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Terra Ferguson, 14 Months in Prison, for Stealing $374,101 in Taxes
A New London, North Carolina, woman has been sentenced to 14 months in prison for federal employment tax fraud, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman and U.S. Attorney Matthew G.T. Martin for the Middle District of North Carolina.
Terra Ferguson, 47, was employed as an office manager at a pediatric office in Randolph County, North Carolina, from approximately 1992 through at least September 2016. As office manager, Ferguson had complete control over the office’s finances and was responsible for collecting, accounting for, and paying over to the IRS payroll taxes that were withheld from the wages of the business’ employees.
However, from March 2011 through September 2016, Ferguson withheld approximately $78,937 in payroll taxes from employee paychecks and willfully failed to pay that money to the IRS. She also failed to pay $35,472 for the employer’s share of employment taxes.
Ferguson used the stolen funds to pay her personal credit card bills, fund personal business ventures involving a mountain cabin rental and a bar, pay for personal vacations, and issued checks to herself totaling $1.4 million, all from the business’ bank account.
In addition to the term of imprisonment imposed, Ferguson was ordered to serve three years of supervised release and to pay $374,101 in restitution to the IRS.
Principal Deputy Assistant Attorney General Zuckerman and U.S. Attorney Martin commended special agents of IRS-Criminal Investigation, who investigated the case, and Trial Attorneys Mara Strier and Alexander Effendi of the Tax Division and Assistant United States Attorney Frank Chut, who prosecuted this case.
The total tax loss resulting from Ferguson’s fraudulent conduct is approximately $374,101. Ferguson pleaded guilty to one count of failing to collect, account for, or pay over payroll taxes for the employment tax quarter ending Dec. 31, 2015, on May 17, 2019.
Key Facts
- State: North Carolina
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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