Suspected beneficiary of $26 million investor scheme accused of tax evasion

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Suspected beneficiary of $26 million investor scheme accused of tax evasion

Article by: PAUL WALSH , Star Tribune
Updated: April 6, 2012 - 4:16 PM

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A Twin Cities man has been charged with failing to file taxes during the years when he earned more than $110,000 that was given to him by the brains behind a multimillion-dollar investment scheme.

Harry M. Quinn, 62, was charged in federal court in St. Paul with two counts of not filing tax returns for 2005 and 2006, knowing that $113,665 of his income came from Michael J. Krzyzaniak. If convicted, Quinn faces a potential maximum penalty of one year in prison on each count.

In February, Krzyzaniak, 63, was sentenced to more than 12 years in prison for bilking investors out of $25.9 million.

If convicted, Quinn faces a potential maximum penalty of one year in prison on each count.

Krzyzaniak, whose residences included one in Wayzata, was sentenced for his role in promoting development projects that never happened. Among them a resort and housing development in Desert Hot Springs, Calif., that included a Phil Mickelson-designed course, and a NASCAR-style race track in the Elko New Market area south of the Twin Cities.

Paul Walsh • 612-673-4482