Florida CFO Sentenced for Tax Evasion
Posted on Aug 22, 2009 11:31am PDT
The former Chief Financial Officer for Florida Design magazine, Harvey Fein (68), was recently sentenced to 2 years in prison for
tax evasion. Fein allegedly
embezzled $1.5 million from his former employer, which was connected to his tax evasion charges.
The sentence was issued by U.S. District Judge William Sloch in Fort Lauderdale, Florida. Judge Sloch also sentenced Fein with 3 years of supervised release following his prison term after Fein pled guilty to one count of tax evasion.
While working at Florida Design, Fein created fictitious accounts in the company's name and assigned himself as sole signatory authority. He then stole legitimate company checks and forged signatures. The forged checks were deposited into fraudulent company accounts that were under his control.
Throughout 2001 - 2005, Fein allegedly filed false income tax returns. During that time, he did not report $1.5 million in additional taxable income that he had embezzled from his employer. His white collar crimes reportedly cost the IRS a tax loss of approximately $440,000.
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