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Los Angeles An Orange County house flipper who admitted to misappropriating investor funds pleaded guilty today to two federal tax charges for concealing his income.
Scott Weidenhammer of Laguna Hills, pleaded guilty to two counts of subscribing to a false income tax return.
According to his plea agreement, between 2010 and 2015, Weidenhammer conducted a house-flipping operation by which he would buy, renovate, and sell high-end homes. Weidenhammer solicited money from investors, promising to use the funds as working capital for his house-flipping operation. Instead, he diverted funds back into his bank account for personal use.
During the 2013 and 2014 tax years, Weidenhammer omitted gross receipts from his individual federal income tax return causing a combined tax loss to the United States government of at least $100,000. Weidenhammer admitted that he failed to report income from the commissions he earned flipping homes along with the diverted investor funds used for perso
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