Former Pennsylvania Businessman Convicted of Filing False Returns
Jonathon Felix, formerly of Villanova, Pennsylvania, was found guilty by a federal jury of willfully signing and filing false income tax returns, the Justice Department and the IRS announced May 22.
According to testimony and evidence presented to the jury at trial, Felix operated a corporation called United Professional Plans Inc. (UPPI), located in Philadelphia, which he co-owned with his father until he passed away in 2000.
The evidence showed that while operating UPPI, Felix removed significant funds from the company in various ways from 1999 through 2002, causing the failure of UPPI. Felix deposited these business funds into his personal accounts or used them for personal expenditures.
Felix willfully signed and filed false individual income tax returns for those years that substantially underreported his income and did not include the funds he appropriated from UPPI. Felix's criminal conduct caused a tax loss to the IRS of about $390,000.
Felix faces a maximum potential sentence of twelve years in prison and a $1 million fine.
- New York Tax Preparer Sentenced for Tax Fraud
- Return Preparer Charged ‒ Preparing False Tax Returns for Drug Dealers
Source: US Department of Justice
Voice of the Editor
Results from a recent AICPA survey disclosed the two top priorities for CPA firms as they plan for the future: bringing in new business and finding talent. Our goal at Sift Media is to help our readers deal with the issues most important to them. One way in which we are doing this is through the launch of our new recruitment/placement service, Going Concern Jobs. Check it out today for your talent needs.
This Week on AccountingWEB
Brian Fox, CPA, founder and CMO of Confirmation.com, explains how the company's electronic audit confirmation service helped the FBI uncover a $6 million fraud scheme.
Russ Wilson of Moss Adams talks with us about the firm's collaboration with WWU in educating and developing talented accounting and business professionals.
Plante Moran CPAs Gordon Krater, Alicia Sturtevant, and Susan Perline spoke with AccountingWEB about the firm's Women in Leadership initiative.
Jeff Thomson, CMA, president and CEO of the IMA, talks with us about the 2013 jobs market for accounting professionals.