Business executive accused of embezzlement of tax funds

By KevinMarcilliat, In White Collar Crimes, 0 Comments

The 61-year-old owner of a business in Cabarrus County, North Carolina, is facing felony tax charges after reportedly assisting a corporation with illegal financial moves. The man, who is a corporate officer with Butler Specialties, is facing allegations of white collar crimes including embezzlement of state and county property. Reports show that the defendant was arrested after an investigation conducted by the Department of Revenue’s Criminal Investigations Section. He is being held on a $1 million bond, according to news reports, and he has already had his first courtroom appearance.

The man had served as the Secretary/Treasurer at the firm. He was responsible for Butlerbuilt Motorsports Equipment, which was the name Butler Specialties gave to its Concord endeavor. Officials say the man had a duty to collect and pay North Carolina State Taxes, which were due to the state Department of Revenue.

Authorities say the man is accused of assisting the business in essentially stealing about $400,000 in sales tax from state and county coffers. The company reportedly embezzled and misapplied those assets between December 2003 and January 2014. The man also allegedly helped the business embezzle about $261,000 in North Carolina Withholding Tax between 2009 and 2014.

This criminal defendant is facing allegations of financial fraud related to his company’s tax payments. Tax violations are considered serious crimes in North Carolina and other jurisdictions, with state departments of revenue sometimes pursuing criminal charges in order to collect their money.

Defendants who are accused of white collar crimes such as tax evasion or embezzlement may have special courtroom needs that are different from someone accused of property theft or other crimes such as battery. Documentation and data analysis can play a major role in such white collar crimes.

Source: WBTV 3, “Cabarrus County business owner charged with state tax offenses” No author given, Apr. 24, 2014