Phillip Barry Albert, Tax Evasion, Oklahoma 2024

Related Federal Cases

Theodore Paul Victor, Jr. Faces Income Tax Evasion Charges, Beaumon… · Texas
Lawrence Michael Day, Mortgage and Tax Evasion Scheme, TX, 2023 · Texas
Adler’s Dirty Deeds Exposed: Fresno Man Behind Bars for $1.1M Tax Evasion Scam · Oklahoma
Key West Tax Man Gets 18 Months for Fraud · Florida
Odunowo Gets 54 Months for $1.5M Tax Fraud Scheme, Washington DC, 2023 · Washington

Table of Contents

Defendant’s Descent into Crime

Phillip Barry Albert, a 60-year-old man from Claremore, Oklahoma, has hit rock bottom after being sentenced to 30 months in prison for masterminding a multi-million dollar tax evasion scheme. The brazen crime left the Internal Revenue Service (IRS) with a staggering loss of $1,000,232.

According to court documents and testimony, Albert was the President of Pelco Structural LLC, a steel pole manufacturing company that operated in Claremore from 2014 to 2019. During his tenure, Albert directed the company’s outside payroll service to funnel over $2.6 million of Pelco’s funds into his personal account. He instructed the payroll company to characterize the payments as reimbursements, rather than income, thereby evading federal income taxes and avoiding reporting the payments on his income tax returns.

The scheme, which spanned five years, was designed to deceive the IRS and avoid paying taxes on the illicit income. Albert’s actions were a blatant disregard for the law and a betrayal of the trust placed in him as a corporate leader. His sentence is a stark reminder that those who engage in such crimes will be held accountable.

The investigation into Albert’s tax evasion scheme was a collaborative effort between the IRS Criminal Investigation and the Federal Bureau of Investigation (FBI). Trial Attorney Meredith Havekost of the Tax Division and Assistant U.S. Attorney Thomas Duncombe for the Northern District of Oklahoma prosecuted the case.

Albert’s sentence also includes one year of supervised release and a hefty restitution of approximately $1,000,232 to the United States and $2,615,750 to Pelco Industries Inc., the former parent company of Pelco. This restitution is a tangible representation of the damage caused by Albert’s actions and a measure of the severity of his crimes.

The case serves as a warning to individuals and corporations alike: tax evasion is a serious crime with severe consequences. Those who engage in such activities will be pursued and prosecuted to the fullest extent of the law.

The people of Oklahoma can rest assured that the justice system is working to protect the integrity of our tax system and hold accountable those who seek to exploit it.

Phillip Barry Albert’s name will go down in history as a symbol of the devastating consequences of tax evasion. His story serves as a reminder of the importance of honesty and integrity in all aspects of life, particularly in the world of finance and commerce.

As we continue to navigate the complexities of the tax system, it is essential that we remain vigilant and proactive in preventing such crimes from occurring in the future.