Hampshire county man convicted of filing false corporate tax returns
For Immediate Release
U.S. Attorney's Office, Northern District of West Virginia
MARTINSBURG, WEST VIRGINIA – Joseph H. Frye, 71, of Augusta, West Virginia, was convicted today of filing false corporate tax returns, United States Attorney William J. Ihlenfeld, II, announced.
Frye pled guilty today to a criminal Information charging him with one count of “Filing False Income Tax Return.” As the founder and majority owner of Jolin Concrete Industries, Inc., a company located in Hampshire County, West Virginia, Frye repeatedly converted corporate profits for his own personal use and understated the company’s taxable income. Specifically, Frye admitted that he filed an income tax return for tax year 2012 that understated the company’s taxable income by $187,322.91.
Frye faces up to three years in prison and a fine of up to $100,000. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant U.S. Attorney Jarod Douglas prosecuted the case on behalf of the government.
U.S. Magistrate Judge Robert W. Trumble presided.
Updated January 8, 2016