A former Maine resident has been sentenced to two years in federal prison for attempting to hide a $1 million tax debt through shell companies, family accounts, and cryptocurrency.
Paul Archer, 46, now living in Florida, appeared before U.S. District Judge Stacy D. Neumann. In addition to his prison term, Archer will serve three years of supervised release.
Between 2013 and 2015, Archer ran a profitable online marketing business focused on software installation, earning millions. An IRS audit in 2016 determined he owed roughly $1 million in federal taxes. Rather than pay, Archer allegedly moved funds through two LLCs—Max Tune Up, LLC and Stealth Kit, LLC—as well as accounts held by his wife and father. Investigators reported that Stealth Kit, LLC processed over $2 million in wire transfers and held an investment account used for trading and dividends. He also conducted significant transactions in Bitcoin through cryptocurrency exchanges.
In March 2019, Archer filed for Chapter 7 bankruptcy, falsely claiming under oath that he had fewer than $50,000 in assets and no connections to LLCs or recent transfers. These false statements extended to meetings with creditors and federal bankruptcy court filings.
The case was investigated jointly by the FBI and IRS Criminal Investigation, highlighting the extensive efforts by authorities to uncover and prosecute sophisticated financial fraud.
