Guilty pleaWestern Texas
Hedge Fund Manager Pleads Guilty to Tax Evasion in Austin
Apr 20, 2026 · Sourced to the U.S. Department of Justice
This case reached the guilty plea stage in the Department of Justice's public record. Everything below reflects only what the government itself announced, and links to the original release.
Justin Ryan Schmidt, a Cayman national who renounced his U.S. citizenship, pleaded guilty to evading payment of more than $1.5 million of federal income tax liabilities
Defendants
- Justin Ryan Schmidt — Austin, Texas · pleaded guilty
Charges
Tax evasion
Max: five years in prisonJustin Ryan Schmidt· pleaded guilty
Financial actions
- tax evasion: $1.5 million — Evaded payment of more than $1.5 million of federal income tax liabilities
- restitution — Faces restitution and monetary penalties as part of sentencing
Investigating agencies
IRS Criminal InvestigationU.S. Department of Justice, Criminal DivisionU.S. Attorney's Office
Case details
Cryptocurrency InvestmentsExpatriation And Renunciation Of CitizenshipFederal Fraud EnforcementReal Estate FraudTax EvasionUndisclosed Foreign Bank Accounts
Primary source
Every fact above is drawn from the Department of Justice's own announcement — a public-domain government record.
Read the original DOJ release →This is a research and reference page compiled from public DOJ announcements, not legal advice. Details reflect the government's statements as of its release date and may not capture later developments such as appeals, dismissals, or overturned convictions. Defendants are presumed innocent unless and until proven guilty.