A California motorcycle salesman pleaded guilty to defrauding the U.S. government of hundreds of thousands of dollars in taxes and spending the money on luxury cars and jewelry according to a San Francisco newspaper report.
In the plea agreement, Daniel Laine Kyle of Carmel California admitted to tax fraud and structuring currency transactions to avoid reporting requirements, according to the U.S. Attorney’s Office for the Northern District of California.
Kyle owned and ran a performance motorcycle parts business called Kyle Racing, which he founded in November 1997. As part of his fraud scheme, he instructed employees not to issue invoices to customers who paid in cash so he could under-report his income to the Internal Revenue Service, officials said.
Dan Kyle Racing is known best for being the largest Öhlins suspension dealership in the United States (if not the world), as the company offered aggressive pricing on the Swedish-born suspension, and was one of the first Öhlins dealers with an online presence in the early days of the internet.