St. Helena man indicted for fraud | Napa Valley Register

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St. Helena man indicted for fraud

Sunday, September 07, 2008

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By JESSE DUARTE
For the Register

Robert P. Peebles of St. Helena has been indicted for fraud by federal prosecutors for failing to report to tax officials that he’d transferred $4 million from his aunt’s trust to another trust in his own name.

Peebles was arraigned this week in Connecticut on charges of violating Internal Revenue Service laws, making false statements under oath to IRS investigators, and mail fraud. He was released on bond after his bail was set at $100,000.

Peebles is accused of failing to report that he received $4 million through an annuity agreement from the estate of his aunt, Charlotte Peebles of Connecticut.

Peebles would not comment, citing advice from his attorney.

Peebles was the trustee of his aunt’s $5 million trust. In September 2000, six months before his aunt’s death at the age of 96, prosecutors say Peebles set up a private annuity with another trust created in his own name. Under the annuity agreement, about $4 million would be transferred from his aunt’s trust to his own trust, to be paid back in annual payments.

According to prosecutors, Peebles fired his attorney after he told Peebles he would have to report the transfer and annuity on the estate’s tax returns to the federal government and the state of Connecticut.

Prosecutors say Peebles then hired two accountants to prepare the tax returns for the money remaining in his aunt’s trust without telling them about the annuity.

Court documents indicate that when IRS officials questioned Peebles under oath in February 2004, he claimed that the accountants never asked him about the annuity, and called its omission from tax filings an “oversight.”

Peebles is not related to Robert Peebles Jr., the Register photo correspondent who lives in Napa, or his fater, Robert Peebles Sr., also of Napa.

3 comment(s)

barefoot wrote on Sep 7, 2008 7:15 PM:

" I think that it is bull that the government wants money if you move something from one place to another. "

mominapa wrote on Sep 8, 2008 8:19 AM:

" No, it's not bull, it is tax on income. He transferred (stole) money from his aunt and put it in his own account - that is counted as income - just as if you were to break a 401K and receive the money - you would be taxed. This joker not only stole his aunt's money, he refuses to pay the taxes on the income from the fraud. I think he should be made to pay the taxes and reimburse the estate plus spend some time "away" to think about his actions and let's add a little fine on to this as well - maybe $1M. He is reprehensible ,stealing money from a defenseless old woman. Seems like we have another Ed Keith on our hands. "

jmo wrote on Sep 8, 2008 2:25 PM:

" What is it with these people thinking that they can get away with this type of activity. If guilty, throw the book at the greedy b......! "

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