San Rafael CPA indicted for fraud, tax evasion and money laundering

(BCN) — A federal grand jury has returned a superseding indictment charging a San Rafael man with filing false tax returns, mail fraud and money laundering, prosecutors announced Thursday.

Michael M. Gilbert, a certified public accountant since 1985, allegedly underreported income from his accounting firm, M.M. Gilbert & Company Inc., between 2017 and 2020, according to the U.S. Attorney’s Office.

The indictment also accuses Gilbert of soliciting payments from clients under the guise of “tax strategies” and “donations,” directing them to a separate entity he controlled, White Mountain Properties Inc., a press release noted.

Prosecutors allege Gilbert did not report the payments and instead diverted the funds of more than $5 million between 2020 and 2021 for personal use.

If convicted, Gilbert faces up to 20 years in prison for each mail fraud count, 10 years for each money laundering count, and three years for each false tax return charge, prosecutors said.

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