Robert Earl Carter, a 65-year-old resident of Fresno, has been ordered to federal prison for making false statements in a federal income tax return, announced U.S. Attorney Kenneth Magidson.
Carter, the former owner and CEO of Enterprise Advisory Services Inc. (EASI), pleaded guilty to the charges on September 9, 2014. U.S. District Judge Keith P. Ellison handed Carter the statutory maximum of 36 months in federal prison, to be immediately followed by a year of supervised release.
Carter was also ordered to pay a $75,000 fine. Judge Ellison concluded that Carter had not accepted responsibility for his criminal conduct and found his sworn assertion regarding the art not credible.
At the time of his plea, Carter admitted that he willfully made a materially false statement in his 2009 personal federal income tax return by underreporting the total income he earned that year.
Carter reported a total income of $276,270, failing to disclose an additional $309,821 in bonus income he received during that year. The investigation established that he had those bonus monies converted into a check payable directly to another company controlled by a family member.
Approximately one month later, $286,821 was returned directly to Carter via a cashier’s check. EASI issued Carter another bonus check for $195,000 on December 22, 2009, which he deposited into his personal savings account.
EASI reported this $195,000 payment as executive variable pay (a financial incentive program recognizing the contribution employees make to EASI’s success). EASI did not report the income in Carter’s W-2 form or issue a form 1099-MISC because EASI recorded this bonus payment as a reimbursement payment to Carter.
Carter did not, as required, report this $195,000 personal income on his 2009 individual federal income tax return. In sum, Carter willfully and intentionally failed to report personal income totaling $504,821 on his 2009 tax return.
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Key Facts
- State: Texas
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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