As RBR+TVBR first reported on September 2, the co-owner of one of the most active media brokerage firms in the U.S. has pled guilty to filing a false tax return.
A possible three-year prison term awaits Susan Patrick, co-owner of Patrick Communications, who shared an apology for her actions when reached by Streamline Publishing over the Labor Day holiday.
Writing via e-mail to RBR+TVBR, Mrs. Patrick said:
I am sincerely sorry for the pain and embarrassment that this is causing my family, friends and business associates. To be clear, my partners in Patrick Communications, Larry Patrick and Greg Guy, were totally unaware of this. They continue to operate with the highest levels of integrity and expertise that you all have experienced from them in the past. I am resigning from Patrick Communications effective immediately.
Susan Patrick also apologized “to the dedicated people at our radio stations across the state of Wyoming that do such a great job every day to serve their communities.”
Legend Communications is not related to this tax issue in any way, she said.
However, a review of at least one Legend Communications transactions showed Susan Patrick as the signee on FCC filing, suggesting that her equity interest in the company will need to be addressed; the FCC has stripped licensees of ownership upon becoming a convicted felon, which is against Commission rules.
In closing, Susan Patrick directly addresses the charges of tax return falsification, to which she is pleading guilty to the U.S. Department of Justice. “This is a tax obligation based on a very serious lapse of judgement a decade ago,” she said. “I am fully ready to be held accountable and to do whatever I can and need to do to make up for my decisions of the past.”
In related news, RBR+TVBR has been told by a source close to the matter that the income unreported for tax purposes was $9.5 million, and that the tax liability Mrs. Patrick is liable for totals $2.5 million.
This information could not be verified by multiple sources due to the Labor Day holiday.
