An Orange County resident, Edward Michael Greer, faces arraignment today following a federal grand jury indictment accusing him of tax evasion. The Newport Beach man is charged with four counts of tax evasion for allegedly claiming millions in gambling losses and personal expenses as business deductions.
The indictment claims that Greer, who owned the La Mirada-based insurance salvage company Greer & Kirby Co. Inc., used company accounts to cover personal costs between 2017 and 2020. These included payments to bookmakers Wayne Joseph Nix and Ken Arsenian for sports gambling losses and the purchase of a 2021 Mercedes-Benz.
It is further alleged that Greer disguised these payments in the company's records, often labeling them as business expenses to lower reported income. Nix and Arsenian have previously pleaded guilty for their involvement in an illegal sports gambling operation and await sentencing.
"An indictment is merely an allegation," authorities stated. "All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law."
If found guilty, Greer could face up to five years in federal prison per count.
The IRS Criminal Investigation unit is handling the investigation. Assistant United States Attorney Jeff Mitchell from the Major Frauds Section, along with Trial Attorneys Julia Rugg and Mahana Weidler from the Justice Department’s Tax Division, are leading the prosecution.