Former Portland Olympic pole vaulter Kory Tarpenning pleads guilty to failing to report $ 1.4 million in income
Kory M. Tarpenning, a former U.S. pole vaulter from Portland who now lives in Monaco, did not report $ 1.4 million in income and wages on his federal tax returns from 2014 to 2018, prosecutors said.
Tarpenning pleaded guilty to filing a false tax return Thursday afternoon as he appeared by video before US District Judge Michael W. Mosman. He will be sentenced on January 6.
Tarpenning’s 2017 tax return, for example, showed his net business income to be $ 83,639, according to court documents.
He failed to report on the income he received from his interests in consulting firms Sirius Group and Sirius Sports Marketing, a company called Tar.CaSAM which operates a Nike store in Monaco and from consulting firm Downstream Monaco SAM in Portland, prosecutors said.
Under plea, he agreed to pay $ 670,851 in restitution to the Internal Revenue Service.
Tarpenning is a marketing consultant and owner of numerous foreign companies in France and Monaco. His main job is as a brand consultant to American companies interested in expanding their business activities in Monaco. Tarpenning also owns several Monegasque consulting companies, including Sirius Group SAM and Sirius Sports Marketing.
In 2014, Tarpenning entered into a sponsorship agreement between the Monegasque professional football club Association Sportive de Monaco Football Club SA, also known as AS Monaco, and Nike European Operations. The agreement was valued at 20 million euros over its five-year term, according to court records.
The football club signed a contract with Sirius Group to pay Tarpenning a 9% commission on cash payments from Nike and a 6% commission on sportswear ordered by the team. Between 2014 and 2018, AS Monaco paid Tarpenning at least 2.1 million euros.
Tarpenning transferred the income from transactions with AS Monaco and other companies to joint personal bank accounts in Monaco and the United States. He used the proceeds to buy Eugène a second home and to pay for his children’s private Monegasque school.
With the felony conviction, Tarpenning, 59, loses his right to vote, hold public office or own a gun, the judge told him.
Tarpenning was represented by defense lawyers Michelle Kerin and George Clark.
Tarpenning, a native of Portland, represented the US team in the pole vault at two Summer Olympics, in Seoul in 1988 and Barcelona in 1992, where he placed fourth. He holds an MBA from Boston University and lives in Monaco. After his sports career, he moved to Monaco and participated in the opening of the country’s first Starbucks cafe in 2013.
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