A Seattle real estate owner, Steven T. Loo, was found guilty of six counts of tax evasion and six counts of making false tax returns in a U.S. District Court in Seattle. The conviction was announced by Acting U.S. Attorney Teal Luthy Miller. Loo is scheduled to be sentenced on October 9, 2025, by U.S. District Judge Lauren King.
Loo operated multiple commercial real estate properties in western Washington and California and managed them through property management companies. He directed the profits from these properties into two bank accounts under his control, using the funds for personal benefits and reinvestment in various businesses he controlled. However, he failed to declare over $4.7 million as income on his tax returns, using shell companies and fund transfers to hide this income from the IRS.
During the trial, evidence showed that income from eight properties operated by Loo through limited liability companies (LLCs) was channeled into accounts associated with inactive entities established in Washington since 1999. This income was not reported to the IRS nor disclosed to his tax return preparer.
Assistant United States Attorney Sean Waite argued that “Mr. Loo was strategic – he was deceptive – and he was incredibly profitable…. This isn’t a mistake… It’s criminal.” The jury deliberated for about seven hours before delivering a guilty verdict on all charges.
Each count of tax evasion could lead to up to five years of imprisonment, while making a false tax return carries a potential sentence of up to three years per count. The final sentence will be determined after considering various guidelines and factors.
The case involved an investigation by the Internal Revenue Service Criminal Investigation (IRS-CI) and is being prosecuted by Assistant United States Attorneys Mike Dion and Sean Waite along with Trial Attorney Regina Jeon from the Department of Justice Tax Division.
