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September 07, 2012

Collin County Man Sentenced for Federal Income Tax Violation

BEAUMONT, Texas - A 49-year-old Plano, Texas man has been sentenced to federal prison for income tax violations in the Eastern District of Texas, announced U.S. Attorney John M. Bales today.   

Richard C. Peters, III, pleaded guilty on July 26, 2011 to attempting to evade federal income tax and was sentenced to 18 months in federal prison today by U.S. District Judge Thad Heartfield.  Peters was also ordered to pay restitution in the amount of $281,376. 

                According to information presented in court, on Aug. 1, 2006, Peters completed a federal income tax return form for tax year 2004 that stated he had adjusted gross income of $143,140.  In fact, Peters knew his adjusted gross income for 2004 was in fact $417,353.    Peters had devised a scheme to avoid paying the full amount of federal income taxes owed by receiving a substantial portion of his income in the form of checks made payable to a party other than himself.  Peters was indicted by a federal grand jury on Apr. 15, 2010.

                This case was investigated by IRS Criminal Investigation and prosecuted by Assistant U.S. Attorney J. Andrew Williams.



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