Spencer Accounting Group, LLC - Tax Planning and Preparation Services - West Allis, Milwaukee, Brookfield, Waukesha, United States and Saudi Arabia
  • Home
  • Pricing
    • Rush & Cancellation Policy
  • Let's Chat
  • Home
  • Pricing
    • Rush & Cancellation Policy
  • Let's Chat

FREE Tax Tips and Updates

Browse our blog for helpful tax planning and preparation information.

Tax Crimes

6/14/2017

0 Comments

 
A former North Carolina state senator was sentenced to eight months in prison on federal fraud and tax charges. He was investigated by the FBI and IRS-CI with assistance from the North Carolina State Bureau of Investigation and this is what they discovered.

The former State Senator, who represented parts of Cabarrus and Union Counties as a State Senator from 1991 until 2016, previously pleaded guilty to one count of mail fraud and two counts of filing false tax returns before United States District Judge Thomas D. Schroeder. The former State Senator admitted that he engaged in a scheme to defraud and to obtain money through false pretenses by soliciting funds through the mail for NC State Senator Committee, using those funds for personal goods and services not authorized under state campaign finance laws, and then misrepresenting such expenditures on filed campaign disclosure reports. The former State Senator further admitted that he made knowing and willful false statements in federal income tax returns filed both in his personal capacity and on behalf of a corporation he co-managed.


The former State Senator has agreed to pay full restitution to the Internal Revenue Service in the amount of $63,516 and to forfeit $184,059.88 in proceeds derived from his criminal conduct.

“Transparency, honesty, and integrity on the part of elected officials allows citizens to make informed decisions about their campaign contributions and at the ballot box. This sentence should serve as a reminder that those occupying positions of public trust will be held accountable under the same criminal laws as their constituents,” said Acting United States Attorney Hairston.

The former State Senator has learned first-hand what happens when you abuse the power granted to you as an elected official.  He must pay back the American people; money that he used for his own expenses and prison time for degrading our democratic process,” said John Strong, Special Agent in Charge of the Federal Bureau of Investigation (“FBI”) in North Carolina.
​
“Today’s sentence sends a clear message that the laws of the land apply to everyone, regardless of their position,” said Internal Revenue Service – Criminal Investigations (“IRS-CI”) Special Agent in Charge Thomas J. Holloman, III.  “If you commit a crime, status as a political leader will not protect you from federal prosecution.  The former State Senator made a conscious decision to deceive and benefit personally at the expense of the citizens of Cabarrus and Union counties.”
 
​
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    We're Here to Help

    Get advice from our experienced network of financial managers. 
    ​

    If you Value our Blog, We have an ask.

    We spend hours researching data to help you understand your finances and taxes, including historical context, issues, and solutions. Our goal is to empower people to improve  their relationship with money. ​Please consider a $3 donation today.

    Tax Plan Video

    Important Disclosures


    Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

    ​
    To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
    ​
    These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

    GET STARTED

    Author

    Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion.  Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

    Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

    RSS Feed

    Accounting Services
    Tax Preparation
    Picture
    Picture
Home
Net30 Account Info
Privacy Policy
Contact Us

Picture
Picture
Picture
Copyright 2021 ALL RIGHTS RESERVED.
Photo used under Creative Commons from verchmarco