A California resident has pleaded guilty to four counts of wire fraud and one count of endeavoring to obstruct the administration of the Internal Revenue Code.
The man defrauded four of his clients by receiving money on their behalf into client trust accounts, embezzling the money, and then denying having received the money. Further, he obstructed the IRS’s efforts to collect unpaid payroll taxes worth over $5 million. These were payroll taxes that the man had withheld from the paychecks of employees of a company he owned and operated.
After his guilty pleas, the man faces a maximum prison sentence of 83 years.
Source: US Department of Justice
