Payroll fraud scheme yields another guilty plea
A former executive of a company that provided payroll tax services to small businesses pleaded guilty Thursday to mail fraud and money laundering charges over his role in a $110 million tax fraud.
Between 2003 and 2008, John E. Bean, a San Antonio accountant who now lives in Austin, owned a professional employer organization called Synergy Personnel and was involved with other PEOs in the fraud, court records said.
The companies claimed they collected and remitted to the IRS employment payroll taxes for small businesses that hired them but pocketed the money instead. Bean provided accounting services for executives of other PEOs implicated in the case.
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The scheme included creating new firms and walking away from the tax liability, which their clients were unaware of.
More at http://www.mysanantonio.com/news/local_news/article/Payroll-fraud-scheme-yields-another-guilty-plea-4392706.php .