Illinois Man Enters Plea For Tax Evasion Charge
An accountant from Peoria Heights, Illinois, recently entered a guilty plea to tax evasion and wire fraud, after bilking multiple clients out of approximately $850,000.
James Boyd, 57, avoided a federal grand jury's indictment by entering the plea, and now could serve a maximum of 20 years in federal prison, according to the Peoria Journal Star. From 2000 to 2009, he defrauded his clients by writing unauthorized checks from their companies and putting them into his personal account.
He did not file income tax returns with the Internal Revenue Service from 2004 to 2006, as well as 2008, the news source reported. In 2007, a tax return was filed in order to allow a relative to be eligible for university financial aid.
In addition, Boyd had a credit card on which he would charge payments from a corporate account, according to the news source. As a part of the cover-up, he wrote fraudulent banking statements for all related transactions.
Boyd is free on bond until his sentencing, which is slated for September 20, in front of U.S. district Judge Michael Mihm, the news source added.