Thursday, October 30, 2014

North Carolina Woman Sentenced To 2 Years For Embezzling Nearly $840K From Bookkeeping Clients

From the News Herald on 10/30/2014:

STATESVILLE, N.C. – A Lenoir woman was sentenced to 24 months in federal prison Monday, according to a release from the office of U.S. Attorney Anne M. Tompkins.

Denise Swanson was convicted of tax evasion, the release said. She will serve three years under court supervision following her release from prison. She was ordered to pay $839,830 in restitution to client victims and $249,912 to the IRS, according to the release.
Swanson was the owner and operator of Bottom-line Accounting, a tax preparation and bookkeeping business, court records show. She performed tax preparation services for clients, which included making related tax payments on their behalf, the records show.

Swanson received funds from clients intended to go toward tax obligations to the IRS and other state agencies, the release said. Instead of making payments, she embezzled the money and used it to pay for her daughter’s college tuition, renovations to her house, gambling, and to cover personal expenses, the release said.
Court records show she failed to report the embezzled income on her individual tax returns for tax years 2006 through 2011. Swanson pleaded guilty to tax evasion for 2010 in August 2013, the release said.
Swanson was allowed to remain free following the sentencing hearing. She will be ordered to report to the Federal Bureau of Prisons upon designation of a federal facility, according to the release.

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