Former Nashville Resident Sentenced For $1.2 Million Dollar Bank Fraud And Filing False Income Tax Returns
David A. Billington, 51, formerly of Nashville and currently residing in Murray, Kentucky, was sentenced on September 22, 2014, to serve 51 months in prison for bank fraud and filing false tax returns, announced David Rivera, U.S. Attorney for the Middle District of Tennessee. Billington was also ordered to pay restitution and the taxes that he owed, when released from prison.
“Fraudulent conduct that impacts federally insured banks will continue to be aggressively investigated by federal law enforcement agencies and prosecuted by this office” said U.S. Attorney David Rivera. “When criminals willfully fail to report their ill-gotten gains, as the law requires, they will also face additional tax charges and stiff penalties.”
Billington pleaded guilty in April 2014 to embezzling $1.2 million from his former employer, Revolution Pictures, where he worked as a contract bookkeeper. Billington admitted to Chief Judge Joseph Haynes that from 2006 to 2011, he secretly wrote a series of company checks made payable to him; altered company books and records to conceal the fraud; and thereby fraudulently obtained company funds that totaled $1.2 million.
Billington also admitted that he failed to disclose the embezzled funds in tax returns he filed for tax years 2006 through 2010, which resulted in an underpayment of almost $280,000 in income taxes.
"This sentence is the culmination of the tireless efforts of the FBI and our law enforcement partners," said A. Todd McCall, Special Agent in Charge of the Memphis Division of the Federal Bureau of Investigation. "Their hard work once again proves that those who violate trust, fiduciary duty, and the law, for personnel gain, will be brought to justice and will pay the price of their crimes."
“No matter what the source of income, all income is taxable,” said Christopher A. Henry, Special Agent in Charge of the Nashville Field Office of the IRS – Criminal Investigation. “The prosecution of individuals who intentionally conceal income and evade taxes is a vital element of the IRS' enforcement strategy. We are pleased with the successful resolution of this investigation due to the cooperative efforts of our law enforcement partners.”
The case was investigated the FBI and the IRS-Criminal Investigation. The United States was represented by Assistant U.S. Attorney Hilliard Hester.