Republic Man Pleads Guilty to SBA Loan Fraud, Failure to Pay Employment Taxes
SPRINGFIELD, Mo. – Tom Larson, Acting United States Attorney for the Western District of Missouri, announced that a former business owner pleaded guilty in federal court today to providing false information in order to receive a $1.45 million loan, and to failing to pay employment taxes for the now-defunct business.
Clinton Tackitt, 43, of Republic, waived his right to a grand jury and pleaded guilty before U.S. Magistrate Judge David P. Rush to a federal information that charges him with making false statements on a loan application and with failing to pay over taxes.
Tackitt applied for a $1,450,000 SBA-guaranteed loan for his business, Allied Roofing Systems, LLC, on May 9, 2012. Tackitt admitted today that the loan application he submitted to Guaranty Bank was false and incomplete. Tackitt failed to disclose all of his financial debts as required and failed to truthfully disclose an accurate financial status of his company or a complete listing of the debts he and his business owed, in that the company was heavily in debt and was about to claim bankruptcy. Tackitt also failed to disclose that a third party assisted him in the preparation and presentation of the application.
Tackitt also admitted that he failed to pay over to the government $262,066 in payroll taxes that he collected from his employees. He also failed to pay over the employer’s share of FICA taxes, which total $395,699. Beginning during the second quarter of 2012, ending on June 30, 2012, and continuing on until the dissolution of Allied Roofing Systems on Dec. 31, 2013, Tackitt collected federal employee taxes from the salaries paid to the individuals employed with his company. Tackitt, through his company, willfully failed to pay over all of the taxes collected from his employees.
Tackitt must forfeit to the government $1,324,878,which was derived from the proceeds of his criminal conduct.
Under federal statutes, Tackitt is subject to a sentence of up to 35 years in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.
This case is being prosecuted by Assistant U.S. Attorney Patrick Carney. It was investigated by IRS-Criminal Investigation, the FBI and the Small Business Administration.