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Press Release

Triangle CEO Sentenced for Filing False Tax Returns

For Immediate Release
U.S. Attorney's Office, Eastern District of North Carolina

NEW BERN, N.C. – Raleigh business owner Alton Perkins, was sentenced today to 24 months in prison for failing to account for approximately $3 million diverted from his companies for his own personal use between 2015 and 2018.  Perkins was also ordered to make restitution to the Internal Revenue Service in the amount of $520,344 for taxes owed from 2015-2018.     

“We are holding accountable tax cheats who avoid paying their fair share,” said U.S. Attorney Michael Easley. “This CEO diverted company money to fund vacations, expensive jewelry and private school tuition. His attempts to defraud the government have led to time in federal prison.” 

According to evidence summarized in court, Perkins moved large amounts of money from his business accounts into his personal bank accounts.  These funds were then used for personal expenditures, including the purchase of a Wake Forest home, Rolex watches, vacations, and private school tuition.  None of the approximately three million dollars spent by Perkins on these personal items was accounted for in his taxes filed with the Internal Revenue Service.  

Perkins is the chairman and CEO of AmericaTowne, a company, according to its website, focused on increasing exports of American products to China.  AmericaTowne, which was funded by investor dollars, included a plan to build an American-style community in China that would include hotels, small businesses, and a theme park.  Perkins is currently involved in a civil lawsuit with the U.S. Securities and Exchange Commission (Case No. 5:19-CV-00243-FL) over the unregistered private placement offerings and the sale of securities for AmericaTowne and other business entities controlled by Perkins.   

Perkins pled guilty  on December 12, 2022 to a felony charge of Making and Subscribing a False Tax Return Under Penalty of Perjury, for his failure to account for his personal expenditures on his 2016 personal income tax return.  According to evidence presented in court, for tax year 2016, Perkins stated that his total income was $21,933. However, banking records show that Perkins spent $1,208,394 that year on personal items including, a golf cart, a family trip to Hawaii, private high school tuition, and a Rolex – all with funds taken from his corporate bank accounts.

Michael Easley, U.S. Attorney for the Eastern District of North Carolina, made the announcement after United States District Judge Louise W. Flanagan pronounced the sentence.  The Internal Revenue Service investigated the case and Assistant U.S. Attorneys William M. Gilmore and Karen Haughton prosecuted the case.

Related court documents and information are located on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No 5:22-CR-00265-FL.

Updated March 14, 2023