Skip to main content
You have permission to edit this article.
Edit
Man pleads guilty to tax fraud
top story

Man pleads guilty to tax fraud

  • Updated
  • 0
{{featured_button_text}}

A Taylorsville man who received unemployment benefits at the same time he was running his own business pleaded guilty Wednesday to filing a false tax return.

Matthew Moretz, 31, was released on bond after his plea hearing in federal court but faces a maximum prison sentence of three years and a $250,000 fine, according to a release from United States Attorney Jill Westmoreland Rose.

According to filed documents and court proceedings, from April 2010 to March 2011, Moretz collected unemployment payments from the North Carolina Division of Employment.

However, starting around March 2010 and continuing through 2013, Moretz was the owner of MJM Recycling, a scrap metal business, according to the release.

Support Local Journalism

Your subscription makes our reporting possible.
{{featured_button_text}}

The release from Rose’s office said from 2010 through 2013, Moretz concealed significant personal earnings from his business from the IRS. During the time period, Moretz failed to disclose or provide records from all of his bank accounts to his bookkeeper and tax return preparers, the release said.

According to filed documents, from 2010 through 2013, Moretz earned additional personal income totaling around $529,622.44 that he failed to report on his federal tax returns filed with the IRS, the release said. It said Moretz failed to report deposits totaling $99,344.39, $194,675.59, $124,432.58, and $111,169.88, respectively, for 2010 through 2013.

Because of the unreported income, Moretz had additional tax due and owed around $116,409.38 from 2010 to 2013, the release said.

As part of his plea agreement, Moretz has agreed to pay restitution of $116,409.38 to the IRS.

The investigation was led by IRS-Criminal Investigation division and Assistant U.S. Attorney Jenny G. Sugar, of the U.S. Attorney’s Office in Charlotte, is prosecuting the case.

 

Be the first to know

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News

News Alert