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Press Release

Binghamton Area Man Sentenced For $594,000 Theft And Tax Evasion

For Immediate Release
U.S. Attorney's Office, Northern District of New York

United States Attorney, Richard S. Hartunian, announced that William P. Stiles, 43, of Deposit, Broome County, New York, was sentenced today in United States District Court to twenty four weekends of incarceration, and five years supervised release for the felony crimes of wire fraud and tax evasion.

Stiles was chief operating officer and part owner of Aeden Waterford, Inc. (AWI), a payroll and human services company located in the city of Binghamton. Stiles stole more than $500,000 from approximately 100 business clients of AWI between November, 2005, and November, 2010. The money stolen by Stiles was supposed to be used by Stiles to pay client employment withholding taxes, but instead was deposited by Stiles into Stiles’ personal bank accounts. Stiles used the funds stolen from AWI clients for his own personal benefit. Stiles further admitted he evaded income taxes due on the stolen money.

In addition to home confinement and supervised release, District Court Judge Thomas J. McAvoy ordered Stiles to pay $64,466.00 in back taxes to the Internal Revenue Service, and $529,607.29 in restitution to the victims of his crime.

The case was investigated by the Internal Revenue Service, Criminal Investigations, the Federal - Bureau of Investigation, Binghamton Resident Office, and was prosecuted by the U.S. Department of Justice, U.S. Attorney’s Office.

Updated January 29, 2015