Smiling real estate developer Michael Shvo pleads guilty to tax evasion and is ordered to pay back $3.5MILLION then piles on the PDA with his wife as they leave court in a $400,000 Rolls Royce

Mail Online | 6/7/2018 | Hannah Moore For Dailymail.com
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A New York real estate developer who pleaded guilty to tax evasion on Thursday was seen leaving the New York State Supreme Court with his wife in a Rolls Royce worth more than $400,000.

Michael Shvo and wife Seren Shvo were seen walking out of court and sharing a passionate kiss before climbing into the luxury car.

Tax - Purchases - Art - Furniture - Jewelry

The 45-year-old pleaded guilty to avoiding tax on purchases of fine art, furniture and jewelry.

His tax evasion also reflected his taste for luxury cars - Shvo created a shell company to avoid payment of state and local use tax on a 458 Ferrari Spider - the cost of which starts at $230,000.

Statement - Manhattan - District - Attorney - Shell

A statement from the Manhattan District Attorney claimed the shell company had 'no legitimate business purpose except for ownership of Shvo's Ferrari, and the vehicle itself was used by Shvo in New York and Water Mill'.

Shvo had set up the company in Montana and registered the Ferrari in the out-of-state company's name to avoid New York's use tax.

Estate - Mogul

The real estate mogul, who emigrated...
(Excerpt) Read more at: Mail Online
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