessed in federal court that he transferred $1.25 million of Kawesch's profits to an overseas bank to attempt to avoid taxes and financial institutions. Frasier likewise admitted underpaying almost a million dollars in federal taxes by not reporting $3.4 countless his own earnings, much of it organisation earnings from his law firm that he utilized for individual expenses. And he admitted he entered into a series of sham arrangements involving an organisation he assisted take public. He lied to the company's president about his ownership of a corporation in Nevis that got $300,000 and 7 million shares, district attorneys stated. He then had telemarketers sell more than http://legacy.sandiegouniontribune.com 1.3 million of the shares, netting more than $1 million, district attorneys said. Frasier is to be sentenced Dec. 6. In a related case, Kawesch pleaded guilty in May last year to averting $4.2 million in federal Roland Frasier taxes through sham contracts and plans. He is scheduled to be sentenced Oct. 25. Kawesch is fighting state regulators who state he must lose his license due to the fact that his guilty plea shows "ethical turpitude." Federal district attorneys were uncertain whether Frasier would lose his bar license as a result of his guilty plea.
