Randy Lynn White Sentenced For Tax Evasion
The man that was in charge of a family trust has been sentenced to nearly three years in prison.
Randy Lynn White was sentenced Thursday to 33 months in federal prison following his June 2013 guilty plea to one count of tax evasion.
White was the sole trustee of the Frank F. McMordie, Jr. Family Trust, and derived substantial benefits and income from the trust, both in administration fees and what he took for his personal use.
The trust consisted primarily of a large ranch in the Texas Panhandle that produced mineral interests.
The U.S. Attorney’s Office says that White paid himself excessive administrative fees and spent most of the trust’s remaining money on personal expenditures such as motorcycles, diamond and gold jewelry, cars, and personal house payments.
White reportedly attempted to cover up his expenditures by paying a relatively small amount of the trust’s income to the beneficiary, Frank F. McMordie III, who resided in Mexico.
During that time, White intentionally did not file required tax returns for 2007, 2009, and 2009, resulting in tax loss of more than $211,000.
White has also been ordered to pay more than $211,000 in restitution and serve a term of three years of supervised release after he gets out of prison.