A Potomac attorney who pleaded guilty to tax charges Friday reportedly took more than a half million dollars from the law firm’s corporate account.
The funds were used to buy a home in Potomac, pay his children’s private school tuition and give money to his homeowners’ association, according to the U.S. Attorney’s office.
George Nelson Smith, 52, owner of Smith Law Firm, was charged with filing a false tax return and failing to file return.
According to federal court records, Smith failed to file a tax return for 2007, though federal prosecutors claimed he took at least $668,000 from the law firm for personal expenses.
His 2005 return stated his income as $18,972.41.
Smith was ordered to pay $91,547 in restitution.
Filing a false tax return carries a maximum sentence of three years; failing to file a return carries a maximum one-year sentence.
A sentencing hearing was scheduled for Jan. 28.