Missouri man sentenced for loan fraud, not paying taxes
SPRINGFIELD, Mo. (AP) — A former business owner in southwest Missouri will serve two years in federal prison for fraud committed to receive a $1.45 million loan.
Federal prosecutors say 44-year-old Clinton Tackitt, of Republic, was sentenced Wednesday for providing false information and failing to pay employment taxes.
He also was ordered to pay $1.5 million in restitution to the Small Business Administration, Guaranty Bank and the IRS.
Tackitt admitted he submitted false and incomplete information on an application for a $1.45 million SBA-guaranteed loan for his business, Allied Roofing Systems, in May 2012. He also failed to disclose that his company was heavily in debt and about to file for bankruptcy.
Tackitt also admitted that he didn’t pay $262,000 in payroll taxes and $395,000 in the employer’s share of FICA taxes.