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Toledo Business Owner Sentenced to Prison and Ordered to Pay Over $1.1 Million in Restitution
A Toledo business owner has been sentenced to prison and ordered to pay over $1.1 million in restitution after pleading guilty to evading income taxes. Michael Meridieth, 41, of Toledo, Ohio, was sentenced to one year and one day in prison and ordered to pay $1,125,268.84 in restitution.
According to court documents, Meridieth owned and operated five different businesses in the Toledo area from 2004 to the present. At each business, Meridieth handled the accounting and bookkeeping, which included the withholding of employment taxes from employee paychecks.
However, Meridieth failed to timely file employer tax returns or make timely deposits of employer taxes to the IRS. At each business, except for one, Meridieth shut down owing payroll taxes and withholdings to the IRS. Instead of making these payments, Meridieth transferred the assets of one business to another to continue business operations and avoid paying accumulated tax liabilities.
Meridieth used the withheld funds on personal expenses to support a lavish lifestyle, including the purchase of a snowmobile and paying for a visit to a rehabilitation facility. He also allowed himself and his business associates to spend business funds on personal expenditures, including furniture, jewelry, and a country club membership.
In total, Meridieth failed to pay more than $1.1 million in employment taxes. The case was investigated by IRS-Criminal Investigation and prosecuted by Assistant United States Attorney Vanessa Healy.
Meridieth’s sentence and restitution order are a result of his guilty plea to attempt to evade and defeat income tax. His crimes had a significant impact on the IRS and the businesses he operated.
The sentence and restitution order serve as a reminder of the importance of paying taxes and following the law. Meridieth’s actions were a serious breach of trust and had significant consequences.
Michael Meridieth, Defendant/Respondent, was sentenced to prison for one year and one day and ordered to pay $1,125,268.84 in restitution.
City and State: Toledo, Ohio
Exact Date: Not specified
Criminal Charges: Attempt to Evade and Defeat Income Tax
Sentence: One year and one day in prison, $1,125,268.84 in restitution
Key Facts
- State: Ohio
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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