The U.S. Marshals Service is seeking to seize two multi-million dollar aircraft owned by the Saint Barbara Foundation (SBF), a California philanthropic organization, according to a court filing obtained by the Associated Press. The aircraft are a Falcon 900EX luxury jet valued at approximately $7.5 million and a Global Express XRS jet valued at approximately $51 million. The jets were purchased by noted tech investor and SBF chairman Timothy Draper.
The government claims that SBF failed to pay taxes on the jets, resulting in a delinquency of $715,000 in federal taxes and $113,000 in back taxes owed to the state of California. The instruments of property allegedly used to purchase the jets were obtained with the proceeds of fraudulent activities in violation of federal laws, according to the court documents.
The government is seeking forfeiture of the aircraft as well as any proceeds derived from their sales, including the proceeds associated with a proposed sale of the jets to a foreign company. SBF has 30 days to respond to the government’s petition.
This case serves as a reminder that all individuals and organizations are responsible for paying their taxes, even on large purchases like expensive aircraft. The government takes cases involving tax fraud very seriously and has the authority to seize assets if they are suspected to have been associated with such activities.
