Tampa Area Business Executive Convicted Of Tax Crimes
Tampa, FL - A federal jury yesterday found John D. Stanton, III (64, Tampa) guilty of one count of attempted interference with federal tax laws and seven counts of willfully failing to file income tax returns. Stanton, who was indicted on August 15, 2012, faces a maximum penalty of ten years in federal prison. His sentencing hearing is scheduled for March 7, 2013.
According to evidence presented at trial, Stanton was the former president of Florida Engineered Construction Products Corporation ("FECP"), more commonly known as Cast Crete Corporation, which manufactured and sold concrete construction products. As president of the company, Stanton interfered with the administration of the tax laws by impeding an Internal Revenue Service ("IRS") audit of the company; creating and backdating two fraudulent demand promissory notes totaling $500 million; causing false Forms 1099 to be filed with the IRS; failing to file corporate tax returns on behalf of the company; and other acts of obstruction and concealment. From approximately 2004 through 2008, the company made well over $100 million and failed to file a single corporate income tax return.
Evidence presented at trial also showed that Stanton failed to file corporate tax returns on behalf Denouement Strategies, Inc., for 2006 and 2007. Stanton controlled Denouement Strategies and transferred more than $43 million worth of FECP/Cast Crete profits into the Denouement Strategies bank accounts in 2005, 2006, and 2007.
Stanton also failed to file personal income tax returns for 2005 and 2007.
This case was investigated by the Internal Revenue Service Criminal Investigation. It is being prosecuted by Assistant United States Attorneys Robert Monk and Matthew Mueller.