Taxable Talk

Ray Wersching had an illustrious career in the NFL. After starting his career with the San Diego Chargers, he moved on to the San Francisco 49ers, and played in Super Bowls XVI and XIX. Wersching holds the career Super Bowl record for most field goals (5). After retiring from the NFL, Wersching started an insurance company, Ray Wersching Insurance Agency, in Redwood City, CA, south of San Francisco on the Peninsula.

On Wednesday, Wersching was indicted for allegedly misappropriating premiums that should have been paid to Farmers Insurance Group, and of evading taxes on $3.6 million of corporate income in 1999 and 2000. Last year, the company’s co-owner, Mary Ann Locke, was indicted on similar charges.

Wersching’s attorney told the San Francisco Chronicle, “The money that was stolen went to Mary Ann Locke. Ray got none of it…She spent $8 million on a lavish lifestyle and gambling in Nevada.”

Wersching, who is also a CPA, is due in court on Monday.

News Stories: San Francisco Chronicle, San Jose Mercury

This entry was posted on Thursday, March 23rd, 2006 at 7:15 pm and is filed under Tax Evasion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.