Blues musician found guilty of evading $330,000 in taxes

Article by: Star Tribune
Updated: December 9, 2009 - 8:54 PM

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A Minneapolis blues musician has been convicted in St. Paul federal court of evading more than $330,000 in federal income taxes owed for several recent tax years.

Steven Mark Renner, 53, was found guilty by a jury of four counts of tax evasion.

According to the indictment and evidence presented at trial, Renner diverted substantial amounts from his Internet-based money transmission business, Cash Cards International (CCI), between 2002 and 2005 to pay personal expenses as well as make investments in coins, oil wells, art, stamps and vintage musical instruments.

He also was accused of using CCI money to promote his band, Stevie Renner and the Renegades.

From 2001 to 2006, Renner owned CCI, with locations in Minnesota, South Dakota and Hawaii. He failed to file tax returns with the IRS for 2002 through 2004.

"Tax evasion is not a victimless crime," said Julio La Rosa, acting special agent in charge of the IRS-Criminal Investigation Division's St. Paul field office. "Honest, hardworking taxpayers pay the price when others choose to evade their tax obligations. As this verdict shows, those that cheat will get caught."

Renner faces a potential maximum penalty of five years in prison for each count. Sentencing has yet to be scheduled.

PAUL WALSH