California Businessman Indicted for Alleged Tax Evasion Using Gambling Losses

Edward Michael Greer is accused of misclassifying personal expenses, including gambling debts and a luxury car purchase, as business costs to evade taxes.

• Edward Michael Greer, owner of Greer & Kirby Co. Inc., faces four federal counts of tax evasion for actions allegedly committed between 2017 and 2020.
• Prosecutors claim Greer used his company's accounts to pay personal expenses, including over $1 million in gambling losses and the purchase of a 2021 Mercedes-Benz.
• Greer is accused of concealing these payments in business records and misclassifying them as legitimate business expenses to reduce taxable income.
• The case is linked to an illegal sports gambling operation involving bookmakers Wayne Nix and Ken Arsenian, who have already pleaded guilty and await sentencing.
• If convicted, Greer could face up to five years in federal prison for each count of tax evasion.

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Orange County Register U.S. Department of Justice U.S. Department of Justice