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69-year-old Seattle real estate owner, Steven T. Loo, has been convicted of six counts of tax evasion and six counts of making false tax returns, the Department of Justice announced Monday.

    Loo failed to report over $4.7 million in income from his commercial properties in Washington and California on his tax returns. He used shell companies and complex financial transactions to conceal his earnings from the Internal Revenue Service (IRS).

    Court records show Loo operated multiple real estate properties through limited liability companies, with profits being deposited into bank accounts controlled by him. However, he did not report this income to the IRS or inform his tax return preparer.

    Assistant U.S. Attorney Sean Waite described Loo's actions as "strategic," "deceptive," and "incredibly profitable." He emphasized that Loo's failure to pay taxes was not a mistake but a deliberate choice, saying, "No one wants to pay taxes, but nurses, firefighters, and teachers all pay them. Mr. Loo needs to pay his share."

    After a seven-hour deliberation, the jury found Loo guilty of six counts of tax evasion and six counts of making false tax returns. Each count of tax evasion carries a maximum sentence of five years in prison, while making false tax returns can result in up to three years in prison. U.S. District Court Judge King will determine Loo's final sentence based on sentencing guidelines and other factors.