Guilty plea set in $6.5 million fraud case
WILMINGTON, Del. (AP) — A former Delaware resident facing federal charges of wire fraud, money laundering and tax evasion has agreed to enter a guilty plea in the case.
A judge on Friday scheduled a Nov. 27 plea hearing for 57-year-old Michael Boyce of Ocean City, New Jersey.
Boyce, who worked for a manufacturing company in New Castle County, is accused of submitting false purchase orders over a 12-year period for more than $6.5 million of supplies that were never delivered.
Boyce allegedly submitted false documents that led the company to pay the two suppliers, who, in turn, gave more than 85 percent of the payments back to Boyce.
Prosecutors say Boyce declared some illegal income on his taxes, but failed to declare at least $1.4 million, resulting in unpaid taxes exceeding $579,000.