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Local Businessman Faces up to Three Years in Prison for Filing False Tax Return
John J. O’Neill, 62, president of Omni Aerospace, Inc., a Wichita-based aerospace company, pleaded guilty Monday to making a false statement on a federal tax return, according to U.S. Attorney Tom Beall.
O’Neill admitted in his plea that he filed a return seeking a special depreciation allowance of more than $2.7 million to which he was not entitled. The judge will determine at sentencing how much O’Neill owes in taxes.
The sentencing hearing is set for January 17, 2017. O’Neill faces a penalty of up to three years in federal prison and a fine up to $250,000.
Beall commended the Internal Revenue Service and U.S. Attorney Alan Metzger for their work on the case.
O’Neill’s company, Omni Aerospace, Inc., will likely feel the financial pinch as a result of the guilty plea. The company’s reputation may also be damaged by the scandal.
The case serves as a reminder that even small business owners can be held accountable for their actions. O’Neill’s case will serve as a warning to others who may be tempted to cheat the system.
The guilty plea is a significant development in the case, and it remains to be seen how the sentencing will play out. One thing is certain, however: O’Neill will face the consequences of his actions.
Key Facts
- State: Kansas
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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