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Business executive pleads guilty to tax evasion

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There are many people in Missouri and across the country who find themselves in a difficult financial situation. This is even the case for those who may not seem to be struggling. Unfortunately, these struggles can lead to actions that may be otherwise out-of-character. In fact, a man in another state recently pleaded guilty to tax evasion charges.

The charges against the man stemmed from an alleged failure to pay taxes from 2012 to 2015. As a result, the man faces four counts of tax evasion. As part of a plea deal related to these charges, he was sentenced to one year in prison. Additionally, he must pay over $92,000 in taxes that were unpaid from 2011, even though the statute of limitations has expired.

As part of the plea deal, federal prosecutors dismissed a case involving allegations of wire fraud. The man reportedly stole money from his employer, Fasteners Inc., to pay for his daughter’s college tuition, among other things. He claims that he intended to replace the money, but the owner of the company reneged on a verbal agreement to give him 10% of the sale price of the company.

When facing charges such as tax evasion, defendants in Missouri and across the country are left to carefully weigh the evidence against them and the potential consequences of a conviction. In many cases, they often determine that it is in their best interests to accept a plea deal if offered. An attorney with experience with such cases can help them fully understand their options and the potential consequences of each.

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