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| SARASOTA COMPANY OWNER PLEADS GUILTY |
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WENGNews writes, "A SARASOTA MAN PLED GUILTY TO THREE COUNTS OF WILLFULLY MAKING FALSE FEDERAL INCOME TAX RETURNS IN A TAMPA FEDERAL COURT TUESDAY. 51 YEAR OLD RANDALL KEY, THE SOLE OWNER OF KEYCO INCORPORTATED OF SARASOTA, COULD FACE THREE YEAR IN PRISON, A $250,000 FINE, AND ONE YEAR OF SUPERVISED RELEASE FOR EACH COUNT. COURT RECORDS SHOW THAT DURING THE YEARS 2003-2005, KEY WILLFULLY FAILED TO REPORT INCOME DERIVED FROM VARIOUS SOURCES ON HIS INDIVIDUAL TAX RETURNS, INCLUDING DEPOSITING CHECKS WRITTEN FROM KEYCO INTO HIS PERSONAL BANK ACCOUNT. KEY ALSO USED THE COMPANY’S CORPORATE CREDIT CARD TO CHARGE HIS PERSONAL EXPENSES, AND HE REPORTED FICTITIOUS RENTAL EXPENSES IN ORDER TO FRAUDULENTLY REDUCE HIS TAX LIABILITY RELATING TO PROPERTY THAT HE RENTED TO KEYCO. SENTENCING WILL HAPPEN NEXT MONTH IN TAMPA. "
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Posted on Apr 16, 2008 09:12am.
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