Texas Woman Charged For Alleged Tax Evasion
The former comptroller for a San Antonio, Texas, business was recently charged with 14 counts related to a tax evasion scheme.
Monica Richardson received ten counts of failure to collect withheld taxes and four counts of filing false tax returns, according to the U.S. Department of Justice. She is accused of embezzling more than $500,000 from her company, the Watermark Group.
The alleged criminal activity occurred from 2005 to 2007. Richardson did not account for a significant amount of funds that was owed to the Internal Revenue Service from the company. In addition, she filed fraudulent income tax returns for the years between 2004 and 2007, reporting much lower earnings than she made.
If convicted, she faces a maximum of five years in a federal penitentiary, as well as a fine of $250,000 for each count of not paying the company's withholding taxes. For each fraudulent income tax return, she would have to serve a maximum of three years in prison for each count, as well as another fine of $250,000.