Las Vegas Sun

April 16, 2014

Currently: 76° — Complete forecast | Log in | Create an account

Las Vegas businessman charged with bilking investors now accused of tax evasion

A Las Vegas businessman accused of swindling investors out of millions to pay gambling debts was charged with tax evasion in a new indictment on Tuesday.

A federal grand jury charged Ramon DeSage for failing to report more than $87 million from 2006 to 2009.

The indictment estimates that he owes about $31 million in taxes.

The new indictment tacks on four counts of tax evasion to the four counts of wire fraud he was charged with in January.

DeSage told investors he could reel in big profits by purchasing luggage, hand soap and other items at a deep discount, according to the indictment.

DeSage persuaded investors to shell out $190 million, but didn’t tell them a $175 million cut would go toward his personal debts and luxury items he wanted to buy for himself and others, according to the indictment.

According to DeSage’s website he became interested in Las Vegas business after taking a gambling trip in 1977. DeSage thought that the hotels and casinos weren’t up to snuff and could do more to enthrall high rollers. Through his business Cadeau Express, DeSage began selling luxury items to hotels and casinos.

DeSage will be arraigned in federal court on Aug. 15 at 3 p.m. before Magistrate Judge Peggy Leen. According to the Associated Press, DeSage is being held on house arrest.

Join the Discussion:

Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.

Full comments policy