South Carolina man pleads guilty to tax evasion, embezzling
LAKE WYLIE, S.C. (AP) — A South Carolina man has pleaded guilty to tax evasion and embezzling nearly $26 million from a North Carolina company.
The Herald cites a release from U.S. Attorney Beth Drake that says 50-year-old Bryan Bower was accused of convincing foreign customers to send payments directly to his account instead of the company’s. It says Bower diverted the money from Buckeye Fire Equipment Co., based in Kings Mountain, North Carolina, to himself from 2009 to 2013.
Bower owed more than $9 million in taxes to the U.S. Treasury as he didn’t claim income tax on the money, and the Internal Revenue Service investigated the case. Bower faces up to 5 years in prison and a fine of $100,000 when sentenced.
Information from: The Herald, http://www.heraldonline.com