ALBUQUERQUE, N.M. (KRQE) – An Albuquerque woman who ran a business helping companies get started has pled guilty to defrauding the U.S. government. Stacy Underwood allegedly opened at least 114 bank accounts for her clients while helping hide millions in funds from the IRS.

According to her guilty plea filed in federal court, Underwood and partner David Wellington ran a business called National Business Services, which helped others set up limited liability companies (LLCs). A key aspect of the service Underwood and Wellington provided was anonymity for their clients.

After setting up the LLCs, Underwood would set up bank accounts for the clients under the name of the LLCs. And court documents show Underwood was the sole signer on many of those accounts.

Between 2005 and 2015, Underwood and her partner helped set up at least 192 LLCs in New Mexico to hide funds from tax collectors, Underwood’s plea reveals. More than $40 million passed into accounts under Underwood’s control.

Underwood faces up to five years in prison for her role, according to a press release from the U.S. Department of Justice. Wellington is also facing charges adding up to 10 years in prison. One of their clients is also facing charges.