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White collar crimes: Man pleads guilty in $2.5 million fraud case

| Mar 11, 2020 | White Collar Crimes |

Facing federal fraud charges in Michigan is serious, and convictions can lead to years in federal prison and significant fines. A construction company owner in another state recently pleaded guilty to federal charges involving $2.5 million concealed from the IRS. Reportedly, the white collar crimes scheme started in Dec. 2014, and continued for nearly four years.

The businessman was accused of devising various ways to conceal financial transactions from the IRS. He pleaded guilty to falsifying receipts and structuring over $2.5 million worth of real estate projects and contracts in order to hide the source of the funds. Reportedly, receipts for money received were divided into smaller amounts and spread over an extended period of time to conceal the massive amounts of money he received as once-off payments.

The payments the 47-year-old construction company owner received were apparently for residential and commercial real estate construction projects. According to his plea, the defendant altered existing contracts and, in some cases, generated false contracts — or ordered his employees to do so. The man pleaded guilty to taking all these steps to avoid reporting the real sources to the IRS.

Anyone in Michigan who faces federal charges for white collar crimes will want to rely upon an experienced criminal defense attorney. Based on the charges and the available evidence, the attorney can explain the legal options and prepare a vigorous defense to the formal accusations. The focus is always on protecting the legal rights of the client throughout the legal proceedings while pursuing the best possible outcome.