Andrew Parish, Founder Of AdvisorHUB, Jailed For Tax Evasion

The wheels of justice sometimes take a long time to turn, but they generally do see that criminals pay the price for their antisocial activities. In a case in point, Andrew Parish, the founder of financial broker rumor and gossip site AdvisorHUB, was sentenced last week to 18 months in prison for failure to pay federal employment taxes for his workers at a another business he owned in 2009.

Parish, who turned 40 this year, pleaded guilty earlier this summer to a charge of failing to give employment taxes he collected from employees to the IRS, based on documents from the U.S. district court in Ohio.

Parish had no comment when he was contacted by the media by telephone.

Andrew Parish, Founder Of AdvisorHUB, Jailed For Tax Evasion

Details on Andrew Parish tax evasion sentencing

Based on court documents provided by the IRS, Parish cut paychecks nearly all of Axiom Consulting Group’s employees from January to March 2009 withholding federal employment taxes. Instead of remitting those funds to the agency, he just took and used for his own purposes.

As a part of the sentence, Federal District Judge James Graham ordered Parish to pay the IRS $341,336.46, the total amount of taxes the IRS should have collected, as well as 18 months in the federal penitentiary and a $10,000 fine.

Of note, the sentencing document also mentioned Parish’s cooperation with the IRS and ongoing mental health counseling were considerations in the sentence.

Andrew Parish – More on AdvisorHUB

Rumor-focused AdvisorHUB is the National Enquirer of financial trade publications, according to some, and is generally focused on the activities of wealth managers and brokerages. Reuters claimed in an article published last year that Parish had tried at one point to sell information about the users of AdvisorHub to Wall Street brokerages.

Parish’s sentencing does not have an impact on the operations of AdvisorHUB, which continues to publish rumors from brokers / advisors and a broad range of financial sector articles on a daily basis.