Former Pennsylvania Businessman Convicted of Filing False Returns
by AccountingWEB on
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
Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked
2 weeks 4 days ago by mucar1990