Former Owner of Tax Preparation Business Found Guilty of Tax Crime | USAO-NDTX

Brooklyn Business Owner Pleads Guilty to Tax Evasion |  OPA

A Plano man was convicted at a trial of concealing over $1 million in income from the IRS, announced US Attorney for the Northern District of Texas Chad E. Meacham.

After three days of trial, on Thursday, a federal income jury found Raymond Griggs, 51, guilty of making a false statement on his tax return.

According to evidence presented at trial, between 2011 and 2013, Mr. Griggs ran a tax preparation business, Griggs Financial, LLC, located in the Dallas, Texas area.

While Griggs Financial, LLC generated over $1.3 million in gross receipts in 2013, Mr. Griggs reported to the IRS that his business had brought in just about $340,000.

That year alone, however, Mr. Griggs spent in excess of $1.4 million, including over $114,000 for entertainment, and tens of thousands of dollars for jewelry, travel, and lessons flight.

Additionally, the evidence presented at trial showed that Mr. Griggs consistently underreported his business’s gross receipts to the IRS by about $1 million for both 2012 and 2011.

Mr. Griggs now faces up to three years in federal prison.

IRS Criminal Investigation’s Dallas Field Office conducted the investigation. Assistant US Attorneys Donna Strittmatter Max, Fabio Leonardi, and Russell Fusco (fmr.) prosecuted the case. US District Judge David C. Godbey presided over the trial.

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